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34 <br />FI <br />INANCIALMPLICATIONS <br />35 <br />This project could be funded by energy savings achieved in the 2012 budget year in the Building <br />36 <br />Maintenance area or capital improvements in the Building Fund. The upfront cost to the city is <br />37 <br />approximately $66,000. The total project cost is estimated at $660,000. The payback in energy <br />38 <br />savings is 12- 13 years for the city’s initial investment with an additional projected $237,000 in <br />39 <br />energy savings in the first 30 years. Additional savings would be realized in subsequent years. <br />40 <br />The projections include an assumed 4% inflation factor on energy costs. <br />41 <br />S <br />TAFF RECOMMENDATION <br />42 <br />Staff recommends the City Council discuss the merits of solar installations on city facilities and <br />43 <br />consider authorizing staff to further study project feasibility and financing proposals from <br />44 <br />potential partners. Staff may need to sign a non-binding letter of intent on behalf of the city to <br />45 <br />further a project to final proposal for consideration by the City Council. Staff will come back to <br />46 <br />the Council with a specific recommendation at a future meeting. <br />47 <br />RCA <br />EQUESTEDOUNCILCTION <br />48 <br />Discuss Solar PV installations on city facilities and authorize staff to seek proposals for future <br />49 <br />consideration. <br />50 <br />51 <br />Prepared by: Duane Schwartz, Public Works Director <br />Attachments: A. None <br />Page 2 of 2 <br /> <br />