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HomeMy WebLinkAbout2008-06-02 City Council Agenda Packet 1 06/02/08 Agenda posted according to PAMC Section 2.04.070. A binder containing supporting materials is available in the Council Chambers on the Friday preceding the meeting. Special Meeting June 02, 2008 6:00 p.m. ROLL CALL Council Conference Room A. Interview of Four Applicants to the Public Art Commission Report B. Interview of Two Applicants to the Human Relations Commission Report Council Chambers CLOSED SESSION 1. CONFERENCE WITH LABOR NEGOTIATOR Agency Negotiator: City Manager and his designees pursuant to the Merit System Rules and Regulations (Frank Benest, Steve Emslie, Kelly Morariu, Lalo Perez, Sandra Blanch) Employee Organization: Unrepresented Employee Group Management & Professional Employees Authority: Government Code section 54957.6(a) 7:30 PM or as soon as possible thereafter ORAL COMMUNICATIONS Members of the public may speak to any item not on the agenda; three minutes per speaker. Council reserves the right to limit the duration or Oral Communications. 06/02/08 2 APPROVAL OF MINUTES April 07, 2008 April 14, 2008 CONSENT CALENDAR Items will be voted on in one motion unless removed from the calendar by two Council Members. 2. Approval of Four Utilities Public Benefit Contracts for: (1) Residential Energy Audits with Acterra, (2) Residential Energy Display Devices with Blue Line Innovations, Inc., (3) Commercial Energy Efficiency Programs with Ecology Action, and (4) Electric Efficiency Program Measurement and Evaluation with Summit Blue Consulting in the Combined Amount Not to Exceed $2,176,986 for a Term of Up to Three Years CMR: 257-08 Attachment 3. Approval of a Sublease Agreement Between the Santa Clara Valley Transportation Authority and Caffe Del Doge, Venezia, Inc. for a Portion of the University Avenue Depot, 95 University Avenue for a Five Year Term with Two Five Year Options to Extend CMR: 261-08 Attachment 4. Adoption of a Water Fund Budget Amendment Ordinance in the Amount of $30,000 and Approval of an Amendment to Contract C07120333 with RMC Water & Environment, Inc., to Add $25,000 for Completion of a Recycled Water Facility Plan and Preparation of Environmental Documents for Capital Improvement Program Project WS-07001, (Recycled Water Distribution System Extension) for a Total Not to Exceed Amount of $267,700 CMR: 255-08 Attachment 5. 2nd Reading Adoption of an Ordinance Amending Chapter 21.50 (Park Land Dedication or Fees In-Lieu Thereof) of Title 21 (Subdivisions and Other Divisions of Land) of the Palo Alto Municipal Code to Set the Park Land Dedication Requirement to Five Acres Per Thousand Residents (First reading May 19, 2008 – Passed 8-1 Barton no) 6. 2nd Reading Adoption of an Ordinance Amending Title 18 (Zoning) of the Palo Alto Municipal Code to Add a New Chapter 18.44 (Green Building Regulations) (First reading May 12, 2008 – Passed 8-0 Barton not participating) CMR: 262-08 Attachment 06/02/08 3 7. Adoption of a Resolution Expressing Appreciation to Biff Schaefer Upon His Retirement Proclamation 8. Adoption of an Budget Amendment Ordinance for the Fiscal Year 2007-2008 to Amend the Table of Organization to Reinstate the Deputy City Manager Special Projects Classification and Adoption of a Resolution Amending the Compensation Plan for Management and Professional Personnel and Council Appointees Adopted By Resolution No. 8748 to Reinstate One Classification CMR: 253-08 Attachment 9. Adoption of a Budget Amendment Ordinance Increasing: (1) Budget for Electric Supply Cost by $6,350,000, (2) Revenue for Electric Surplus Energy by $800,000, (3) Budget for Gas Supply Costs by $1,500,000, (4) Revenue for Gas Supply Sales by $900,000, (5) Revenue for Gas Distribution Sales by $1,000,000, (6) Budget for Water Supply Costs by $700,000, and (7) Revenues for Water Sales by $2,000,000 CMR: 252-08 Attachment AGENDA CHANGES, ADDITIONS, AND DELETIONS HEARINGS REQUIRED BY LAW: Applications and/or appellants may have up to ten minutes at the outset of the public discussion to make their remarks and put up to three minutes for concluding remarks after other members of the public have spoken. OTHER AGENDA ITEMS: Public comments or testimony on agenda items other than Oral Communications shall be limited to a maximum of five minutes per speaker unless additional time is granted by the presiding officer. The presiding officer may reduce the allowed time to less than five minutes if necessary to accommodate a larger number of speakers. UNFINISHED BUSINESS PUBLIC HEARINGS 10. TEFRA Hearing Regarding Conduit Financing for the Fabian Way Senior Apartments Project Located at 901 San Antonio Road, Palo Alto, and Adoption of a Resolution Approving the Issuance of Bonds by the California Municipal Finance Authority in an Aggregate Principal Amount Not to Exceed $14,000,000 for the Purpose of Financing the Construction of Fabian Way Senior Apartments CMR: 260-08 Attachment REPORTS OF COMMITTEES AND COMMISSIONS ORDINANCES AND RESOLUTIONS REPORTS OF OFFICIALS 06/02/08 4 COUNCIL MATTERS 11. Discussion of City Manager Selection Process 12. Colleagues Memo from Council Members Barton, Burt, and Kishimoto Regarding Tour of California 2009 Proposal Attachment COUNCIL COMMENTS, ANNOUNCEMENTS, AND REPORTS FROM CONFERENCES Members of the public may not speak to the item(s). ADJOURNMENT Persons with disabilities who require auxiliary aids or services in using City facilities, services, or programs or who would like information on the City’s compliance with the Americans with Disabilities Act (ADA) of 1990, may contact 650-329-2550 (Voice) 24 hours in advance. CMR: 257:08 Page 1 of 4 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: UTILITIES DATE: JUNE 2, 2008 CMR: 257:08 SUBJECT: APPROVAL OF FOUR UTILITIES PUBLIC BENEFIT CONTRACTS FOR: (1) RESIDENTIAL ENERGY AUDITS WITH ACTERRA, (2) RESIDENTIAL ENERGY DISPLAY DEVICES WITH BLUE LINE INNOVATIONS, INC., (3) COMMERCIAL ENERGY EFFICIENCY PROGRAMS WITH ECOLOGY ACTION, AND (4) ELECTRIC EFFICIENCY PROGRAM MEASUREMENT AND EVALUATION WITH SUMMIT BLUE CONSULTING IN THE COMBINED AMOUNT NOT TO EXCEED $2,176,986 FOR A TERM OF UP TO THREE YEARS RECOMMENDATION Staff recommends that City Council: 1. Approve and authorize the City Manager or designee to execute the attached contract for $60,000 with Acterra for Green@Home: A Residential Energy-Saving Retrofit and Volunteer-Based Audit Program; 2. Approve and authorize the City Manager or designee to execute the attached contract for $20,000 with Blue Line Innovations, Inc. to offer residential in-home electricity usage display technology to assist customers in reducing their energy use; 3. Approve and Authorize the City Manager or designee to execute the attached contract for $495,662 with Ecology Action for the Energy Edge Program, which will deliver energy retrofits to small and medium commercial customers; 4. Approve and authorize the City Manager or designee to execute the attached contract for $150,000 with Summit Blue Consulting for evaluation, measurement, and verification