Title
MOTION TO APPROVE THE ASSIGNMENT, ASSUMPTION, AND CONSENT AGREEMENT WHEREBY BETTOLI TRADING CORP. WILL ASSIGN THE AGREEMENT FOR "VENDING MACHINE SERVICES AGREEMENT" TO COMPASS GROUP USA, INC., EFFECTIVE AUGUST 20, 2025 AND APPROVE THE FIRST AMENDMENT TO THE AGREEMENT.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. On June 25, 2024, the City Commission authorized an agreement with Bettoli Trading Corp. for vending machine services for an initial two-year term, expiring August 2, 2026, with the option for two (2) additional two-year renewals upon mutual consent of the parties.
2. The agreement provides for the furnishing, installation, stocking, replenishment, and maintenance of beverage and snack machines at various City and Charter School locations.
3. On August 20, 2025, Compass Group USA, Inc. acquired Bettoli Trading Corp. and conveyed its intent to enter into an Assignment, Assumption, and Consent Agreement to assume all obligations of Bettoli Trading Corp. under the original agreement. Pursuant to Section 22.4 of the agreement, any change of ownership requires City approval.
4. The approval request also includes a First Amendment to the agreement to update contact information and incorporate revisions required by state statute.
5. Staff is requesting Commission approval of the assignment of the Vending Machine Services Agreement from Bettoli Trading Corp. to Compass Group USA, Inc., effective August 20, 2025, along with approval of the First Amendment
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Revenue Amounts: The City receives monthly revenue based on the higher of two figures: $2,016 (calculating $56 per machine for an estimated 36 vending machines) or 20% of gross sales.
b) Amount budgeted for this item in Account No: This agreement is of no cost to the City. Revenue is allocated to the following accounts:
001-000-0800-362024-0000-000-0000 Commission-Coke Machines
170-220590-552-2220 PC Cent...
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