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. In response to declining revenue due to the coronavirus pandemic, on July 20, 2020, the Board of Directors approved an amendment to exercise the second option term with a modified payment provision. Due to the extended effects of the pandemic, Outfront Media Group, LLC, is requesting a temporary modification to the existing minimum annual guarantee requirement.
Recommendation(s)
Authorize the Chief Executive Officer to negotiate and execute Amendment No. 4 to Agreement No. C-5-3076 between the Orange County Transportation Authority and Outfront Media Group, LLC, to eliminate the minimum annual guarantee and adopt a payment term based solely on a 70 percent revenue-sharing arrangement through December 2021.