Agenda

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D.6

To:	Contra Costa County Fire Protection District Board of Directors
From:	Jeff Carman, Chief, Contra Costa County Fire Protection District
Date:	January 17, 2017

Contra

Costa

County

Subject:

Appropriation and Revenue Adjustment – Energy Savings Project Cash Buydown

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 01/17/2017

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, Director
Candace Andersen, Director
Diane Burgis, Director
Karen Mitchoff, Director
Federal D. Glover, Director

Contact:

Jackie Lorrekovich, Chief Admin Svcs (925) 941-3312

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: January 17, 2017
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE Appropriation and Revenue Adjustment No. 5048 authorizing use of revenue in the amount of $300,000 from fund balance and appropriating it for the first lease payment (cash buydown) to Sterling National Bank for the Energy Savings Project in the Contra Costa County Fire Protection District.

FISCAL IMPACT:

100% Special District Revenue. Use of fund balance, not to exceed $300,000, from the Contra Costa County Fire Protection District General Operating Fund (Fund No. 202000).

BACKGROUND:

The Contra Costa County Fire Protection District (District) has developed an energy infrastructure upgrade plan and is proposing a partnership with OpTerra, an energy consultant and design build firm. OpTerra has completed an assessment of the District infrastructure needs and the District issued a request for proposals for a direct placement to finance the project. Sterling National Bank was selected.

BACKGROUND: (CONT'D)

This revenue and appropriation adjustment authorizes an appropriation to make the initial lease payment (also known as the cash buydown) to Sterling National Bank, which will then transfer the funds to OpTerra, upon execution of the Energy Savings Contract and Equipment Lease Purchase Agreement.

CONSEQUENCE OF NEGATIVE ACTION:

The District will not enter into an Equipment Lease Purchase Agreement at this time to fund an energy infrastructure upgrade plan.

CHILDREN'S IMPACT STATEMENT:

No impact.