The proposed Modification No. M002 to Contract No. DCKA-2025-C-0040 with IPS Group Inc. seeks to exercise option year one of the contract, allowing for continued provision of parking meter equipment and services. The modification specifies a not-to-exceed amount of $6,000,000 for the period from January 31, 2026, through January 30, 2027. This contract includes services such as parking meter management, maintenance, enhancements, installation, relocation, and removal of multi-space meters within the District of Columbia.

Additionally, the modification confirms that the contractor, IPS Group Inc., is current with its District taxes, as indicated by the Citywide Clean Hands database. The contract is also certified to be within the appropriated budget authority for the agency for the fiscal year, ensuring compliance with the financial plan and budget adopted by the District. The modification reflects the administrative changes necessary to extend the contract's performance period and maintain the financial ceiling for the option year.