Summary
The operator will operate and manage the Facilities and related equipment on behalf of the Authority. The Operator shall be required to operate and manage the Facilities 24 hours per day, seven days per week (including weekends and holidays), with sufficient personnel to ensure an effective, efficient, courteous, and convenient parking operation for visitors, as measured by agreed-upon Key Performance Indicators (KPIs), including but not limited to uptime, transaction speed, throughput and DSC (debt service coverage). The initial term of the Agreement shall be for five (5) years. The Authority anticipates that the Agreement will have two one-year renewal options. The anticipated contract commencement date is January 1, 2027.