07-558Council File # �7—�js
Green Sheet # 3040490
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
Pzesented by
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Resolufion Establishing Policy for Managing the Energy Conservafion Investment Fund
/�
WHEREAS, the Saint Paul City Council and Mayor Ckuis Coleman have championed efforts to preserve the
environment and make the City of Saint Paul a national model for environmental protection and energy efficiency;
and,
WHEREAS, these efforts have been coordinated through the mission of Sustainable Saint Paul; and,
WFIEREAS, tUe 2007 budget discussions included consid�ation of progxams that:
A. Retrofit CiTy owned facilities, including those of the Library Agency, to reduce energy usage and carbon
dioxide (CO2) emissions;
B. Pay for energy initiatives that will benefit the environment; and,
WHEREAS, a pledge of up to $1 million dollars has been proposed from the Sewer Fund to finance loans made by
the Energy Conservation Invest Fund for retrofitting City facilities;
NOW. THEREFORE BE IT
RESOLVED that:
A. The Energy Conservation Investment Fund is established to provide for the retrofitting and energy
initiatives programs;
B. Up to $1,000,000 may be outstanding at any one time from the 5ewer Fund to provide proceeds to
finance intemal loans from the Energy Conservation Investment Fund for the retrofitting program;
C. The proceeds will be loaned from the Sewer Fund in annual increments through 2010 or until
$1,000,000 in proceeds have been loaned, whichever occurs first;
D. The maxunum annual loan from the Sewer Fund to the Energy Conservation Investment Fund will be
set at the amount of actual retrofit project costs, less any project receipts such as energy incentives or
rebates;
E. Unspent funds shall be returned to the Sewer Fund at year-end;
F. Addirional loans may be authorized by action of the City Council;
G. Any up-front rebates will be used as project revenues of the Energy Conservation Investment Fund;
H. Budgeting procedures sha11 follow the normal process for this fund type.
BE IT FURTHER RESOLVED for the retrofit program that:
A. The ini6al plan for a retrofit project will be reviewed and accepted by Public Works, the Office of
Financial Services, and other appropriate depar4ments to deternune the scope, proposed intemal loans
for the retrofit and principal fee, and otUer factors of importance in providing for a successful project;
B. An intemal loan agreement for the retrofit project and principal fee shall be executed between the
Energy Conversation Investment Fund and the benefiring acrivity before a project is undertaken. The
loan amount shall be based on estimates from a purchase order or master contract with a completion date
specified by the project manager;
C. The terms for repayment of the retrofit internalloan shalt provide for annual installments with the fust
payment due in the subsequent budget year following completion of the project. The loan repayment
shali not exceed five years;
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E.
171
G.
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BE IT FURTHER RESOLVED for the energy inifiatives program that:
A. This program will be fmanced by the principal fee;
B. Program spending will be for grants and loans for one-time financing for energy initiatives;
C. Sustainable Saint Paul shall be responsible for developing guidelines to admiuister this prograui
including provisions that specify if grants and loans are to be awarded on an individual basis or by total;
D. The guidelines for administering the energy initiatives program will be developed by October 1, 2007;
E. The Saint Paul City Council will approve the award of grants and loans;
F. In no case shall the repayment term for a loan exceed five years.
AND BE IT FINALLY RESOLVED for Sustainable Saint Paul that:
The retrofit intemal loan shall be for all amounts expended by the Energy Conservarion Investment Fund
for a project including the cost of the consultant and the retrofit expenses less any up-front rebates and
other revenues of the benefiting activity that aze used as revenues in the Energy Conservarion
InvestrnentFund;
A principal fee of 25% of the loan shall be added to all retrofit projects. The principal fee shall be
collected in installments with the retrofit loan or as a sepazate internal loan agreemen� The principal fee
will be used to finauce the energy initiatives program;
The terms for repayment of the principal fee internal loan shall not exceed five yeazs. To lessen the
financial demands on the benefiting activity, this five yeaz term may be staggered from the repayment
term for the retrofit portion of the loan. However, in no case shall the date for final payment for the
principal fee be more than seven years after the initial payment was due on the retrofit loan as required
by subsection C, line 42;
Annually, the Energy Conservation Inveshnent Fund shall pay to the Sewer Fund an amount equal to the
annual proceeds it receives from internal loan payments less amounts received as the principal fee for
the energy initiatives program;
All funds from the Sewer Utility Fund used to fmance loans for the Bnergy Conservation Inveshnent
Fund will be repaid in full;
No interest shall apply on any loans from the Sewer Utility Fund.
A. The annual work p]an shall incorporate goals and objectives for the programs contained in the Energy
Conservation Investment Fund;
B. The annual report shall include outcomes, accomplishments, and suggestions for the programs contained
in the Energy Conservation Investment Fund.
Requested by Department oE
Bostrom
_, �.. i
✓
Adopted by Council: Date
Adop6on Certified by Counc
By: �
Approved by
B �
79
Date
Form Approve l�by Ty�rYtt�o� e��
BY� Y7ti i SGi_ ;>/) • 6�
!/O CP�
Secretary Form A ve by yor or ," � to to Council
%c�<i7r s By: / ' `�F "
�� .�-r'r,�nis�
D� SSS'
� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
pW -r�n�wo�
CoMact Person & Phone:
Rhonda Gillquist
266-6070
�wust ee on
73-JUN-07
Doa Type: RESOLUTION W!$ TRANSAC
E-DOCUmeM Required: N
DocumeM Co�rtac[: Larry Michalitsch
CoMact Phone:
06-JUN-07
�
assiyo
Number
For
Routing
Order
Totai # of Signature Pages _(Clip All Locations for Signature)
Green Sheet NO: 3040490
0 licWorks De Accountant
1 ticworks De entDirector
2 cial Services ce ESnancial Services
3 ' At[orne
4 or's Office Ma or/Assisfant
5 unrit C5 Council
6 ' Clerk CS Clerk
Approval of resolufion establishing policy for management of the Energy Conservarion Investment Fund.
iaa[ions: npprove �H� or rs
Planning Commission
CIB Committee
Civil Service Commission
7. Has this person/firm ever worked under a conVact for this department?
Yes No
2. Has this persoNfirm ever been a city employee?
Yes No
3. Does this persoNfirm possess a skill not normally possessed by any
current city employee?
Yes No
Explain ali yes answers an separate sheet and attach to green sheet
i3
Initiatirtg Problem, lssues, Opportunity (Who, What, When, Where, Why):
This docwnent establishes a policy to manage the Energy Conservarion Inveshnent Fund for the retrofitting of City owned facilities,
including those of the Library Agency, ro reduce energy usage and carbon dioxide (CO2) emmissions which will have a posiflve
impact on the environment.
AdvanpgeslfApproved:
There will be an established policy on how the Energy ConservaUOa Investrnent Fund will be managed.
�, ,�, �- ; ` �°^°
.. . . r _. , ,. . _;
Disadvantages If Approved:
None
DisadvaMages If Not Approved:
There will be no established policy in place for the Energy Conservation Invesknent Fund.
Trensaction:
Funding Source:
Fnancial lnformation:
(Explain)
4,.aa+ `:�" '`r;� �S�' . .�
CosUFevenue Budgeted:
���i 4 �_- 2��7
-: r c..""'�,°```;_>:
nMiviry Number: 23332501 and 260-220�0
J
June 6, 2007 9:49 AM Page 1
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