Fiscal Note
The Common Council previously authorized $664,145 in EECBG funding for the BEEP program (RES-10-00590, Legistar ID# 18845, 7/7/2010). This Resolution permits the CD Division to reapportion these funds in reconfigured amounts, and among a revised slate of selected BEEP projects and recipients. No additional appropriation is required.
Title
Approving the reapportionment of $664,145 in previously-approved EECBG funds for the Community Development Division’s Business Energy Incentives Program (BEEP), and authorizing the Mayor and City Clerk to execute all requisite agreements with the designated recipient businesses and organizations.
Body
Background
On July 7, 2010, the Common Council approved the funding of $664,145 in EECBG funds from the U.S. Department of Energy (DOE) for 12 energy efficiency (“BEEP”) projects (RES-10-00590, Legistar ID# 18845). The selected projects had been recommended for funding by the BEEP Review Committee out of an initial pool of 42 applicant businesses and organizations. The funding assistance awarded to each recipient was not to exceed 75% of that project’s cost, with 50% of the award provided as a grant, and 50% provided as a loan.
Subsequent to that Resolution’s enactment, a number of the recipient businesses and organizations informed the Community Development Division that they would prefer to accept the grant portion but not the loan portion of their award, thereby reducing their award by half. The net cumulative effect of this is that $137,842 of the initially approved funds for BEEP now remains unallocated.
The BEEP Review Committee, in consultation with the Community Development Division’s Energy staff, recommends that these unallocated funds be awarded to similar BEEP-eligible projects. To that end, and in consideration of the DOE’s priority directive that these Federal stimulus funds be distributed to recipients as swiftly as possible, Division staff request that the City forego another RFP process for the unallocated BEEP funds, and award the funds instead to one or more viable project proposals among those remaining from the initial pool of 42 BEEP applications.
The BEEP projects originally approved for funding in July, along with the funding reapportionments currently being requested by this Resolution. (See Attachment):
ACTION
WHEREAS, the Common Council approved $644,145 in EECBG funding for twelve Business Energy Incentive Program (BEEP) projects, and authorized the Mayor and City Clerk to execute agreements with the recipient businesses and organizations (RES-10-00590, Legistar ID# 18845, enacted 7/7/2010); and,
WHEREAS, several BEEP award recipients have subsequently indicated their preference to receive an amount less than that originally awarded to them as part of the above Resolution, thereby creating a net unallocated balance of $137,842 in EECBG funds for this program; and,
WHEREAS, the U.S. Department of Energy has issued a priority directive that these Federal stimulus dollars be distributed as swiftly as practicable to recipients; and,
WHEREAS, the potential delay inherent in creating another RFP process for distributing the unallocated funds would significantly compromise the City’s compliance with the DOE’s priority directive regarding the swift distribution of these EECBG funds; and,
WHEREAS, several viable project proposals still remain among those not previously selected for funding from the initial pool of 42 received BEEP applications;
NOW, THEREFORE, BE IT RESOLVED, that the Common Council hereby approves the CD Division’s request to forego another RFP process for distribution of the unallocated EECBG funds, thereby keeping the City in compliance with the DOE’s priority directive in this regard; and,
BE IT FURTHER RESOLVED, that the Common Council approves the CD Division’s request to reapportion the BEEP funds previously authorized in RES-10-00590 among the revised list of BEEP projects and recipients attached herein, and in the reconfigured amounts and forms of assistance indicated; and,
BE IT FURTHER RESOLVED, that the Common Council authorizes the Mayor and the City Clerk to enter into grant and/or loan agreements with the recipient businesses and organizations as required to implement the funded projects; and,
BE IT FINALLY RESOLVED, that the Common Council authorizes the Mayor and City Clerk to execute and deliver any documents necessary to accomplish the purposes of this Resolution.