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• October 28, 2024 — City Council Franchise Fees Ordinance & Agreement <br />• November 2024 — January 2025 — Public Utilities Commission (PUC) review of <br />Franchise Fees (ex. PUC needs 90 days, this could shift to December — February 2025 <br />which means implementation is March 2025) <br />• February 2025 — Implementation of Franchise Fees (aligns one year in advance of debt <br />service payment) <br />• Tentative May 15, 2025 — Cities Issuance of Bonds for LJFD Headquarters <br />• February 2026 — Debt Service Payment <br />Staff has confirmed with the City Attorney that a public hearing is not required for the adoption of <br />an ordinance for the implementation of franchise fees and/or approval of the franchise agreements <br />with Xcel Energy. For all ordinances, a notice is posted on the City website 10 days in advance <br />of the Council's consideration to inform the public of the upcoming ordinance review. During the <br />September 23 Worksession, the Council consensus was not to have a public hearing, but instead <br />add the topic as a new business item to include the steps Council took to inform residents of the <br />process. Council should discuss and provide direction to city staff on the new business item <br />at the October 28 meeting. What additional thoughts, if any, should staff consider? <br />Attachment D is a draft electric franchise ordinance with fees for Council review. This agreement <br />has been reviewed by the City Attorney and will need to be fully approved and executed prior to <br />Xcel Energy's implementation of franchise fees on customers' bills. <br />Budget Impact <br />None. <br />Attachments <br />A. Preliminary Series 2025 General Obligation CIP Bond Schedules <br />B. Electric Franchise Fee Rate Structure Scenarios <br />C. Comparative Analysis — Property Type <br />D. Northern States Power Company Electric Franchise Ordinance with Fee <br />Page 3 of 3 <br />