of the City’s electric efficiency programs; and 5. Authorize the City Manager or designee to extend each of the four contracts listed above annually for up to two additional years, subject to Council approval of sufficient funds. BACKGROUND The Long-term Electric Acquisition Plan (LEAP) objectives and guidelines set the direction for staff in planning and managing the electric supply portfolio. Council approved the LEAP Objectives and Guidelines in 2001 and 2002 (CMR:425:01 and CMR:398:02). Staff updates the 2 CMR: 257:08 Page 2 of 4 Council at least annually on progress in implementing LEAP. The LEAP implementation tasks were most recently updated in March 2007 (CMR:158:07). In addition, the City’s Ten-Year Energy Efficiency Portfolio Plan, approved by Council in April 2007 (CMR:216:07) identifies and sets high goals for gas and electric conservation and efficiency programs. The State Legislature amended the California Public Utilities Code through Assembly Bill 2021 (AB 2021) in September 2006, which requires publicly-owned utilities to set goals for energy efficiency results and implement and fund third party measurement and verification of the results of these programs. The proposed contracts with Acterra, Blue Line Innovations, Ecology Action and Summit Blue Consulting are designed to meet the state and local requirements by expanding the Utilities Department’s energy efficiency programs and bringing on third party consultants to measure and evaluate the City’s electric efficiency programs’ successes. DISCUSSION In February 2008, the City issued a Request for Proposals (RFP) seeking responses from organizations interested in providing third party energy efficiency programs, demand response initiatives, or evaluation, measurement and verification of programs. The RFP was sent to 135 consulting firms known to offer relevant services. Seven firms responded to the RFP. The firms’ qualifications and submittals were reviewed in the context of five main criteria identified in the RFP: quality of service proposed; cost effectiveness; location of the vendor; qualifications of the consultant; and the financial capability of the company to deliver the services requested in the RFP. Summary of Solicitation Process Proposal Description/Number Energy Efficiency Evaluation, Measurement & Verification, Electric Peak Demand Reduction, and Third-Party Energy Efficiency Programs, RFP Number 125914 Proposed Length of Project 36 months Number of Proposals Mailed 135 Total Days to Respond to Proposal 21 Pre-proposal Meeting Date February 27, 2008 Number of Company Attendees at Pre- proposal Meeting 23 Number of Proposals Received: 7—6 energy efficiency & 1 measurement and verification Company Name Location (City, State) Total Points Out of 300 Possible 1. Ecology Action Santa Cruz, CA 266 Proposal Amount Submitted $495,662 2. Western Blue Sacramento, CA 171 Proposal Amount Submitted $ 6,579 3. Global Energy Partners Lafayette, CA 191 Proposal Amount Submitted $515,000 4. Blue Line Innovation Ontario, Canada 250 Proposal Amount Submitted $ 20,000 5. Agilewaves Palo Alto, CA 150 Proposal Amount Submitted $192,900 6. Acterra Palo Alto, CA 228 Proposal Amount Submitted $ 60,000 7. Summit Blue Proposal Amount Submitted Boulder, CO $ 150,000 No competing EM&V responses CMR: 257:08 Page 3 of 4 Acterra, Blue Line Innovations, and Ecology Action were selected for third party energy efficiency programs based on their expertise with delivery of residential and small commercial efficiency programs. Summit Blue was chosen for the measurement and evaluation work, based on its experience in evaluating publicly-owned utility efficiency programs, including a contract with the Northern California Power Agency. Programs will be delivered by the consultants in the following areas: (1) Acterra: for residential in-home energy audits; (2) Blue Line Innovations: to offer residential in-home electricity usage display technology to assist customers in reducing their energy use; (3) Ecology Action: for delivery of a small and medium commercial customer energy efficiency program; and (4) Summit Blue: for evaluation, measurement, and verification of the City’s electric efficiency programs. RESOURCE IMPACT The total budget impact by fiscal year is shown below: Contractor Year 1 Year 2 Year 3 Total Contract Not-to- Exceed Acterra $60,000 $60,000 $60,000 $180,000 Blue Line $20,000 $20,000 $20,000 $60,000 Ecology Action $495,662 $495,662 $495,662 $1,486,986 Summit Blue $150,000 $150,000 $150,000 $450,000 Contract Estimate Per Year Total $725,662 $725,662 $725,662 $2,176,986 Note that these costs are for program development, implementation, and energy incentives payments. Cost will be paid out of the Electric and Gas Fund’s energy efficiency incentive public benefit program and resource management funds. Funds for FY 07/08 and 08/09 are included in the Electric and Gas Fund budgets. Funds for subsequent years will be subject to appropriation of funds in subsequent budgets. POLICY IMPLICATIONS The proposed contracts support the Council-approved Gas Utility Long-Term Plan, the Ten-year Energy Efficiency Portfolio Plan, the Long-term Electric Acquisition Plan, and Comprehensive Plan Goal N-9. Implementation of efficiency programs support greenhouse gas reduction goals identified in the Palo Alto Climate Protection Plan and in the California Global Warming Solutions Act of 2006 (AB 32). Development of a third party energy efficiency measurement and verification program complies with the California Public Resources Code as amended by Assembly Bill 2021. ENVIRONMENTAL REVIEW The provision of these services do not meet the definition of a project pursuant to Section 21065 of the California Public Resources Code, thus no environmental review under CEQA is required. CMR: 257:08 Page 4 of 4 ATTACHMENTS A. Contract: Acterra; B. Contract: Blue Line Innovations; C. Contract: Ecology Action; and D. Contract: Summit Blue Consulting. PREPARED BY: ________________________________ JOYCE KINNEAR Manager, Utility Marketing Services DEPARTMENT APPROVAL: ________________________________ VALERIE O. FONG Director, Utilities CITY MANAGER APPROVAL: ________________________________ STEVE EMSLIE/KELLY MORARIU Deputy City Managers CMR: 261:08 Page 1 of 5 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: ADMINISTRATIVE SERVICES DATE: JUNE 2, 2008 CMR: 261:08 SUBJECT: APPROVAL OF A SUBLEASE AGREEMENT BETWEEN THE SANTA CLARA VALLEY TRANSPORTATION AUTHORITY AND CAFFE DEL DOGE, VENEZIA, INC. FOR A PORTION OF THE UNIVERSITY AVENUE DEPOT, 95 UNIVERSITY AVENUE FOR A FIVE YEAR TERM WITH TWO FIVE YEAR OPTIONS TO EXTEND RECOMMENDATION Staff recommends that City Council approve the attached Sublease Agreement between the Santa Clara Valley Transportation Authority (VTA) and Caffe Del Doge (CDD), Venezia, Inc. for a portion of the University Avenue Depot and authorize the City Manager or designee to execute, the attached Sublease Agreement, which includes a specific provision in which the City agrees to guarantee Caffe del Doge two five year options to extend