Item 38 - Digital Billboards/Banners and Bus Stop Advertising/Maintenance Project Support Services

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Pyramid Group International, Inc. 6 Pyramid will work with the City attorney to verify that all ASLAs are consistent with the terms of the Agreement between the City and OUTFRONT for the provision for digital billboards and digital banners. Task 1.6. Commissioning Pyramid will assist in the commissioning of the four (4) digital billboards and six (6) digital banners. This would include ensuring that the digital billboards and banners are successfully constructed and operational in accordance with the specifications contained in Exhibit A of the Agreement between the City of Santa Ana and OUTFRONT. Per the Agreement between the City and OUTFRONT, the construction and commissioning of each digital billboard and digital banner shall be completed no later than 12 months from the date that each respective ASLA is fully executed, provided there are no significant delays. Pyramid will work closely with OUTFRONT and the City to meet the schedule and to assist in overcoming potential delays. Pyramid will keep the City informed of any potential delay and of the overall progress of the construction and commissioning. Task 2. Review of Operations and Financial Reports Task 2.1. Digital Billboards and Digital Banners Pyramid will verify that all financial reports produced by OUTFRONT and relating to the Agreement between the City and OUTFRONT include the necessary information to keep track of revenue generated, MAG payments, and revenue share due to the City. Pyramid will review all quarterly reports submitted by OUTFRONT and in particular, the details on the revenue generated from the Advertising Inventory, associated ad rates and occupancy rates. Pyramid will also confirm the minimum annual guarantee (MAG) amount due to the City each quarter and the True-up payment based on the revenue share calculation due after the end of each calendar year. If necessary, Pyramid, on behalf of the City, will audit OUTFRONT’s financial records and financial reports once annually after providing at least ten (10) days’ prior written notice to OUTFRONT. Pyramid will report any discrepancies to the City as soon as discovered and will provide updates to the City on OUTFRONT’s progress toward the resolution of any discrepancies. Task 2.2. Bus Stop Advertisement and Maintenance Pyramid will review all quarterly reports submitted by FMG and in particular, the details on the revenue generated from the Advertising Inventory, associated ad rates and occupancy rates. Pyramid will also confirm the minimum annual guarantee (MAG) amount, the Maintenance Services Cost, and the resulting Revenue Payment due to the City for each quarter.