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P -TW <br />264 <br />Mr. Schwartz questioned if the City was successful in applications on two sites <br />265 <br />that were on larger roofs, would it lose some opportunity or be allowed to swap <br />266 <br />roofs after selected. <br />267 <br />268 <br />Mr. Kampmeyer advised that he was unsure of that result, and was also not sure <br />269 <br />how the process may work and whether or not the City may lose its place and the <br />270 <br />award drop to the next candidate. <br />271 <br />272 <br />Mr. Schwartz noted the need to consider how best t aximize the opportunity of <br />273 <br />available roof space to some extent. <br />274 <br />275 <br />Further discussion ensued regarding roof and syste apacity; cost of panels and <br />276 <br />available tax credits; structure of a capital lease sinc municipality would be <br />277 <br />unable to qualify for tax credits; purchase of the syste outright versus seeking <br />278 <br />investors able to take advantage of those tax credits and thereby reduce overall <br />279 <br />costs; and options for the City to lease the system from Sundial Solar and buy it <br />280 <br />back after expiration of the tax credits expire and end of the dir rchase <br />281 <br />agreement after 30 years; and how the City could achieve its best r on <br />282 <br />investment, with the representatives offering to provide a proforma o both <br />283 <br />options versus a loan. NL <br />284 <br />285 <br />Additional discussion included indicating that the Cit ad no money specifically <br />286 <br />targeted for solar, with some monies included in energy budgets that was already <br />287 <br />operationally budgeted and most likely used for this type of a buy back. <br />288 <br />289 Mr. Schwartz opined that a twenty-ybar agreement would provide the City with a <br />290 significant payback period, anticipating it would supply 1/3 of the power used on <br />291 some buildings. <br />292 4216 <br />293 Member Cihacek moved, Member Felice seconded, recommending staff to <br />294 recommend to the City Council that they initiate the process and associated <br />295 analyses and solicit proposals and proformas for comparison purposes, for a <br />296 three part solar system to investigate three programs: Made in Minnesota, a <br />297 Power Purchase Agreement, and a 100 KW Direct Purchase Solar system; <br />298 and to pursue those programs in accordance with Minnesota Statutes, <br />299 Chapter 471, and related requirements; with the purpose of determining <br />300 which option offers the best financial return to the City. <br />301 <br />302 Member Seigler suggested further refining the recommendation; with Member <br />303 Cihacek clarifying that those details would be addressed in the process and <br />304 analysis. <br />305 <br />306 Mr. Schwartz advised that staff would most likely wait for the City Council's <br />307 authorization before starting any of the processes, even though as noted by <br />308 Member Cihacek, time is of the essence. <br />Page 7 of 11 <br />