the lease in the event that the City decides to extend its own lease of the depot, which is due to expire in 2013. BACKGROUND The City signed a lease with Stanford for El Camino Park in 1915, which was amended in 1981 to include the Transit Center and the Depot. The lease for El Camino Park expires on June 30, 2033, but the City has the right to terminate the portion related to the Depot and Transit Center on February 26, 2013. On March 31, 1981, Council also approved a 32-year sublease with the Santa Clara Valley Transportation Agency (VTA) for the Transit Center and the Depot, which is due to expire on June 30, 2013 unless the City exercises its right to terminate its lease with Stanford, in which case VTA sublease expiration date is February 26, 2013. On August 6, 2007, in response to ongoing comments and ideas about locating a coffee or similar vendor at the Depot, as well as opening the Depot restrooms for public use, Council approved a Request for Proposals (RFP) to sublease a portion of the Depot for a café service. The City took the lead in developing the RFP and working with VTA and Stanford to review the proposals. Although the RFP originally anticipated a lease with the City and VTA as co-lessors, VTA as the sublessee preferred to negotiate the sub-sublease directly with the Caffe. As a result, the attached sub-sublease is between the VTA as sub-lessor and CDD as sub-sub lessee, with the City and Stanford University consenting. To finalize the agreement the City must execute the Sub-Sublease Agreement (Attachments A & B). CMR: 261:08 Page 2 of 5 The Sub-Sublease agreement not only requires the City’s consent to VTA’s sub-sublease to CDD, but CDD has also requested including a provision that will require the City to agree to (1) continue allowing CDD to lease the Depot from the City following the expiration of the sublease between the City and VTA, and (2) give CDD two five-year options to extend its sublease of the Depot with the City, in the event that the City extends its lease of the depot beyond February 26, 2013. DISCUSSION SUMMARY OF THE RFP PROCESS Following Council’s August 6, 2007 approval of the RFP, several articles appeared in the local newspapers announcing the opportunity of the lease. Staff sent RFP information flyers to 36 individuals and groups who expressed interest in leasing the property. The RFP was also added to the City’s website. The intent of the RFP is to sublease approximately 300 square feet of the main Depot building for a 5-year term to a tenant that could improve, maintain and operate the premises for food and beverage service which: 1) attracts and serves the general public; 2) provides public access to the public restrooms during hours of operation; 3) benefits the City and community as a whole; 4) preserves and maintains the historic significance of the property; and 5) does not adversely impact the other uses and tenants of the facility. The RFP requires that the improvements, maintenance and operation of the subleased premises be at no cost to the City or the VTA. The minimum bid for the monthly rental was $100, and the Lessee would not be required to pay rent for the first 6 months of the lease. Two proposals were received: 1) Caffe Del Doge, Venezia, Inc. (CDD); and 2) Passing Track Café, Co. (PTC). The proposals were reviewed by an evaluation committee comprised of representatives from Stanford, VTA, Joint Powers Board (JPB) and staff. Proposals were evaluated based on the 10 criteria required by Policy and Procedures 1-11, Lease of City property. (Attachment C). CDD has developed and operated the café at 419 University Avenue for two years. Its parent company, Caffe Del Doge, Srl, has developed 8 cafes around the world, including Italy, Japan, Egypt and Hungary. CDD’s concept is to deliver a Venetian coffee-drinking experience which includes premium quality coffee and quick, natural Venetian-style foods. Proposed improvements, estimated to cost $103,000, include adding a fixed bar which will include coffee equipment, washing machines, display cases, refrigeration, an ice machine and sinks. Seating will be added to the inside and outside as permitted by the City. The Depot will not be changed; and the outside of the bar and kitchen will be designed to fit the current look of the structure, and the furniture will be selected accordingly. The café will be open for an average of 12 hours per day 7 days a week from 6 am to 6 pm. The schedule will be adjusted depending on demand. Minimal preparation will take place on site due to space constraints, therefore most preparation of sandwiches and salads will be done at 419 University Avenue. CDD will utilize the janitor that services 419 University to service the depot daily, primarily after closure. CDD’s bid for the monthly rental is $1,500. CMR: 261:08 Page 3 of 5 PTC’s bid for rent (criteria #6) was higher than CDD however; the proposal was weak in meeting other proposal evaluation criteria, especially those relating to finances and the proposer’s experience. The financial information provided in the proposal was vague or incomplete (criteria #9 and #10). The proposal did not include the required 3-year proforma, and the source of financing was not made clear. Evidence of the proposer’s ability to carry out the proposed improvements and operate the facility and services as proposed (criteria #5) was also not included. The CDD proposal clearly established the public benefit to be provided (criteria #1) by describing specifically the type of food, service and ambience to be provided. The proposal describes the Palo Alto/Stanford demographics that have been considered in its plan for a café that will attract and please the general public and commuters (criteria #1 and #7). The proposed improvements, which are described in some detail, would meet historical standards and other requirements of the City codes (criteria #2 and #3). The proposed use and improvements as described would have no apparent adverse negative impact on the other tenants of the Depot, the immediate neighborhood or the environment (criteria #4). The proposal offers sample menus and pricing of items which are reasonable considering the high quality of food, beverages and service (criteria #8). In addition, the proposal is very strong concerning finances and experience (criteria #5, #9 and #10). CDD’s 3-year proforma analysis and budget are detailed and realistic and based on its experience operating similar establishments. Sublease Agreement The attached Sublease Agreement provides for the CDD to operate its café service for the general public in a 1,289 square-foot portion of the 5,375 square-foot depot. Major terms of the agreement include: 1) the requirement that CDD provide janitorial service to the Depot and access to the public bathrooms during its hours of operation; 2) no rent requirement for the first six months of the retail operation and a monthly rent payment of $1,500 to the VTA thereafter; and 3) improvements must be in accordance with the Secretary of the Interior’s Standards of Rehabilitation for Historic