HomeMy WebLinkAbout003-2015RESOLUTION NO. 3-2015
AUTHORIZING THE TOWN MANAGER TO ENTER INTO AN ON -BILL
FINANCING LOAN AGREEMENT WITH PG&E TO REPLACE AND INSTALL 211
NEW LED STREET LIGHTS
WHEREAS, PG&E provides opportunities to convert existing public outdoor lighting to
energy efficient LED (Light Emitting Diode) lights; and
WHEREAS, conversion of existing public outdoor lighting to LED lighting is consistent
with the Town's Sustainability Action Plan, specifically Measures EG -3 (increasing outdoor
lighting efficiency), EG -4 (partnering with PG&E on energy conservation measure) and
EGJA (utilize available rebate and incentive programs to promote energy efficiency); and
WHEREAS, PG&E is proposing a loan agreement wherein they will replace existing lights
with LED fixtures at no up -front cost to the Town. In exchange, PG&E will retain savings
in electricity consumption to repay their initial investment until the loan is eventually
retired after an estimated 68 months; and
WHEREAS, replacement of existing lights with energy-efficient LED fixtures will improve
light quality and output while reducing both electricity consumption and on-going
maintenance costs; and
WHEREAS, the Town is expected to realize annual cost savings of approximately $18,098
according to PG&E once the loan is retired; now, therefore be it
RESOLVED, that the Danville Town Council authorizes the Town Manager to enter into a
General On -Sill Financing Loan Agreement with PG&E for the LED light replacements
including up to 211 fixtures.
APPROVED by the Danville Town Council at a regular meeting on January 13, 2015, by
the following vote:
AYES: Doyle, Stepper, Arnerich, Morgan, Storer
NOES: None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
CITY ATTORNEY
MAYOR