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File Number: 19-489 <br />·16-368/16-370; Staff report and resolution to approve a lease/funding agreement with <br />Bank of America in the amount of $5,500,000, for a duration of 15 years, for the citywide <br />energy and water efficiency projects. <br />·17-612/17-613; Staff report and resolution accepting a California Energy Commission <br />reimbursable grant in the amount of $1,995,963 plus a City match in the amount of <br />$1,922,905 (from the Water Pollution Control Plant’s Enterprise Fund). <br />Fiscal Impacts <br />The action to apply for 1% financing from the CEC in an amount up to $1.75 million is <br />non-binding, with no obligation on the City’s part to accept the loan (and no cost to apply). Staff <br />will bring detailed information on potential future energy efficiency projects to Council for <br />consideration separately, with the understanding that the projects would be implemented pending <br />identification of funding sources for repayment of the CEC 1% loan. As noted previously, the <br />proposed project to install ‘smart’ nodes on the first-generation LED street lights does not <br />currently qualify for CEC funding and alternative sources are being pursued. <br />The CEC loans are non-competitive and processed on a first-come basis and in consideration of <br />the proposed projects. As of late August, the CEC has indicated that funds remain for distribution, <br />with the CEC’s review process lasting approximately two-three months. <br />ATTACHMENTS <br />None. <br />PREPARED BY: Debbie Pollart, Director, Public Works Department <br />Page 3 City of San Leandro Printed on 9/11/2019 <br />113