SUBJECT:
Title
A Resolution of the Board of Trustees of the Town of Erie Approving an Agreement with Iconergy LLC for the Energy Performance Contract
Body
DEPARTMENT: Public Works
Department
PRESENTER(S): Todd Fessenden, Public Works Director
Chad Alexander, Facilities Manager
Carl Hurst, Iconergy
First Name, Last Name, Title
TIME ESTIMATE: 20 minutes
only required for non-consent items
FISCAL SUMMARY:
Cost as Recommended: $1,600,000
Balance Available: $1,600,000
Budget Line Item Number: 100-70-440-605000-100234
New Appropriation Required: No
POLICY ISSUES:
The payback period on one project, installing solar PV panels on the Police Department, is 24 years (considering the total project cost without grant funding), which is longer than staff would normally accept to proceed with a project. However, it is still within the anticipated useful life of the equipment, reduces the Town's GHG footprint, is partially grant funded, and will eventually net generate savings to the Town (sooner than 24 years when considering the Town's investment reflecting the grant funding). For these reasons staff recommends proceeding with all 7 projects, including the solar PV panels on the PD. However, this is a policy decision the Board may look at differently.
STAFF RECOMMENDATION:
Recommendation
Approve the agreement and direct staff to expend funds.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
As Erie is a rapidly growing community that is anticipated to increase in population through 2035, there is a critical need to ensure that sustainability is woven throughout policies, decisions, and developments that support the community's growth. The Sustainability Plan is a roadmap to accomplish this, and many opportunities exist to increase the amount of renewable energy used in the Erie community, identify creative financing mechanisms for funding energy efficiency and renewable energy projects, and make use of innovative technology to...
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