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8A Page 3 RESOLUTtON NO. RESOLUTtON AMENCilNG THE 2008-09 CAP{TAL #MPROVEMENT PROGRAM BUDGET TO GREATE AND FUND A �258,000 ENERGY LIGHTING RETROFiT PROJECT AND APPROVE AN ENERGY SERV{CE CONTRACT WITH RC COIdSTRUCTtON WHEREAS, since the year 2000, the City has been upgrading its facilities to make them more energy efficient; and WHEREAS, in 2007, the City joined the Association of Bay Area Gover-nments Energy Wa#ch Parknership, a joint partnership with PG&E and Energy Salutions designed to assist the City in completing energy efficient projects in public facilities; and WHEREAS, Govemment Code sections 4217.11 through 4217.17 ailow a public agency to enter into an energy servi�e rantract; and WHEREAS, the City's Finance Director used the City's opportunity cost af capital (increased for projec# risk} as the yardstick for determining which projec�s the City should pursue; and WHEREAS, through the City's inves#ment in the energy service contract, the cost of energy and the amortizing of the capital expense will be iess than the anticipated marginat cost of energy that would othervvise have been consumed; and WHEREAS, PG&E will contribute a $53,640 rebate to be paid directly to the cantractor as a portion of the project cast; and WHEREAS, the City's share of the project cost is $148,072; and WHEREAS, the City will accordingly realize an estimated annual energy savings of $46,090, which wiil allow the City to recover its financial investment in this project wi#hin approximately 3 years; and WHEREAS, on July 21, 2008, #he City Council approved its Fiscal Year 2008-09 budget; and WHEREAS, the Fiscai Year 2008-09 biadget did not include a new project appropriating funding for a Energy l.ighting Retrofit program from Capita! (mprovement Projects Unfunded fund balance. ATTY/RESOlRE50.1859 100208