Summary
To: Mayor Gary H. Katica & Commissioners
From: JP Murphy, Town Manager
Date: 3/2/2018
______________________________________________________________________
Subject:
Title
Approval of Lease/Purchase Agreements for Energy Performance Contract with ABM Building Services; City National Capital Finance, Inc.
Summary:
This item is the financing instrument for the ABM Project adopted by Resolution 2018-15. The total project cost is $1,112,390. $762,390 will be financed over 12 years at a rate of 3.529%. A draft of the terms is included, a final draft will be provided at the Commission meeting as it was not available at the time of agenda publishing.
End
Body
Previous Commission Action: The Commission previously approved the ABM project.
Background/Problem Discussion: This is the financing instrument to implement the ABM project
Expenditure Challenges: $78,167 annually, offset by realized energy savings.
Financial Implications: $78,167 will need to be allocated each year for 12 years.
Recommendation: I recommend approval
Proposed Motion: I move approval of Resolution 2018-16.