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Contract Award to Install LED Lights and <br />Light Controls Agreement for On -Bill Financing Loan <br />April 4, 2017 <br />Page 3 <br />Bids were received, opened on January 25, 2017, and evaluated (Exhibit 4). The bid received <br />from Express Energy Services is responsive to the specifications and meets the City's <br />requirements. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports City efforts to meet Strategic Plan Goal #4 — City Financial <br />Stability, Objective 3 (achieve a structurally balanced budget) Strategy D (explore innovative <br />revenue and cost recovery strategies) and Goal #6 — Community Facilities & Infrastructure, <br />Objective 2 (address deferred maintenance on City buildings and equipment) Strategy A <br />(prepare a Deferred Maintenance Plan that assesses safety, adequacy, and liability implications, <br />and estimates repair costs to be programmed in the responsible agency's future budget). <br />ENVIRONMENTAL IMPACT <br />In accordance with the California Environmental Quality Act, the recommended actions are <br />exempt from further review. A Notice of Exemption will be filed for this project. <br />FISCAL IMPACT <br />The following is the spending plan for the McFadden Learning Center /PAAL Center Lighting <br />Retrofit project: <br />Receipt of Funds from SCE <br />Description Fiscal Year Amount Account <br />Cash Incentives 2016 -17 (Dec — Jun) $ 7,246.66 16210002 -57384 <br />Loan Proceeds 2016 -17 (Dec — Jun) $41,821.70 16210002 -57384 <br />Total $49,068.36 <br />Payment to Express Energy Services <br />Description Fiscal Year Amount Account <br />Cash Incentives 2016 -17 (Dec — Jun) $ 7,246.66 16210100 -62300 <br />Loan Proceeds 2016 -17 (Dec — Jun) $41,821.70 16210100 -62300 <br />Total $49,068.36 <br />Loan Repayment to SCE <br />Description Fiscal Year Amount Account <br />Loan Repayment 2017 -18 through 2026 -27 $41,821.70 07310100 -62000 <br />($4,182.17 annually) <br />251 -3 <br />