HomeMy WebLinkAbout8.1 Energy Efficiency and Infrastructure Improvement ProjectsSTAFF REPORT
CITY COUNCIL
Page 1 of 6
Agenda Item 8.1
DATE:June 1, 2021
TO:Honorable Mayor and City Councilmembers
FROM:Linda Smith, City Manager
SUBJECT:Energy Efficiency and Infrastructure Improvement Projects
Prepared by: Laurie Sucgang, City Engineer
EXECUTIVE SUMMARY:
The City Council will consider the implementation of energy efficiency and related infrastructure
improvement projects. The City Council will also consider authorizing Staff to explore funding for
the projects, which may include bond issuance or other financing, which would be brought back to
the City Council for final approval.
STAFF RECOMMENDATION:
Receive a report summarizing the recommended Energy Efficiency and Infrastructure
Improvement Projects resulting from the Investment Grade Audit conducted by Willdan Energy
Solutions and provide direction to Staff on project implementation and the exploration of project
funding.
FINANCIAL IMPACT:
As approved in the 2020-2025 Capital Improvement Program (CIP), there is approximately
$2,445,000 allocated towards various projects that include all or portions of the energy efficiency
projects presented in this report: Citywide Energy Improvements Project (CIP No. GI0121),
Resiliency and Disaster Preparedness Improvements Project (CIP No. GI0221), Dublin Ranch
Street Light Improvements Project (CIP No. ST0417), Solar Photovoltaic Canopies at The Wave
(CIP No. GI0321), and the Library Tenant Improvements Project (CIP No. GI0002).
On November 17, 2020, the City Council approved a design-build energy savings contract with
Willdan Energy Solutions, to prepare an Investment Grade Audit (IGA) that includes proposed
construction projects that will achieve energy savings and facility improvements. If the City
Council chooses to proceed with construction of any of the energy efficiency projects, there is no
cost for the IGA. If the City Council opts to forgo any of the construction projects, the City will be
subject to pay $125,000 for the engineering and design services completed during the IGA phase.
The total cost of the projects proposed through the IGA process is approximately $21,226,500. If
1415
Page 2 of 6
all projects are constructed, there is a potential annual savings of $693,900 and a lifetime savings
(25 years) of $25,900,000. Taking into account the $2,445,000 of funding within the CIP,
approximately $18,800,000 of additional funding is necessary to construct all the projects.
Options for funding the projects are presented in the Funding and Financing Options section near
the end of the Staff Report.
DESCRIPTION:
Background
In the last several years, the City has taken steps toward increasing resiliency to become better
prepared for emergency events (such as PG&E’s Public Safety Power Shutoff events in October of
2019 and 2020), and more recently, to meeting its Climate Action Plan goals and addressing core
infrastructure needs.
Specifically, the City has taken the following actions:
On June 9, 2020 the City Council adopted the Five-Year Capital Improvement Program
(Resolution No. 54-20) which included the Resiliency and Disaster Preparedness
Improvements project, Citywide Energy Improvements project, and the Solar Photovoltaic
Canopies at The Wave project.
On September 15, 2020 the City Council adopted the Climate Action Plan 2030 and Beyond
(Climate Action Plan), which identified Dublin’s plan to significantly reduce carbon
emissions by 2030 and the goal of reaching carbon neutrality by 2045.
In response to the State law transitioning California’s transportation sector to zero
emissions by 2035 (Executive Order N-79-20 of September 2020), Staff has been
developing a plan to transition the City’s fleet of internal combustion engine vehicles to
battery-electric vehicles and looking for opportunities to install infrastructure for electric
vehicle charging for the fleet vehicles.
On November 17, 2020 the City Council approved a design-build energy savings contract
with Willdan Energy Solutions, to prepare an Investment Grade Audit (Staff Report
included as Attachment 1).
Investment Grade Audit
The Investment Grade Audit (IGA) prepared by Willdan provides an in-depth analysis of the
financial aspects of energy savings and the return on investment from potential changes or
upgrades to City facilities that are in alignment with resiliency goals, as well as getting the City
closer to meeting its Climate Action Plan goals and addressing core infrastructure needs. The
project is separated into two main phases: Phase 1 is project development, which is substantially
complete, and Phase 2 is implementation of selected projects.
