Title
Amendment to Agreement for Bus Advertising Revenue Program
Overview
On June 22, 2015, the Orange County Transportation Authority’s Board of Directors approved an agreement with Outfront Media Group, LLC, to sell, place, and maintain advertisements on its bus vehicles. Due to the current coronavirus pandemic, which has resulted in a significant decrease in the Orange County Transportation Authority’s operating bus fleet size and has also created a substantial decrease in advertising sales revenue, Outfront Media Group, LLC, is requesting to amend the payment terms of the contract to be solely based on a revenue-sharing arrangement, eliminating the minimum annual guarantee for the remainder of the first option term.
Recommendation(s)
Authorize the Chief Executive Officer to execute Amendment No. 2 to Agreement No. C-5-3076 between the Orange County Transportation Authority and Outfront Media Group, LLC, to eliminate the annual minimum guarantee and adopt a payment term based solely on a revenue-sharing arrangement for the remainder of the first option term beginning April 1, 2020 through August 31, 2020.