Roosevelt Island Tram Operations And Wayfinding Signage On Agenda For January 24 RIOC Operations Advisory Committee - RIOC To Negotiate New Tram Franchise Agreement With NYC

The Roosevelt Island Operating Corp (RIOC) Operations Advisory Committee is meeting later today. According to RIOC:

PLEASE TAKE NOTICE that a meeting of the Operations Advisory Committee Meeting of the RIOC Board of Directors will be held on Tuesday, January 24, 2017 at 5:30 P.M. at the RIOC Administrative Office, 591 Main Street, Roosevelt Island, New York.

Agenda:

1. Presentation on Wayfinding Signage.
2. Discussion of Tram Operations.
3. Any Other Committee Business that may be Brought Before the Committee.

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The Open Meetings Law of the State of New York requires that all public bodies conduct meetings, convened for the purpose of officially conducting public business, in a manner open to attendance by the general public to observe and listen.

An audio web cast of the meeting will be available shortly thereafter.

As previously reported by NYC Council Member Ben Kallos, on January 18:

Today, the City Council voted to approve a potential franchise agreement between the City of New York and the Roosevelt Island Operating Corporation (RIOC). After more than 20 years of operating without an agreement, a proposed franchise has been approved for two 25-year terms, granting the City the authority to negotiate with RIOC to continue operating the unique and iconic aerial tramway from Tramway Plaza on Second Avenue between 60th and 59th Streets over the East River to Roosevelt Island...

... The franchise fee is half of one percent (0.5%) of gross receipts collected by MetroCard swipes....

The franchise agreement permits RIOC to place advertising inside the Tramway cars and stations but not on the exterior of the cars.

More info from Stephen Miller on the first Roosevelt Island Tram Franchise agreement in 1974.

When NYC first franchised the Roosevelt Island Tram in 1974, it received 7% of revenue. In 1990, it dropped to 0.5%. https://t.co/Y19sYxH9yX pic.twitter.com/mh3xkJn9nG

— Stephen Miller (@miller_stephen) January 14, 2017