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71 o-z <br />Staff recommends that the City funding amount for the program be set at $75,000 to <br />support 250 rebates with projected additional water savings of 7,484,500 gallons per year <br />or 22.9 acre feet. <br />Alternatives <br />1. The alternative is to withhold application to the high efficiency clothes washer rebate <br />program and setup a stand -alone city program for BMP #9. Staff would not expect this <br />approach to be as cost effective. <br />2. The Council could withhold application and direct staff to conduct a cost - benefit <br />analysis for BMP #9. If the analysis could demonstrate clearly that this program applied <br />to the Redwood City market will not be a cost effective method for reducing water use, <br />the MOU allows for exception from the BMP. <br />Fiscal Impact <br />Funds for this project are available in the Water Enterprise Fund, Conservation Rebates <br />Account (in the Capital Improvement Program) established by the City Council. The current <br />balance is approximately $507,535. <br />Manny Rosas A1" rJ f` Peter Ingram 2ve <br />Public Works Superintendent Director, Public orks Services City Manager <br />Attachment <br />Memorandum of Understanding between Cohen Ventures, Inc. and the City of <br />Redwood City <br />