SUBJECT: CONSENT AGENDA
Title
A Resolution of the Board of Trustees of the Town of Erie Approving the Leasing of Ford Pickups with Enterprise FM Trust
Body
DEPARTMENT: Public Works
PRESENTER/PREPARER: Todd Fessenden, Public Works Director
FISCAL INFORMATION:
Cost as Recommended: $ 27,841.86
Balance Available: $ 0
Budget Line Item Number: See chart below
New Appropriation Required: Yes
STAFF RECOMMENDATION:
Recommendation
Approve Resolution 21-019 regarding a lease agreement with Enterprise FM Trust, authorize the appropriate Town officer to execute said lease agreement, and authorize staff to pay said lease payments.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
On May 14, 2019, The Board authorized the Town to enter into a Master Equity Lease Agreement with Enterprise FM Trust regarding leasing of Town Fleet units. With this agreement, the Town will lease vehicles on an annual basis for up to a five-year period, depending on the vehicle. 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 have better safety features
* Newer vehicle have lower emissions
* Newer vehicles are more reliable
* Fixed costs each year for easier budgeting
The 2021 adopted budget includes the purchase or lease of new and replacement Fleet units. On December, 2020, the Board approved the lease agreement for vehicles included in the 2021 adopted budget. These three pickups were not included at that time:
Parks requested three additional Ford F-150 pickups. Each pickup requires, a down payment for half of the aftermarket options with the first month's payment. The remaining cost for the aftermarket options are included in the lease payments.
Separately, at the December 8, 2020, Board meeting, the Board approved the lease of a variety of vehicles, some of which were Chevy Silverados. While most of ...
Click here for full text