SUBJECT: CONSENT AGENDA
Title
A Resolution of the Board Of Trustees of the Town of Erie Approving the Amendment to Master Equity Lease Agreement with Enterprise FM Trust
Body
DEPARTMENT: Public Works
PRESENTER/PREPARER: Todd Fessenden, Public Works Director
Steve Felten, Finance Director
FISCAL INFORMATION:
Cost as Recommended: $ 37,320; $33,240; 40,200
Balance Available: $ 0
Budget Line Item Number: 100-70-450-601000
500-70-770-601040
510-70-730-601040
New Appropriation Required: Yes
STAFF RECOMMENDATION:
Recommendation
Approve the resolution authorizing said lease agreement, authorize the appropriate Town officer to execute said lease agreement, and authorize staff to paid said lease payments.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Town has been working with Enterprise FM Trust regarding a lease agreement for Town of Erie vehicles. With this agreement, the Town will lease vehicles on an annual basis for a five year period. Some of the benefits for this include:
• Expected lower maintenance cost as vehicles are under warranty for the first three years and are replaced every five years.
• More efficient models have lower fuel costs
• Newer vehicles are more reliable
• Fixed costs each year for easier budgeting
With the success of the pilot program, the Town plans to include replacement of all vehicles (see Town’s current age distribution chart) in this program over the next five years. Other entities that use this program include Evergreen Parks and Rec District, South Metro Fire Rescue, Denver Police, Boulder Valley School District, Commerce City, City of Fountain, Arizona State University.
|
Age |
Number of Vehicles |
% of Vehicles |
|
0 - 5 Years |
14 |
24% |
|
5 - 10 years |
24 |
41% |
|
10 - 20 years |
16 |
28% |
|
20+ years |
4 |
7% |
|
Total |
58 |
|
To pilot the agreement, staff is requesting the lease of a 2019 Chevy Bolt EV, 2019 Chevy Colorado and a 2019 Chevy Silverado. The Chevy Bolt will be the Town’s first all-electric vehicle.
|
Vehicle |
Monthly |
Annual |
Total |
|
Chevy Bolt EV |
622 |
7,464 |
37,320 |
|
Chevy Colorado |
554 |
6,648 |
33,240 |
|
Chevy Silverado |
670 |
8,040 |
40,200 |
|
Total |
1,846 |
22,152 |
110,760 |
The Town’s attorney has reviewed the agreement and has found them to be acceptable for the Town to sign.
ATTACHMENTS:
a. Resolution
b. Master Equity Lease Agreement - Government
c. GP1M - Town of Erie Addendum to Equity MLA - FM TRUST - 04.19
d. 2019 Chevy Bolt Quote
e. 2019 Chevy Colorado Quote
f. 2019 Chevy Silverado Quote