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Approve Agreement to Install LED Lights and Controls <br />Ross Annex Parking Garage, On -Bill Financing <br />November 20, 2018 <br />Page 4 <br />project incentives ($1,979), the final OBF amount (not to exceed $13,536) and repayment <br />schedule will be established. <br />• Any remaining project costs for City authorized lighting improvements not covered by SCE's <br />program will be paid from City funds in an amount not to exceed $24,413. <br />Funding is budgeted for expenditure in FY 2018-19 in the Building Maintenance — Contract <br />Services expenditure account (No. 07310100-62300), and comprises of $22,512 in project costs, <br />and $1,901 for contingencies. <br />$13,536 in OBF repayments to SCE is budgeted and available for monthly payments beginning <br />FY 2018-19 in the Building Maintenance, OBF Loan Payment account (No. 07310100-67003). <br />Subsequent fiscal years' payments will be budgeted in the same account, in accordance with the <br />following estimated repayment schedule: <br />Fiscal Year Description I Amount <br />Assumes total OBF amount is utilized and repayment begins March 2019 <br />120 Monthly Payments: $112.80 <br />2018-19 <br />4 Monthly Payments <br />$451.20 <br />2019-20 through 2027-28 <br />108 Monthly Payments <br />9 Years <br />$1,353.60 annual) <br />$12,182.40 <br />2028-29 <br />8 Monthly Payments <br />$902.40 <br />._ ,A _ __ _ <br />__ _Total <br />$13,536.00 <br />C% <br />Fuad SSeiss, PE, PLS <br />Executive Pirector <br />Public Wo ks <br />FSS:JA:CK:SS <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Kathryn Downs, CPA <br />Executive Director Ido <br />Finance and Management Services Agency <br />Exhibits: 1. SCE Notice of Approval — Incentives <br />2. SCE Notice of Approval — OBF Program <br />3. OBF Agreement — Sample Form <br />4. RFP 18-070 <br />5. Contract Agreement <br />25D-4 <br />