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AGENDA INFORMATION SHEET PROJECT: Consider extension of an existing franchise agreement with Steve B. Raney and Wendy L. Raney, dba Yellow Cab Company, for operation of a taxi-cab service. BACKGROUND: The Franchise Ordinance with the City's current taxi-cab service ends on July 13, 2001. The current franchisee has requested a renewal of the franchise agreement. DESCRIPTION: The proposed franchise agreement extension would contain terms and provisions essentially similar to the existing franchise, with a few exceptions. Consistent with the franchise agreement proposed for the new service offered by City Cab Company, the extension of the franchise agreement would contain language increasing the required insurance coverage to $25,000 per occurrence, $50,000 per event, for personal injury coverage, and $25,000 for property damage. This enhanced insurance coverage is consistent with today's insurance demands and other prior City ordinances. In addition, the proposed franchise extension would include language acknowledging that the City may adopt a new regulatory ordinance in the future to regulate vehicles for hire. Adoption of this ordinance would allow the renewal process for taxi-cabs operations to be based on the issuance of a license, and would simplify the procedure considerably over the current franchising process. Issuance of this new franchise agreement is conditioned upon the understanding that the City may adopt such a new ordinance, and supercede the franchise. In addition, the proposed franchise extension is for one year duration, again in anticipation of consideration of a new regulatory ordinance. COST: There is no cost to the City for issuance of the new franchise ordinance. RECOMMENDED ACTION: Consideration for approval of the franchise extension ordinance. STAFF CONTACT: Larry W. Schenk, City Attorney SCHEDULE: This item was considered for approval on first reading at City Council's regular meeting of May 10, 2001, with subsequent consideration for approval at City Council's May 14, 2001, meeting, and final approval upon third reading at City Council's June 11,2001, regular Council meeting. Approval in this manner is consistent with the City's Charter. COUNCIL DATE: Consider for approval on third and final reading at City Council's June 11, 2001, regular Council meeting. ADDITIONAL MATERIALS: See enclosed ordinance extending the existing franchise agreement, subject to certain revisions therein.