Committee approves amendment to First Transit payments, shifting monthly prepayments to county
Planning staff told the committee First Transit (Transdev) requested monthly prepayment equal to 1/12 of estimated federal funds (minus fare box proceeds); the committee approved amending the contract to reflect that change, noting the county will front cash and seek quarterly federal reimbursements.
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County planning staff explained that First Transit, the county's contracted transit operator (Transdev), requested a change to the payment schedule so the company would receive one-twelfth of estimated federal funds each month rather than waiting for quarterly federal reimbursements. Jack K. Wheeler said this would shift short-term cash-flow risk to the county but would allow the county to retain any additional federal funds that arrive.
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