This Staff Report presents the results of Phase 1, the identification of projects recommended for
the implementation phase, Phase 2, and asks the City Council to provide direction on next steps.
In addition to energy savings and cost savings, many of the proposed projects Staff and Willdan
also considered how each project may improve the facility’s service and role in the City’s
Emergency Operations Plan and the Tri-Valley Local Hazard Mitigation Plan.
1416
Page 3 of 6
Results of Phase 1 – Identified Projects
The scopes of work of the identified projects generally include replacement of aged and
maintenance-intensive heating, ventilation, and air conditioning (HVAC) systems, upgrading of
facilities to web-based and wireless controls, converting facility and park lighting to light-emitting
diode (LED) systems, installation or replacement of back-up generators, installation or upgrade of
back-up systems at 23 traffic signal intersections, installation of one megawatt of solar
photovoltaic (PV) systems at multiple sites, and installation of resiliency systems with batteries
and generators.
The summary below separates projects into three general categories and indicates if they are a (1)
planned Capital Improvement Project (CIP), (2) replacement of equipment at the End of its Useful
Life (EUL), (3) Energy Efficiency and Resiliency project (EE), and/or (4) an improvement or goal
identified in the Climate Action Plan (CAP).
The total cost in each category is the “turnkey” cost, which includes design and engineering,
subcontracts, utility program and grant management as applicable, permits and fees, financing
support as needed, construction management and field supervision, operations and maintenance
support, measurement and verification, and guaranteed savings for the selected term.
Renewable, Resiliency, and Disaster Preparedness Projects
The total cost of projects in this category is approximately $12,715,500. These costs are based on
actual bids from contractors solicited in February and March 2021.
1.Generator at Dublin Library – install a new generator; CIP
2.Generator at Shannon Community Center – install a new generator; CIP
3.Generator at Fire Station 16 – replace the existing generator; CIP, EUL
4.Generator at Fire Station 17 – replace existing generator; CIP, EUL
5.Generator at Fire Station 18 – replace existing generator; CIP, EUL
6.Traffic Signal Resiliency – at 23 intersections throughout the City, install new or upgrade
existing battery backup units or install hydrogen fuel cell backup at major intersections;
CIP, EE
7.EV Charging and Solar PV at Dublin Sports Grounds – install electric vehicle charging
stations and solar photovoltaic canopies in the parking lot of the Dublin Sports Grounds for
public use; EE, CAP
8.EV Charging and Solar PV at Public Safety Complex – install additional electric vehicle
charging stations and solar photovoltaic canopies in the parking lot for fleet vehicle use; EE,
CAP
9.Solar PV with Battery Energy Storage at Civic Center – install additional solar
photovoltaic canopies in the parking lot with new battery energy storage units; EE, CAP
10.Solar PV with Battery Energy Storage at The Wave – install solar photovoltaic canopies
in the parking lot with battery energy storage units; CIP, EE, CAP
1417
Page 4 of 6
11.Solar PV with Battery Energy Storage at the Corp Yard – install solar photovoltaic
systems on the roof with battery energy storage units; EE, CAP
12.Solar PV with Battery Energy Storage at the Senior Center – install additional solar
photovoltaic systems on the roof with new battery energy storage units; EE, CAP
13.Solar PV at Dublin Library – install solar photovoltaic systems on the roof of the Library
and associated roof patching/repair to support the new solar; CIP, EE, CAP
14.Solar PV at Fire Station 17 – install solar photovoltaic systems on the roof; EE, CAP
15.Solar PV at Fire Station 18 – install solar photovoltaic systems on the roof; EE, CAP
16.Solar PV at Fallon Sports Park – install solar photovoltaic canopies in the parking lot; EE,
CAP
Note: Solar PV systems are sized based on the load at the facility and the smaller sites were
bundled into a large project to provide an economy of scale. Otherwise, the smaller sites are
too small to be economical as standalone projects.
Lighting and Controls Upgrades Projects
The total cost of projects in this category is approximately $6,665,000. These costs are based on
actual bids from contractors solicited in February and March 2021.
