SAB In the News
MBTA More Than Doubling Revenue From ATM Leases - January 10, 2008
BOSTON, MA - The MBTA Board of Directors today unanimously approved a request to lease nineteen (19) automatic teller machine (ATM) locations throughout the nation's first subway system for a term of 5 years.
Based upon a recent public procurement process, Select A Branch, Inc. was the high bidder for ten (10) locations including Government Center, North Station, Harvard, Quincy Adams, Porter, Copley, Hynes, Downtown Crossing, World Trade Center, and Courthouse Stations.
Select A Branch's bid totaled $264,400 beginning in Year 1, and will increase annually in accordance with the Consumer Price Index, but no less than 2.5% per year.
TD BankNorth was the successful bidder on eight (8) locations including North Station, South Station (three locations), Airport (three locations), and Riverside. Their bid totaled $132,000 for the first year, and will increase similarly as mentioned previously.
Bank of America was the successful bidder at Park Street with an offer beginning at $30,000 per year, and will also include the automatic increases.
The current expiring lease is for ten locations and is held by Citizens Bank, and generates approximately $200,000 per year.
"With an additional nine locations and a robust competitive bidding process, the new leases will generate $426,400 in annual non-fare revenue, which is an increase of $226,400 to the MBTA," said MBTA General Manager Daniel A. Grabauskas.
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