Buildings and City permitting procedures. Attachment D includes a summary of the terms of the attached Sublease. Its terms are consistent with the requirements of the RFP with the exception of two changes requested by the proposer: 1) the addition of an option to extend the five-year term for two additional terms of five years each; and 2) an increase in the area to be leased from approximately 300 square feet as offered in the RFP to approximately 1,289 square feet. Staff supports allowing the additional square footage, which provides for a larger cafe area and seating, an office, portions of the news stand and ticket storage areas on the mezzanine, and an employee locker area located in the women’s waiting room, all necessary for the successful operation of the cafe. The specifics of the seating and the development plan for the café are subject to the City’s permitting process, which includes approval of a conditional use permit. Agreeing to the two five-year options to extend beyond 2013 is workable but eliminates any flexibility the City will have if it decides to continue its lease beyond 2013. The primary term of the Sublease is approximately 5 years, through the remainder of the VTA’s sublease with the City ending in 2013. The RFP offered only the original 5-year term and no options to extend beyond the period, in large part because of the uncertainty of the Depot leases after their CMR: 261:08 Page 4 of 5 expirations in 2013. CDD later informed staff that it requires the two extension periods to ensure business continuity. These extensions would, of course, be contingent upon either the City or VTA continuing to lease the Depot beyond 2013, and would be subject to rent increases based on the consumer price index. However, because the City has not yet made a determination on whether it will continue its lease of the Depot beyond February 26, 2013, the long term implications of agreeing to CDD’s request for two extension options are unclear. RESOURCE IMPACT The Sublease requires the CDD to improve, maintain and operate the property at no cost to the VTA or the City. CDD responsibility for janitorial service and rent payments will reduce costs for the VTA. CDD responsibility for the public restrooms will reduce City staff time spent responding to complaints about lack of public access to the restrooms. POLICY IMPLICATIONS The proposed Sublease is consistent with Policy and Procedures 1-11, Leased Use of City Land/Facilities. However, in the event that the City decides to continue leasing the Depot from Stanford in 2013, it will automatically be bound to the agreement with CDD and will not have the flexibility to change the term or use. ENVIRONMENTAL REVIEW The project is exempt from the requirements of the California Environmental Quality Act under Section 15301, Existing Facilities, subject to the proposed improvements being consistent with the Secretary of the Interior’s Standards of Rehabilitation for Historic buildings. ATTACHMENTS Attachment A: Sublease Agreement Attachment B: Consent Letter Attachment C: Evaluation Criteria Attachment D: Summary of Sublease Agreement cc: Stanford VTA Caffe Del Doge Venezia, Inc. CMR: 261:08 Page 5 of 5 PREPARED BY: _____________________________________________________ WILLIAM W. FELLMAN Manager, Real Property DEPARTMENTAL HEAD APPROVAL: __________________________________ LALO PEREZ Director, Administrative Services CITY MANAGER APPROVAL: _________________________________________ STEVE EMSLIE and KELLY MORARIU Deputy City managers CMR: 255:08 Page 1 of 3 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: UTILITIES DATE: JUNE 2, 2008 CMR: 255:08 SUBJECT: ADOPTION OF A WATER FUND BUDGET AMENDMENT ORDINANCE IN THE AMOUNT OF $30,000 AND APPROVAL OF AN AMENDMENT TO CONTRACT C07120333 WITH RMC WATER & ENVIRONMENT, INC. TO ADD $25,000 FOR COMPLETION OF A RECYCLED WATER FACILITY PLAN AND PREPARATION OF ENVIRONMENTAL DOCUMENTS FOR CAPITAL IMPROVEMENT PROGRAM PROJECT WS-07001, (RECYCLED WATER DISTRIBUTION SYSTEM EXTENSION) FOR A TOTAL NOT TO EXCEED AMOUNT OF $267,700 RECOMMENDATION Staff recommends that Council: 1. Adopt a Budget Amendment Ordinance (BAO) in the amount of $30,000, transferring $30,000 from the Water Fund Rate Stabilization Reserve to existing Capital Improvement Project (CIP) WS-07001, (Recycled Water Distribution System Extension); and 2. Approve and authorize the City Manager or designee to execute an amendment to the existing contract with RMC Water & Environment, Inc. (Attachment A) for a not-to- exceed amount of $25,000 for planning and engineering design services for the Recycled Water Expansion Capital Improvement Program Project (WS-07001), bringing the total not to exceed amount of the contract to $267,700. BACKGROUND On April 16, 2007, the City Council approved and authorized the City Manager to execute a contract with RMC Water & Environment, Inc. (RMC) for preparation of a Recycled Water Facility Plan and preparation of associated environmental documents for Capital Improvement Program Project WS-07001 (CMR:191:07). The original contract included $220,700 for professional services and reimbursable expenses, plus a contingency of $22,000, for a total not to exceed amount of $242,700. The original Scope of Work (SOW) focused primarily on preparation of a Recycled Water Facility Plan and associated environmental documents that would position the project to compete 4 CMR: 255:08 Page 2 of 3 for State and Federal grant funding and low interest loans. This generally included analyses of all of the essential components of a potential expanded recycled water system to serve additional users in the City of Palo Alto. DISCUSSION The project cost increase can be attributed to a variety of factors that were either beyond the original SOW or required much more detailed work within the existing SOW. The primary drivers for the request include: • The State Water Resources Control Board (SWRCB) administers various grant and loan programs for projects of this nature. In order to apply for these projects, certain milestones must be met. While the original SOW included a reasonable approximation of these milestones, the SWRCB recently notified the City that it requires an additional cultural resources study as part of the environmental document. The details of the additional study are included in Appendix B. This task is expected to cost an additional $19,500. • As part of the Facility Plan and Environmental document preparation, RMC researched and developed plant operations data and storage/pumping facility alternatives at the Regional Water Quality Control Plant (RWQCP) that were beyond what was envisioned in the original SOW. This was necessary to assess the ability of the RWQCP to meet current and future recycled water deliveries. Potential onsite and offsite storage options were also reviewed as another option to meet peak flow demands. This task is expected to cost an additional $17,500. • Considering the densely urban nature of the project route, RMC developed alternative alignments that are included in the environmental