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HomeMy WebLinkAbout046 - 04/16/2019 - APPROPRIATING UNANTICIPATED GRANT REVENUE IN THE LIGHT AND POWER FUND FROM BLOOMBERG PHILANTHROPIESORDINANCE NO. 046, 2019
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED GRANT REVENUE IN THE
LIGHT AND POWER FUND FROM BLOOMBERG PHILANTHROPIES
FOR RESIDENTIAL EFFICIENCY PROJECT LOANS -
WHEREAS, under Ordinance No. 033, 2012, the City established a Home Efficiency
Loan Program, also known as On-Bill Utility Financing (OBF), which enabled Fort Collins
Utilities to offer financing and. on-bill servicing of customer loans for energy efficiency; water
efficiency and renewable energy upgrade projects; and
WHEREAS, between 2013 through 2016, OBF provided low-cost financing for energy
efficiency, solar photovoltaic, and water conservation improvements, in support of Utilities`
efficiency and conservation efforts, and policy goals from Plan Fort Collins; the Climate ActionClimate
Plan and the Energy Policy and Water Conservation Plan; and
WHEREAS, in February 2018, the City was selected as a Champion City as part of the
2018 Bloomberg U.S. Mayors Challenge competition; and
WHEREAS,in conjunction with selection as a Champion City,Bloomberg Philanthropies
awarded the City$1M over three years to further develop a program to improve energy efficiency
of low-to moderate-income rental households;and
WHEREAS, City staff and the City Manager recommend appropriating the Bloomberg
Philanthropies grant award funds to increase participation by low.- and moderate-income
households in enhanced OBF loans for residential energy efficiency and renewable energy upgrade
programs administered as the EPIC Loan Program; and
WHEREAS,:EPIC Program loans incentivize rental and owner-occupied property owners
to invest in energy-efficient improvements, advancing public benefits to health, safety and welfare
by supporting the City's progress toward 2030 community energy and climate objectives; and
WHEREAS, thea initial grant distribution of $100,000 requires appropriation in 2019 to
support the EPIC Loan Program-, and
WHEREAS, Article V, Section 9, of the City Charter permits the City Council to make
supplemental appropriations by Ordinance at any time during the fiscal year,provided that the total r
amount of such supplemental appropriations; in combination with all previous appropriations for
that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be
received during the fiscal year; and
WHEREAS, City staff has confirmed that the appropriation of the Bloomberg
Philanthropies grant award as described herein will not cause the total amount appropriated in the
Fort Collins Utilities' Light and Power Fund to exceed the current estimate of actual and
anticipated revenues to be received in that fund during the fiscal year; and
WHEREAS, the City Council has determined it is desirable to enhance the program
4-.
incentives and financing options for'EPIC/OBF loans and provide flexibility in the administration
of those loans for rental and owner-occupied properties, in furtherance of the conservation benefits
available to ratepayers through City Utility energy efficiency and renewable energy upgrade
programs, as required by Article XII, Section 6 of the City Charter.
NOW, THEREFORE;BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.,
Section 2. That there is hereby appropriated from unanticipated grant revenue in the
Light and Power Fund the sum of ONE HUNDRED THOUSAND DOLLARS ($100,000) for
expenditure in the Light and Power Fund for the EPIC residential efficiency project loan program.
Introduced, considered favorably on first reading, and ordered published this 19th day of
March, A.D. 2019, and to be presented for final passage on the 16th day of April,A.D. 2019.
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Passed and adopted on final reading on the 16th day of April, A.D. 2019.
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