SUBJECT:
title
Approval of a resolution affirming the Real Estate Transaction Policy.
end
FISCAL IMPACT:
This action has no fiscal impact.
STRATEGIC PLAN:
Strategic Goal Alignment:
? 1. Customer ? 2. Community
? 3. Workforce ? 4. Organizational Effectiveness
Strategic Objectives:
? 1.1 Safe & Reliable Service ?1.2 High Quality Customer Experience ? 1.3 Accessible System
? 2.1 Support Sustainable Regional Growth ? 2.2 Become a Carbon Neutral Agency
? 2.3 Responsive to Community and Customer Needs ? 2.4 Regional Leader in Transit Planning
? 3.1 Diversity of Staff ? 3.2 Employer of Choice ? 3.3 Expand Highly Skilled Workforce
? 4.1 Fiscally Responsible and Transparent ? 4.2 Culture of Safety ? 4.3 State of Good Repair
EXPLANATION OF STRATEGIC ALIGNMENT: The policies adopted by the Board of Directors provide strategic direction to the President & CEO and CapMetro staff with regard to policy matters within the purview of the Board.
BUSINESS CASE: Periodic review and updates to policies adopted by the Board of Directors are prudent in order to ensure that they meet the ongoing needs of CapMetro and are required by the CapMetro Board Bylaws.
COMMITTEE RECOMMENDATION: This item will be presented to the full board on December 16, 2022.
EXECUTIVE SUMMARY: The Board of Director adopted Bylaws in 2017 that require policies adopted by the Board to be reviewed every five years. The initial five-year cycle ends December 2022. Staff has identified for review the Real Estate Transaction Policy which was adopted by the Board in 2014. This policy authorizes the President and CEO or their designee to enter into certain real estate transactions under terms consistent with current industry standards, including market rates, for transactions that have no significant long-term impact on CapMetro and for amounts not to exceed $150,000 per year per agreement....
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