17.Dublin Sports Grounds Park and Ballfield Lighting – replace inefficient metal halide
lamps with modern LED solutions in the baseball fields, soccer fields, and within the sports
grounds; EE
18.Emerald Glen Park Sports Court Lighting – replace inefficient metal halide lamps with
modern LED solutions at the skate park, tennis courts, and basketball courts; CIP, EE
19.Fallon Sports Park Ballfield and Sports Court Lighting – replace inefficient metal halide
lamps with modern LED solutions in the baseball fields, softball fields, soccer fields, tennis
courts, and basketball courts; CIP, EE
20.Kolb Park and Sports Court Lighting – replace inefficient metal halide lamps with
modern LED in the tennis courts and within the park; EE
21.Mape Memorial Park Lighting – improve lighting in areas near the pedestrian bridge,
walkways, and within the park; CIP, EE
22.Ted Fairfield Park Lighting – improve lighting in areas near the pedestrian bridge and
restroom building, and replace existing damaged light pole bases and hardware; CIP, EE
23.Alamo Creek Park Lighting – improve lighting in areas near the pedestrian bridge,
parking lot, and within the park; CIP, EE
24.Interior and Exterior Building/Facility Lighting –replace inefficient lighting with
modern LED at various facilities: Dublin Library, Corp Yard, Heritage Park and Museums,
Shannon Community Center, Fire Station 16, Fire Station 17, Fire Station 18, and at The
Wave;CIP, EUL, EE
25.Dublin Ranch District Streetlights Upgrade – replace or retrofit existing metal halide
and high-pressure sodium vapor streetlights with LED technologies to reduce the total
1418
Page 5 of 6
energy costs; CIP, EE
Mechanical, HVAC and Controls Upgrades Projects
The total cost of projects in this category is approximately $1,846,000. These costs are based on
actual bids from contractors solicited in February and March 2021.
26.Dublin Library HVAC and Controls – replace existing roof-mounted gas boiler with a new
high efficiency condensing boiler, expansion tank, circulation pump, local temperature
sensors, pressure gauges, valves, insulation, any necessary piping, replace all five of the
existing roof-top units with new high efficiency packaged units, and wireless controls
system; CIP, EUL, EE
27.Senior Center HVAC and Controls – replace eleven of the twelve existing roof-top units
with new high efficiency packaged units along with modifications to the ductwork,
electrical, and condensate systems, as needed, and wireless controls system; EUL, EE
28.Shannon Community Center Retro-commissioning HVAC – since the fifteen units are
not yet at the end of their useful life, retro-commissioning is recommended on equipment
every few years to ensure systems continue to operate optimally; EE
29.Heritage Park and Museums HVAC and Wireless Controls – replace unit at the Museum
building with a high efficiency unit, corresponding thermostats, along with modifications to
the ductwork, electrical, and condensate systems, as needed, and wireless controls systems
at Kolb House, Sunday School Barn, Old Raymond’s Church, and the Museum; EUL, EE
30.The Wave Pool Control System Firmware Upgrade – update the firmware of the pump
controller software for the chemical circulation and filtration pumps for the four bodies of
water; EUL
31.Fire Station 16 Wireless Controls – since the four units are not yet at the end of their
useful life and are functioning in a decent condition, the replacement can be deferred,
however, installation of a wireless controls system is recommended to reduce energy
consumption and costs; EE
32.Fire Station 17 HVAC and Wireless Controls – replace four units with new high efficiency
units along with modifications to the ductwork, electrical, and condensate systems, as
needed, and wireless controls system; EUL, EE
33.Fire Station 18 HVAC and Wireless Controls – replace two of the three units with new
high efficiency units along with modifications to the ductwork, electrical, and condensate
systems, as needed, and wireless controls system; EUL, EE
Funding and Financing Options
There are multiple options to fund public projects; three of the most common are provided below.
Staff recommends doing projects in a comprehensive manner rather than piecemeal to take
advantage of economies of scale, to benefit from energy and cost savings immediately, to lock in
the competitive bid prices received earlier this year in anticipation of increases in construction
costs, and to take advantage of low interest rates.
1419
Page 6 of 6
1.Capital Outlay - As approved in the 2020-2025 CIP, there is approximately $2,445,000
allocated towards various projects that include all or portions of certain energy efficiency
projects. The total cost of the projects is approximately $21,226,500. For the City to fully
fund the projects, an additional $18,871,500 would need to be allocated from the City’s
General Fund Reserves.
