25B - AGMT LIGHTING FIXTURES POLICE DEPT

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Award Contract to Install LED Lights and Controls PD Administration Building, On -Bill Financing September 4, 2018 Page 4 After installation is complete and an Installation Report is finalized, the actual amount of OBF loan proceeds and project incentives will be determined and paid directly to the contractor, Energy Retrofit Co., by SCE. Since the actual project costs are not expected to exhaust the approved SCE funding, the final loan amount and repayment terms will be reduced accordingly. The contract amount includes a $24,519 contingency. $9,519 of this contingency will be covered by SCE funds. The remaining $15,000 will be paid from City funds, but only for authorized additional lighting improvements not qualified under SCE's program. City funds for the $15,000 contingency are budgeted for expenditure in FY 2018-19 in the Police Department Building and Facility — Contract Services expenditure account (No. 01114403- 62300). Funds in the amount of $26,502.20 for the FY 2018-19 OBF loan payments to SCE are budgeted and available in the Police Department Building and Facility, Loan Repayment-OBF account (No. 01114403-67003). Funds for the subsequent fiscal years will be budgeted in the same account, in accordance with the following estimated loan repayment schedule: Fuad S. Public Fiscal Year I Description I Amount Assumes total loan amount is utilized and repayment begins January 2019 First Payment $3,354.20 113 Monthly Payments. $4,629.60 First Payment $3,354.20 2018-19 5 Monthly Payments $23,148.00 108 Monthly Payments 2019-20 through 2027-28 9 Years $499,996.80 $55,555.20 annual) Total $526,499.00 iveiss, PE, PLS Director rks Agency APPROVED AS TO FUNDS AND ACCOUNTS: Sergio Vidaf'Lktz Assistant Director Finance and Management Services Agency 25B-4