documentation. While not required for a Mitigated Negative Declaration, this approach gives some flexibility to choose the appropriate route and may also be helpful towards satisfying federal National Environmental Policy Act requirements that will be required if the project were to seek any federal grants. This task is expected to cost an additional $9,000. • RMC prepared an application to place the project on the State Revolving Fund (SRF) priority list that was not included in the original SOW. SRF loans have interest rates on the order of one half of the CA State General Obligation Bond Rate and can reduce project costs significantly. This task is expected to cost an additional $1,000. These additional tasks will require expenditure of the original $22,000 contract contingency as well as an additional $25,000, for a total of $47,000. RESOURCE IMPACT A BAO is required in the amount of $30,000 to add funds to the existing recycled water CIP (WS-07001). Of the $30,000 total, $25,000 will be allocated to the consultant contract with RMC and $5,000 is for staff costs. With the addition of the $30,000, the original budget for this project of $250,000 (comprised of contract and staff costs) increases to $280,000. To fund this amendment, $30,000 will be transferred from the Water Rate Stabilization Reserve. CMR: 255:08 Page 3 of 3 The FY 07-08 budget contains an expected grant credit from the SWRCB of $75,000. The grant will result in a net project cost of $205,000. There will be no impact to the General Fund. POLICY IMPLICATIONS Amending the contract is consistent with Council policy. This project is consistent with the Council-adopted Water Integrated Resource Plan Guideline 3: “Actively participate in development of cost effective regional recycled water plans.” The project is also consistent with Council direction to seek to reduce imported water supplies and limit or reduce diversions from the Tuolumne River. ENVIRONMENTAL REVIEW The City is currently preparing an Initial Study and Mitigated Negative Declaration for this project. NEXT STEPS After the facility plan and environmental documents are complete, staff will pursue potential grant funding opportunities and develop a recommendation on whether to proceed towards construction of the required facilities. The recommendation will then be submitted to the Council for consideration. ATTACHMENTS A: Amendment No. One to Contract No. C07120333 B: RMC Cost Estimate for Additional Cultural Work C: Budget Amendment Ordinance PREPARED BY: ________________________________ NICOLAS PROCOS Senior Resource Planner REVIEWED BY: ________________________________ JANE O. RATCHYE Assistant Director, Resource Management DEPARTMENT APPROVAL: ________________________________ VALERIE O. FONG Director of Utilities CITY MANAGER APPROVAL: ________________________________ STEVE EMSLIE/KELLY MORARIU Deputy City Managers ______________________________________________________________________________ CMR: 262:08 Page 1 of 3 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: PLANNING AND COMMUNITY ENVIRONMENT DATE: JUNE 2, 2008 CMR: 262:08 SUBJECT: ADOPTION OF AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PALO ALTO AMENDING TITLE 18 (ZONING) OF THE PALO ALTO MUNICIPAL CODE TO ADD A NEW CHAPTER 18.44 (GREEN BUILDING REGULATIONS) RECOMMENDATION Staff recommends that the City Council adopt the attached ordinance upon second reading, reflecting the revisions made by the Council on May 12, 2008. The revisions are redlined in the ordinance. Revised Tables A and B are attached to allow City Council to view the changes approved with the associated resolution also adopted on May 12, 2008. The changes enumerated below are in order of appearance in the ordinance and include: • the seven staff-recommended changes (five ordinance changes and three revisions to the tables) that appeared in the “at places” memorandum, as approved or modified by Council, • an additional ordinance amendment approved by Council, and • an additional amendment to Table B approved by Council. 1. Addition of the following sentence to the end of the paragraph under Section 18.44.020, Applicability as follows: “However, commercial covered projects with planning applications submitted after December 3, 2007 but for which building permits have not yet been issued as of the effective date of this ordinance shall be subject to compliance with this Chapter.” 2. Addition of the following clause (shown here in underlined text) to the “GreenPoint Rated Verification” definition, page 4 of the Ordinance (Section 18.44.030 Definitions, item (k)): “including green points allocation across all of the resource categories.” ______________________________________________________________________________ CMR: 262:08 Page 2 of 3 3. Addition of the following sentence after the first sentence in the “Threshold Verification by LEED AP” definition, page 6 of the ordinance (Section 18.44.030 Definitions item (w)): “The LEED AP shall provide supporting information from qualified professionals (e.g. civil engineer, electrical engineer, Title 24 consultant, commissioning agent, etc.) to certify compliance with each point on the checklist.” 4. Addition to the list of residential projects subject to checklist point reduction (Section 18.44.050, Incentives for Compliance, item (b)(3)) “and Category 3 and 4 structures on the local inventory and those structures eligible for the National Register of Historic Places.” 5. Addition to the wording of “Interim Compliance Effort” (Section 18.44.060 item (b)(8)) to include the resource categories shown in underlined text as follows: “at least 75% of the required minimum total green points and the GPR allocation of minimum points across all resource categories”… 6. Addition of a footnote (#6) on Table B, and reference in all boxes where footnote #4 is referenced: “Points shall include GPR minimum points across all resource categories.” 7. Addition to the governing bodies listed in SECTION 3 of the Ordinance (page 12) “Historic Resources Board” as among the boards to receive a presentation within a year of the effective date of the ordinance. 8. Addition to SECTION 3 of the Ordinance (page 12), second sentence to revise to read: “The report shall include, but is not limited to, documentation of the number and types of projects subject to the ordinance, explanation of whether and how compliance was achieved, identification of any problems arising from implementation, the costs of enforcement, and any recommendations for revisions to the ordinance or accompanying resolution and Standards for Compliance tables.” 9. Addition to Table A, footnote #5 and to Table B, footnote #4, the words “and incentives” after “exemptions”. The attached tables show these modifications underlined. 