Fiscal Note
The proposed resolution accepts the recommendation of the 100% Renewable Madison report proposing Scenario 3 in order to reach 100% renewables by 2030. To achieve this goal, Scenario 3 anticipates a total increase of $95 million in capital investment over a twelve-year period. The 2019 Adopted Capital Budget and Capital Improvement Plan (CIP) currently contains $122.7 million for programs highlighted in the report. Comparitively, over the five year CIP period, the plan recommends the program funding be increased by $47.5 million, or 38%, to a total of $170.2 million.
RENEWABLE
PLAN
CURRENT PROPOSAL
PROGRAM 6-YEAR CIP 6-YEAR CIP DIFFERENCE
Engineering - Facilities* $11,262,500 $15,762,500 $4,500,000
Sustainability Improvements $4,500,000 $12,500,000 $8,000,000
Metro Transit Coaches Replacement $46,205,345 $60,505,345 $14,300,000
Fleet Service Vehicle Replacement $57,583,910 $75,783,910 $18,200,000
Traffic Engineering Street Light Installations $3,180,000 $5,680,000 $2,500,000
TOTAL $122,731,755 $170,231,755 $47,500,000
*(City Owned Building Improvement Programs)
GO Borrowing is the primary funding source for these capital programs. The additional GO Borrowing for these projects will increase debt service by approximately $928,000 annually, or $5.7 million over the full CIP.
Title
SUBSTITUTE - Accepting the 100% Renewable Madison Report and adopting the recommendation that the City follow Scenario 3 measures and timeline.
Body
WHEREAS in 2017 (#45569) the Common Council of the City of Madison resolved that Madison’s energy goals must reflect scientific consensus and community aspirations and adopted by resolution a community-wide Energy and Carbon goals of 100% renewable energy and net-zero carbon emissions, within a time-frame that aligns with sound and established science, as official energy and carbon goals of the City of Madison; and,
WHEREAS the City of Madison allocated up to $250,000 from the 2017 Capital Budget for third-...
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