Board approves $10M contract with Trapeze for asset management system implementation

The Metro Transit Authority (MTA) of Nashville convened on April 25, 2025, to discuss significant developments regarding their enterprise asset management system and the establishment of a reserve fund policy. The meeting began with a review of the proposals received for the asset management system, which were solicited in June 2024. Out of four proposals, three were deemed qualified, with Trapeze Software Group scoring the highest in the evaluation process.

The evaluation committee, comprising eight members from various departments, conducted a two-phase review that included a technical assessment and a software demonstration. Trapeze's proposal was favored due to its alignment with MTA's needs, streamlined integration capabilities, and a total implementation cost of $3.6 million, anticipated to be completed within two years. The overall investment for the project, including ongoing maintenance, is projected at approximately $10.3 million over five years.

Following the presentation, board members engaged in discussions regarding the specifics of the contract, including potential equipment upgrades and the timeline for project initiation, which is expected to commence around July 1, 2025. The board unanimously approved the recommendation to authorize the CEO to enter into a contract with Trapeze Software Group, pending final negotiations.

The second major agenda item focused on the introduction of a reserve fund policy, a new initiative aimed at enhancing financial stability for the MTA. Currently, the agency lacks a reserve fund, which is a common practice among peer agencies to manage unexpected revenue fluctuations. The board discussed the draft policy, which would allow the use of reserve funds for unforeseen state and federal grant timing issues without prior board approval, provided the issues do not exceed 180 days.

After thorough deliberation and amendments to clarify the language regarding the use of funds, the board voted to approve the reserve fund policy. This policy is expected to provide the MTA with greater financial flexibility and reduce reliance on costly lines of credit.

In conclusion, the meeting marked a pivotal step for the MTA as it moves towards modernizing its asset management capabilities and establishing a financial safety net through the reserve fund policy. The board's decisions are anticipated to significantly improve operational efficiency and service reliability for Nashville's transit system.