10. Revision of Table B to delete the third row and to revise the fourth row under Single-Family and Two-Family Residential to read: “Additions <1,250 sf and/or renovations >$75,0005” to allow use of the existing home remodel Green Point Rated (GPR) checklist instead of the new construction GPR checklist. The table has been modified (there is no annotation on attached table for this change). PREPARED BY: _____________________________________________ AMY FRENCH, AICP Manager of Current Planning DEPARTMENT HEAD REVIEW: ________________________________________ CURTIS WILLIAMS Interim Director of Planning and Community Environment ______________________________________________________________________________ CMR: 262:08 Page 3 of 3 CITY MANAGER APPROVAL: ____________________________________________ STEVE EMSLIE/ KELLY MORARIU Deputy City Managers ATTACHMENTS A. Proposed Ordinance B. Adopted Resolution C. Revised Table A D. Revised Table B CMR:253:08 Page 1 of 2 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: CITY MANAGER DATE: JUNE 2, 2008 CMR: 253:08 SUBJECT: ADOPTION OF AN ORDINANCE AMENDING THE BUDGET FOR THE FISCAL YEAR 2007-2008 TO AMEND THE TABLE OF ORGANIZATION TO REINSTATE THE DEPUTY CITY MANAGER, SPECIAL PROJECTS CLASSIFICATION AND ADOPTION OF A RESOLUTION AMENDING THE COMPENSATION PLAN FOR MANAGEMENT AND PROFESSIONAL PERSONNEL AND COUNCIL APPOINTEES ADOPTED BY RESOLUTION NO. 8748 TO REINSTATE ONE CLASSIFICATION RECOMMENDATION Staff recommends that the City Council: 1. Adopt the attached ordinance amending the 2007-08 Adopted Budget to amend the Table of Organization to reinstate the Deputy City Manager, Special Projects classification; and 2. Adopt the attached resolution amending the compensation plan for management and professional personnel and Council appointees adopted by Resolution 8748 to reinstate one classification (Deputy City Manager, Special Projects). DISCUSSION Currently, a recruitment is underway for a new City Manager. In April 2008, the Assistant City Manager, Emily Harrison, resigned to pursue another job opportunity. Staff would like to give the incoming City Manager the opportunity to hire the replacement Assistant City Manager. Until that occurs, the City Manager has appointed Steve Emslie, currently the Director of Planning and Community Environment, and Kelly Morariu, Assistant to the City Manager, to assist him. The City Manager would like both to serve in an interim capacity as Deputy City Managers until the new City Manager decides the appropriate staffing for his or her office. CMR:253:08 Page 2 of 2 The Deputy City Manager position was approved by the City Council in the late 1990s, however, it does not currently exist as an approved position in the Table of Organization or the Management and Professional Compensation Plan. To facilitate these temporary assignments, staff is recommending the City Council adopt the attached ordinance and resolution returning the Deputy City Manager, Special Projects position to the Table of Organization and the Management and Professional Compensation Plan. The reinstated position is part of the Management and Professional personnel group, and the control point would be $13,336 per month. POLICY IMPLICATIONS These recommendations are consistent with City policies, which require active positions to be listed in the Table of Organization and the relevant compensation plan. RESOURCE IMPACT No resource impacts will result from the addition of this classification. No FTE will be added. Instead, these are temporary assignments and the costs will be offset by salary savings from the vacant Assistant City Manager and Assistant to the City Manager positions. ENVIRONMENTAL REVIEW This action is not considered a project under the California Environmental Quality Act. ATTACHMENTS A. Ordinance Amending the 2007-08 Adopted Budget B. Resolution Amending the Compensation Plan for Management and Professional Personnel and Council Appointees PREPARED BY: __________________________________________ JON ABENDSCHEIN Administrator DEPARTMENT HEAD REVIEW: __________________________________________ RUSS CARLSEN Director of Human Resources CITY MANAGER APPROVAL: __________________________________________ FRANK BENEST City Manager CMR: 252:08 Page 1 of 5 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: UTILITIES DATE: JUNE 2, 2008 CMR: 252:08 SUBJECT: ADOPTION OF A BUDGET AMENDMENT ORDINANCE INCREASING: (1) THE BUDGET FOR ELECTRIC SUPPLY COST BY $6,350,000, (2) REVENUE FOR ELECTRIC SURPLUS ENERGY BY $800,000, (3) BUDGET FOR GAS SUPPLY COSTS BY $1,500,000, (4) REVENUE FOR GAS SUPPLY SALES BY $900,000, (5) REVENUE FOR GAS DISTRIBUTION SALES BY $1,000,000, (6) BUDGET FOR WATER SUPPLY COSTS BY $700,000, AND (7) REVENUES FOR WATER SALES BY $2,000,000 RECOMMENDATION Staff recommends that Council adopt the attached Budget Amendment Ordinance (BAO) (Attachment 1) which addresses the need for: a) additional funding for Electric Supply Costs in the amount of $6,350,000; b) additional revenues for Electric Surplus Energy Revenues in the amount of $800,000; c) additional funding for the Gas Supply Costs in the amount of $1,500,000; d) additional revenues for Gas Retail Supply Sales Revenues in the amount of $900,000; e) additional revenues for Gas Retail Distribution Sales Revenues in the amount of $1,000,000; f) additional funding for the Utilities Water Supply Costs in the amount of $700,000; and, g) additional revenues for Water Retail Sales Revenues in the amount of $2,000,000. BACKGROUND Palo Alto’s Municipal Code Title 2 Administrative Code, Chapter 2.28 Fiscal Procedures, Section 2.28.050 categories of expenditure control lists “utility commodity and commodity transmission services purchased for resale” as items between which funds can’t be moved. Therefore, if additional funds are needed for such a category, they must be appropriated by Council rather than administratively moved from another category for which savings may be available. 9 CMR: 252:08 Page 2 of 5 On June 11, 2007, Council approved the Utilities Electric, Gas, and Water Fund Fiscal Year (FY) 2007-08 budgets [CMR:272:07]. Since then, supply costs have increased for each of those funds. During the winter and spring of 2007, drought conditions resulted in lower than projected hydroelectric generation for the year. As a consequence, the City bought replacement electric energy from the market to meet City loads. Council was informed of the increased electric supply costs due to the drought on January 22, 2008 [CMR: 122:08], when staff and the UAC recommended a drawdown of reserves to cover the increased costs in lieu of a FY 2007-08 mid- year rate increase. To cover these higher costs, Council approved a mid-year Electric Fund budget increase of $8 million for FY 2007-08 on February 19, 2008 [CMR:151:08]. Gas supply costs also increased during the winter and spring of 2007 due to colder than normal weather conditions resulting in higher than projected gas use in the City. Additionally, market prices for natural gas increased significantly above the prices estimated when the budget was prepared. Council approved a mid-year budget increase of $304,000 for the Water Fund for FY 2007-08 on February 19, 2008 [CMR:151:08] to cover higher wholesale water supply costs than were estimated when the budget was prepared. DISCUSSION Electric Fund Based on actual costs through the