2.Bond Issuance – The City may explore the use of a revenue bond to finance all or some of
the projects. Current interest rates for a 25-year term lease-revenue bond are between 2%
and 3%. Factors for consideration include the City’s credit rating, the value of holding on to
cash now, and the ability for the City to make annual debt service payments.
3.Tax Exempt Lease-Purchase Agreement –Leasing energy-related improvements,
especially the use of tax exempt lease-purchase agreements for energy efficient-equipment,
is a common and cost-effective way for state and local governments to finance upgrades
and then use the energy savings to pay for the financing cost. Leases often have slightly
higher rates than bond financing but can be a faster and more flexible option.
Dublin has some experience with lease financing. In 2012, the City entered into an Energy
Services Contract with Chevron Energy Solutions for various energy related improvements
and utilized the lease financing option, in addition to the contribution of Internal Service
Fund reserves. The lease amount was $6,928,772 and the projected interest was
$1,381,055. In 2018, the City opted to pay off the lease early.
If the City Council chooses to proceed with construction, Staff recommends that the City Council
direct Staff to further evaluate the funding options listed above and bring forward a
recommendation on the best way to proceed.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
ATTACHMENTS:
1) November 17, 2020 City Council Staff Report (without attachments)
1420
Page 1 of 3
STAFF REPORT
CITY COUNCIL
DATE: November 17, 2020
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT: Contract with Willdan Energy Solutions for an Investment Grade Audit
Prepared by: Laurie Sucgang, City Engineer
EXECUTIVE SUMMARY:
The City Council will consider approving a contract with Willdan Energy Solutions to
proceed with an Investment Grade Audit to develop energy efficiency and infrastructure
improvement projects.
STAFF RECOMMENDATION:
Adopt the Resolution Approving a Design-Build Energy Savings Performance Contract
with Willdan Energy Solutions.
FINANCIAL IMPACT:
There is no direct financial impact associated with the agreement at this time. Fiscal
impacts related to specific energy efficiency measures or infrastructure improvement
projects may be brought forward to the City Council for consideration upon completion
of the Investment Grade Audit (IGA). If the City does not move any projects into
construction, the City will be subject to pay $125,000 for the engineering and design
services completed during the IGA phase. Should the City move any projects into
construction, the City will not pay for the IGA phase. All proposed projects will be
evaluated to maximize savings of utility and operational costs.
If applicable, the cost of these services will be paid for in accordance with the adopted
annual budgets in the 2020-2025 Capital Improvement Program for the Citywide Energy
Improvements Project (CIP No. GI0121) and the Resiliency and Disaster Preparedness
Improvements Project (CIP No. GI0221).
DESCRIPTION:
The Public Works Department utilizes consultants on Capital Improvement Program
CIP) projects. Services provided assist Staff in specific areas of technical and
professional expertise. Consultants are solicited through an open and competitive
Attachment 1
1421
Page 2 of 3
request for qualifications (RFQ) or request for proposals (RFP) process. The RFQ/RFP
processes are used to identify consulting firms and contractors with the necessary
background and experience to provide services and to ensure that the cost for services
is competitive. The RFQ/RFPs specify that selection would be based on quality and
completeness of submissions as well as a firm's experience with engagements of
similar scope and complexity. RFQ/RFPs were sent to firms and vendors previously
under contract with the City and to those that had expressed interest in receiving
RFQ/RFPs. The RFQ/RFPs were also posted on the City's website.
On September 23, 2019, the City issued an RFP for Citywide Energy Upgrades, which
included the development and implementation of approved projects coming from an
Investment Grade Audit (IGA). Nine proposals were received from the following firms:
1. NV5/Celtic
2. Schneider Electric
3. Partner Energy
4. SYSERCO
5. Willdan Energy Solutions
6. Information & Energy Solutions
7. EMG
8. ENGIE
9. OPTONY
After review of the proposals, Staff invited ENGIE, SYSERCO, Schneider Electric, and
Willdan Energy Solutions to interview and present their capabilities. Willdan Energy
Solutions was selected based upon its performance at the interview, its experience and
qualifications, and the qualifications of the individuals on their project team.
The IGA will contain a series of Energy Savings Measures (ESMs) and Facility
Improvement Measures (FIMs). The program is separated into two phases, each with
several distinct elements. The first phase is project development and the second phase
is implementation of the identified projects.
