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this installation of panels manufactured in Mountain Iron, MN. Mr. Streier <br /> briefly reviewed that MN State Statute requirement(Chapter 471.345) and how <br /> energy savings needed to be guaranteed, with the application designed to take <br /> advantage of federal solar tax incentives for such projects. Mr. Streier addressed <br /> funding, with a 10% down payment required of the City, and anticipated return on <br /> investment or a payback period of approximately 12.5 years; and based on his <br /> firm's review of the City's actual Xcel energy bills and based on the size of the <br /> system needed. Mr. Streier advised that his firm handled all engineering, design, <br /> installation, equipment and financing components after the City's initial 10% <br /> down payment. Mr. Streier advised that the lease structure allowed Newport to <br /> monetize federal tax credits and beneficial depreciation. <br /> Mr. Streier advised that any risk was on Newport Partners as a guarantor, and if <br /> they didn't match up with actual performance over the twenty (20) years required <br /> by MN State Statutes, Newport would be required to pay the City for that amount <br /> of energy. Mr. Streier opined that there was very little risk to the City from that <br /> standpoint. <br /> Mr. Schwartz noted that there was one other MN manufacturer who had done <br /> installations for the City of Maplewood, and since only operational for about six <br /> (6) months, staff was researching further information from them on that <br /> installation and that manufacturer. <br /> Mr. Schwartz asked Mr. Streier if, beyond this Xcel rebate program, there were <br /> tax credits available for private citizens for home installations. <br /> Mr. Streier responded affirmatively, advising that residential customers were their <br /> main customers; however, they do not finance residential customers. <br /> Chair Vanderwall thanked Mr. Streier for his attendance and informative <br /> presentation. <br /> 8. LED Retrofit Plan <br /> Due to the latest of the hour, Chair Vanderwall requested that this item be <br /> deferred for a future meeting. <br /> 9. Possible Items for Next Meeting—April 23, 2013 <br /> Mr. Schwartz advised that he would be out-of-town for Emergency Management <br /> Training for the April meeting, but noted that City Engineer Bloom would be <br /> available to serve as staff liaison. <br /> • LED Retrofit Plan <br /> • Open Meeting Law Discussion with City Attorney <br /> • Discuss County Road B-2 Sidewalk Plan <br /> • Pathway Master Plan and Natural Resources and Trails Subcommittee <br /> (NRATS) Update. <br /> Page 13 of 14 <br />