third quarter of FY 2007-08 and projections for the remainder of this fiscal year, the Electric Supply Commodity Purchases budget requires additional funding of $2.6 million. These costs increased due to wholesale electric market prices that were higher than budget estimates and hydroelectric generation that was lower than budget projections. These projections are based on actual bills received through February 2008, estimated bills for March 2008 and the forecast of costs for April, May and June 2008. There is also a high degree of uncertainty about the actual electric commodity costs for April, May and June 2008. If market prices are higher than are forecast and hydroelectric generation is lower than is forecast for these months, supply costs could be even higher. In such a “worst case" scenario for the remainder of this fiscal year, electric commodity costs could increase by an additional $3.75 million. Therefore, staff requests that the budget for the Electric Supply Commodity Purchases Budget be increased by an additional appropriation of $6.35 million in order to cover both the expected $2.6 million cost increase and an additional appropriation of $3.75 million to cover costs in case the high cost/low hydro scenario materializes. The FY 2007-08 budgeted Electric Surplus Energy Revenue is $2.502 million. However, this is expected to increase by $800,000. Therefore, staff requests that the budget for these revenues increase by $800,000. In the high market prices and lower hydroelectric generation scenario, these revenues may not increase from the budget estimate. CMR: 252:08 Page 3 of 5 The funds to cover the requested cost increases will come from the Electric Supply Rate Stabilization Reserve (E-SRSR). Any increased Electric Surplus Energy Revenue will go into the E-SRSR. Gas Fund Gas commodity costs are expected to be higher than was budgeted by about $1.1 million based on actual cost projections through the third quarter of FY 2007-08 and projections for the remainder of this fiscal year. The increase is due to higher than anticipated market prices as well as higher than anticipated natural gas demand in the City due to colder than normal weather. In January 2008, the expected gas market price for fourth quarter (April through June 2008) was about $0.80 per therm. Currently, the expected price for gas is $1.04 per therm, a 30% increase. Market prices were driven by late-season cold weather in the Midwest, low amounts of gas in storage nation-wide, low amounts of liquefied natural gas (LNG) coming to the country, and record high crude oil prices worldwide. If prices remain higher than expected for the remainder of the year, costs could increase by an additional $400,000. Therefore, staff requests additional appropriations of $1.5 million for the Gas Supply Commodity Purchases Budget, which includes the $1.1 million of expected cost increases plus $400,000 of potential cost increases. Since part of the reason for increased supply costs is that natural gas consumption increased due to cold weather, the retail sales revenue is expected to increase as well. Based on actual sales to date, total sales revenue is expected to increase by about $1.8 million above the budgeted amount with supply revenues increasing by about $800,000 and distribution revenues increasing by $1 million. If gas prices are higher than expected for the remainder of the fiscal year, retail supply sales revenue would increase by an additional $100,000 since the largest customers have a cost pass-through type retail rate for supply. Therefore, staff requests that the budget for Gas Supply Sales Revenue be increased by $900,000 and the budget for Gas Distribution Sales Revenue be increased by $1,000,000. The Gas Supply Rate Stabilization Reserve (G-SRSR) is the source for the requested additional appropriation. Additional revenues will go into both the G-SRSR (for additional supply revenues) and the Gas Distribution Rate Stabilization Reserve (G-DRSR) (for additional distribution revenues). Water Fund Water consumption for the fiscal year to date is above the adjusted FY 2007-08 budget estimates. This may be attributed to drier than normal precipitation levels during the winter and early spring months prompting water use to increase for irrigation. Increased water consumption requires additional water supply purchases that are expected to cost an additional $165,000 above the budget level. If consumption levels for May and June are higher than expected, then the costs could increase by an additional $535,000. Therefore, staff requests additional funding of $700,000 for the Water Supply Commodity Purchases Budget, which includes the $165,000 of expected cost increases plus $535,000 of potential cost increases. CMR: 252:08 Page 4 of 5 The increased water costs are due to increased water consumption, which also increases the retail sales revenue for the Water Fund. Based on actual sales to date, total retail sales revenue is expected to increase by about $500,000 above the budgeted amount. In addition, if consumption is high for May and June, water sales revenue could increase an additional $1.5 million. Therefore, staff requests that the budget for Water Sales Revenue be increased by $2.0 million, which includes the $500,000 of expected increased retail sales revenue plus $1.5 million of potential increased retail sales revenue. The requested increased appropriation will come from the Water Rate Stabilization Reserve (W- RSR). Increased revenue will go into the W-RSR. RESOURCE IMPACT Electric Fund The expected impact on the Electric Supply Rate Stabilization Reserve (E-SRSR) is a reduction of $1.8 million, or $2.6 million of expected commodity cost increases less $800,000 of expected surplus energy revenue. In a worst case scenario, the E-SRSR could be a reduced by $6.35 million, if commodity costs increase by $6.35 million and there is no additional surplus energy revenue. The E-SRSR is expected to be within the minimum and maximum reserve guideline levels as of the end of FY 2007-08. Gas Fund The expected impact on the Gas Supply Rate Stabilization Reserve (G-SRSR) is a reduction of $100,000, or $1.1 million of expected commodity cost increases less $1,000,000 of expected gas supply retail sales revenue. The expected impact on the Gas Distribution Rate Stabilization Reserve (G-DRSR) is an increase of $800,000. If gas prices are higher than expected for the balance of the fiscal year, the G-SRSR could be reduced by $400,000, if commodity costs increase by $1.5 million and retail supply sales revenues increase by $1.1 million. The G-DRSR is not impacted by a change in commodity costs so the impact on it would be the same as expected, or an increase of $800,000. As of the end of FY 2007-08, the G-SRSR is expected to be below the minimum guideline level, but above the risk assessment levels. The G-DRSR is expected to be within the minimum and maximum guideline levels. Water Fund The expected impact on the Water Rate Stabilization Reserve (W-RSR) is an increase of $335,000, or $165,000 of expected commodity