The components of the project development phase are incorporated into the design-
build energy savings performance contract and involve several stages of review of the
City’s assets. The IGA will provide an in-depth analysis of City property and facilities
and will be conducted to an industry standard level of detail to get competitive pricing on
subcontracted work. The audits are used to identify ESMs at an investment grade level,
meaning the degree of certainty in the savings associated with projects is high at the
completion of this stage.
The completion of the IGA will result in one or more groupings or packages/phases of
ESMs and FIMs that are feasible for the City to implement. The components of the
project implementation phase will be incorporated into one or more Energy Services
Contracts. Staff will return to the City Council at a subsequent date to request approval
of any Energy Services Contracts.
1422
Page 3 of 3
California Environmental Quality Act
The action being considered does not constitute a “project” within the meaning of the
California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines section
15378(a) as it has no potential for resulting in either a direct physical change in the
environment, or a reasonably foreseeable indirect physical change in the environment.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS:
1. Resolution Approving a Design-Build Energy Savings Performance Contract with
Willdan Energy Solutions
2. Exihibt A to the Resolution - Design-Build Contract Willdan Energy Solutions
3. Request For Proposals for Citywide Energy Efficiency Projects
4. CIP No. GI0121 and No. GI0221
1423
Item 8.1
Energy Efficiency and
Infrastructure Improvement
Projects
City Council June 1, 2021
1424
Background
•Government Code Chapter 3.2 Energy Conservation
Contracts
•Section 4217 –“To help implement the policy set
forth in Section 25008 of the Public Resources Code,
and to extend that policy to facilities of local
governments, public agencies may develop energy
conservation, cogeneration, and alternate energy supply
sources at the facilities of public agencies…”
1425
Background
•Oct 2019 and Oct 2020 –PG&E PSPS Events
•June 9, 2020 –Adopted new CIP projects addressing
Resiliency and Disaster Preparedness, Energy
Improvements, Solar PV at The Wave
•Sept 15, 2020 –Adopted Climate Action Plan for 2030
and Beyond
•Sept 23, 2020 –Governor Executive Order N-79-20
setting statewide targets to reduce carbon pollution by
2035
•Nov 17, 2020 –Approved contract with Willdan to
perform Phase 1 Investment Grade Audit
1426
Investment Grade Audit (IGA)
•100% design & engineering w/ local subcontractor
bidding
•Prepare turnkey guaranteed savings construction
contract
Recommended Projects: $25.9M Lifetime Savings
1.Renewable, Resiliency, and Disaster Preparedness
Projects
2.Lighting and Controls Upgrades Projects
3.HVAC and Controls Upgrades Projects
1427
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness
Dublin Library
•Solar PV on
Roof
•Roof repair
•Back-up
Generator
1428
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness
Senior Center
•Solar PV on
Roof
•Battery Energy
Storage
1429
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness
The Wave
•Solar PV
Canopies
•Battery Energy
Storage
•Resilient
Microgrid
1430
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness
Dublin Sports
Grounds
•Solar PV
Canopies
•30 Public EV
Chargers
•42 add’l EV
Capable Spaces
EV Key:
EV Charging Spots
2-Port L2 EVSE
DCFC
EV Specific Meter
EV Capable Spots
M
New Solar PV
1431
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness
Public Safety
•Additional Solar
PV
•7 New Fleet EV
Chargers
•9 add’l EV Capable
Spaces
Existing EV Chargers
1432
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness
Hydrogen Fuel Cells
•11 intersections
•72 hours backup
Battery Backup Units
•11 intersections
•8 hours backup
Traffic Signals
1433
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness (1 of 2)
Location Scope of Work
Dublin Library New generator, Solar PV on roof
Shannon Community Center New generator
Fire Station 16 Replace existing generator
Fire Station 17 Replace existing generator, Solar PV on roof
