HomeMy WebLinkAbout057-2015RESOLUTION NO. 57-2015
AUTHORIZING THE TOWN MANAGER TO ENTER INTO AN ON -BILL
FINANCING LOAN AGREEMENT WITH PG&E TO REPLACE AND INSTALL 238
NEW LED FIXTURES WITHIN TOWN FACILITIES, STREET LIGHT
MAINTENANCE A-482
WHEREAS, PG&E provides opportunities to convert existing public outdoor lighting to
energy-efficient LED (Light Emitting Diode) fixtures; 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 measures) and
EG -7A (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 with a one-time up -front cost of $25,677. In exchange, PG&E will retain
savings in electricity consumption to repay their initial investment until the loan is
eventually retired after an estimated 111 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 $26,970
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 -Bill Financing Loan Agreement with PG&E for the LED replacements
including up to 238 fixtures.
APPROVED by the Danville Town Council at a regular meeting on July 7, 2015, by the
following vote:
AYES: Doyle, Stepper, Arnerich, Morgan, Storer
NOES: None
ABSTAINED: None
ABSENT: None
APPR ED AS TO FORM:
CITY ATTORNEY
yF
MAYOR
ATTEST:
CITY CL