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File #: RES PH 15-351    Version: 1
Type: Resolution-Public Hearing Status: Passed
In control: City Council
Final action: 12/2/2015
Title: Amending the financing and spending budgets in the Fire, Library and Parks and Recreation departments in order to establish the 2015 Energy Conservation Loan Program Projects. 
Sponsors: Russ Stark
Attachments: 1. RES PH 15-351 Financial Analysis

Title

Amending the financing and spending budgets in the Fire, Library and Parks and Recreation departments in order to establish the 2015 Energy Conservation Loan Program Projects. 

Body

WHEREAS, the Energy Conservation Loan Program was established in 2007 to help departments retrofit city owned facilities to reduce energy usage and carbon dioxide emissions, and

WHEREAS, Energy Conservation Loans are paid back over terms not exceeding five years through energy savings attained by the projects, and

WHERAS, departments who use the program are charged an interest rate equal to the 5-year treasury note plus 1% on the day of the loan drawdown, and

WHEREAS, the Energy Conservation Loan Program budget is adopted in the City’s annual operating budget, and

WHEREAS, three projects have been identified in 2015 to take advantage of the Energy Conservation Loan Program, and

WHEREAS, the Fire Department will use the funds for a lighting retrofit at Energy Park Drive, and

WHEREAS, the Parks and Recreation Department will use the funds for new control programming and additional variable frequency drivers (VFDs) which control heating and cooling devices at the Oxford Community Center, and

WHEREAS, the Library Department will be using the funds for the purchase of new LED lamps at the Rondo Library, so

THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor, that $61,140 is available for advance of appropriation in the operating budget, as heretofore adopted and amended by this Council, be hereby further amended in the Operating Budgets in the following particulars:

Financial Analysis

See Attachment

 

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