miss widener. >> members of the committee, kathy widener. the airport is seeking our approval to exercise the fifth and final one-year option to our police and operating agreement with smarte carte. this extension would continue the existing formula of rent payable to the airport by smarte carte for the rental of luggage carts in the domestic terminal and international terminals, is attracted by the amount payable by the airport to smarte carte to provide free luggage carts in customs areas of international terminals. the financial terms of the contract remain the same as the current agreement with a minimum annual guarantee of $570,600 for the rental part in our domestic terminal. an estimated cost by the airport to smarte carte of $2 million to provide the free cards in the customs area of the international terminal. the reds payable by the airport will be 25% of smarte carte's gross revenues or a minimum and a guarantee of five and a $70,000, whichever is greater. the amount payable by smarte carte -- 2 smart card by the airport for the l