Fire Station 18 Replace existing generator, Solar PV on roof
Traffic Signal –22 intersections New or upgrade Battery Backup Units or fuel cell
backup
Dublin Sports Grounds New Solar PV and EV Charging (public)
Public Safety Complex Add’l Solar PV and EV Charging (fleet)
Civic Center Add’l Solar PV and Battery Storage
The Wave New Solar PV and Battery Storage, Microgrid
1434
Location Scope of Work
Corp Yard New Solar PV on roof and Battery Storage
Senior Center Add’l Solar PV on roof and Battery Storage
Fallon Sports Park Phase 2 New Solar PV in parking lot
•Total Cost for Renewable, Resiliency, and Disaster
Preparedness Projects: $12,715,500
•Rebates and Incentives: $383,000
•Total Annual Savings: $384,100
IGA Recommended Projects
Renewable, Resiliency, and Disaster Preparedness (2 of 2)
1435
Location Scope of Work
Dublin Sports Grounds Replace lamps with LED in Baseball, Soccer, and w/in
grounds
Emerald Glen Park Replace lamps with LED in Skate Park, Tennis Courts,
Basketball Courts
Fallon Sports Park Replace lamps with LED in Baseball, Softball, Soccer, Tennis
Courts, Basketball Courts
Kolb Park Replace lamps with LED in Tennis Courts and w/in park
Mape Memorial Park Improve lighting near ped bridge, walkways and w/in park
Ted Fairfield Park Improve lighting near ped bridge, restroom, replace
damaged pole bases
Alamo Creek Park Improve lighting near ped bridge, parking lot and w/in
park
IGA Recommended Projects
Lighting and Controls Upgrades (1 of 2)
1436
•Total Cost for Lighting and Controls Upgrades
Projects: $6,665,000
•Rebates and Incentives: $40,500
•Total Annual Savings: $253,700
Location Scope of Work
Alamo Creek Park Improve lighting near ped bridge, parking lot and w/in
park
Interior & Exterior
Building/Facility
Replace lighting with LED at: Library, Corp Yard, Heritage
Park, Shannon, Fire Stations 16, 17, 18, and The Wave
Dublin Ranch Streetlight
District
Replace or retrofit metal halide or high-pressure sodium
vapor with LED; 1,574 Streetlights
IGA Recommended Projects
Lighting and Controls Upgrades (2 of 2)
1437
Location Scope of Work
Dublin Library Replace 5 units, replace boiler, wireless controls system
Senior Center Replace 11 units, wireless controls system
Shannon Community
Center
Retro-commission existing 15 units
Heritage Park and
Museums
Replace unit at Museum building, thermostats, wireless
controls at Kolb House, Sunday School Barn, Old
Raymond’s Church, Museum
The Wave Pool control system firmware upgrade
IGA Recommended Projects
Mechanical, HVAC, and Controls Upgrades (1 of 2)
1438
•Total Cost for Mechanical, HVAC, and Controls
Upgrades Projects: $1,846,000
•Rebates and Incentives: $14,500
•Total Annual Savings: $56,100
Location Scope of Work
Fire Station 16 Wireless controls system
Fire Station 17 Replace 4 units, wireless controls system
Fire Station 18 Replace 2 units, wireless controls system
IGA Recommended Projects
Mechanical, HVAC, and Controls Upgrades (2 of 2)
1439
•Total Cost for ALL Projects: $21,226,500
•Total Rebates and Incentives: $438,000
•Total Annual Savings: $693,900
$25.9M Lifetime Savings
Options:
1.Capital Outlay: $2,445,000 currently approved in
CIP; need add’l $18,871,500
2.Bond: 2-3% interest rate, 25-year term
3.Tax Exempt Lease-Purchase Agreement
Funding and Financing
1440
Capital Outlay
•$2,445,000 currently approved in CIP
•$18,871,500 additional needed
•Citywide Energy Improvements: $517,420
•Resiliency and Disaster Preparedness: $703,095
•Solar PV Canopies at The Wave: $168,150
•Library Tenant Improvements: $250,000
•Dublin Ranch Street Light: $806,335
Funding and Financing
1441
Bond Issuance
•Revenue bond –all or some of the projects
•2-3% current interest rates
•25-year term
•City’s credit rating
•Value of holding onto cash
•Ability to make annual debt service payments
Funding and Financing
1442
Tax Exempt Lease-Purchase Agreement
•Slightly higher rates than bond financing
•Can be faster and more flexible
•City experience -2012
Funding and Financing
1443
Staff Recommendation
•Receive the Report summarizing the recommended projects
•Provide Direction to Staff on the Financing and Funding
Options
Staff will return July 20 with a Construction Contract and
Financing Plan
1444
Thank You
1445