cost increases less $500,000 of expected water retail sales revenue. If consumption is high for the balance of the fiscal year, the W-RSR could increase by $1.3 million due to commodity costs increasing by $700,000 and retail water sales revenue increasing by $2 million. CMR: 252:08 Page 5 of 5 The balance of the W-RSS at the end of FY 2007-08 will be within the minimum and maximum reserve guideline levels. POLICY IMPLICATIONS This request does not represent a change in policy. ENVIRONMENTAL REVIEW This is not a project under the California Environmental Quality Act. ATTACHMENT 1. Budget Amendment Ordinance PREPARED BY: Ipek Connolly, Senior Resource Planner Jane Ratchye, Assistant Director of Utilities, Resource Management DEPARTMENT HEAD: ____________________________________ VALERIE O. FONG Director of Utilities DEPARTMENT HEAD: ____________________________________ LALO PEREZ Director of Administrative Services Division CITY MANAGER APPROVAL: ____________________________________ STEVE EMSLIE/KELLY MORARIU Interim Deputy City Managers ____________________________________________________________________________________ CMR:260:08 Page 1 of 3 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: ADMINISTRATIVE SERVICES DATE: JUNE 2, 2008 CMR: 260:08 SUBJECT: TEFRA HEARING REGARDING CONDUIT FINANCING FOR THE FABIAN WAY SENIOR APARTMENTS PROJECT LOCATED AT 901 SAN ANTONIO ROAD, PALO ALTO, AND ADOPTION OF A RESOLUTION APPROVING THE ISSUANCE OF BONDS BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $14,000,000 FOR THE PURPOSE OF FINANCING THE CONSTRUCTION OF FABIAN WAY SENIOR APARTMENTS RECOMMENDATION 1) Conduct a public hearing under the requirements of the Tax Equity and Fiscal Responsibility Act of 1983 (TEFRA) and the Internal Revenue Code of 1986, as amended (Code); and 2) Adopt a resolution (Attachment A) approving the issuance of the bonds in an aggregate principal amount not to exceed $14,000,000 by the California Municipal Finance Authority (CMFA) for the benefit of Fabian Way Associates, L.P. (Borrower) in financing Fabian Way Senior Apartments. BACKGROUND Bridge Housing Corporation (Bridge) a non-profit affordable housing developer, is developing a 56 unit low income senior project in Palo Alto. To finance the project, Bridge requested that the CMFA serve as the issuer of tax exempt revenue bonds for the Fabian Way Senior Apartments project in an aggregate principal amount not to exceed $14,000,000. Proceeds from the issuance of the bonds will be used to finance the acquisition, construction and improvement of a 56 unit multifamily housing facility located at 901 San Antonio Road in the City of Palo Alto, California for the benefit of the Fabian Way Associates, L.P. (FWALP), a limited partnership created by Bridge. In order for all or a portion of the bonds to qualify as tax-exempt bonds, a qualifying public agency (such as Palo Alto) must conduct a public hearing (TEFRA Hearing), to provide the members of the community an opportunity to speak in favor of or against the use of tax-exempt bonds for the financing of the project. Prior to the hearing, reasonable notice must be provided to the members of the community. Following the close of the TEFRA hearing, an “applicable ____________________________________________________________________________________ CMR:260:08 Page 2 of 3 elected representative” of the governmental unit hosting the proposed project must provide its approval of the issuance of the bonds for the financing of the project. DISCUSSION Since the facilities to be financed with the proceeds of the CMFA’s debt are located within the jurisdiction of the City of Palo Alto, the City has been asked to conduct a TEFRA hearing and adopt a resolution (Attachment A) that approves both the issuance of bonds by the CMFA for the benefit of FWALP. As cited in the published notice of May 16, 2008, the public hearing is simply an opportunity for all interested persons to speak or to submit written comments concerning the proposal to issue the debt and the nature or location of the facility to be financed; however, there is no formal obligation on the part of the borrower or the Council to respond to any specific comments made during the hearing or submitted in writing. The financing includes, but is not limited to the acquisition, construction and improvement of a 56 unit multifamily affordable senior housing facility located at 901 San Antonio Road in the City of Palo Alto. The CMFA is a joint exercise of powers authority that the City became a member of on April 14, 2008. The Joint Exercise of Powers Agreement provides that the CMFA is a public entity, separate and apart from each member executing such agreement. The debts, liabilities and obligations of the CMFA do not constitute debts, liabilities or obligations of the members executing such agreement. The bonds to be issued by the CMFA for the project will be the sole responsibility of the borrower (FWALP), and the City of Palo Alto will have no financial or legal, obligation, liability or responsibility for the project or the repayment of the bonds for the financing of the project. All financing documents with respect to the issuance of the bonds will contain clear disclaimers that the bonds are not obligations of the City of Palo Alto or the State of California but are to be paid for solely from funds provided by the borrower. The City is not exposed to any financial liability by reason of its membership in the CMFA. In addition, participation by the City in the CMFA does not impact the City’s appropriations limits and will not constitute any type of indebtedness by the City. Outside of holding the TEFRA hearing and adopting the required resolution, no other participation or activity of the City or the City Council with respect to the issuance of the bonds will be required. Based on the benefits of the project to the Palo Alto community and the lack of any financial obligations on the part of the City, staff recommends that Council approve the attached resolution. RESOURCE IMPACT As stated, the City will incur no financial obligation from approval of the recommendations. Fabian Way Associates, L.P. is requesting authority to issue up to $14 million in bonds through ____________________________________________________________________________________ CMR:260:08 Page 3 of 3 the CMFA. The City will receive a fee for its services when the bonds are issued. The City would receive approximately $8,750 if the par amount of the bonds issued is $14 million as reimbursement for costs associated with conducting the TEFRA hearing. POLICY IMPLICATIONS Actions recommended in this report are consistent with Council’s prior actions in supporting non-profit financings under the TEFRA (e.g., approving tax-exempt financing through the California Municipal Finance Authority for the Gideon Hausner Jewish Day School projects, CMR: 184:08). ENVIRONMENTAL REVIEW Action on this item does not constitute a project under Section 21065 of the Public Resources Code. ATTACHMENTS Attachment A: Resolution of the Council of the City of Palo Alto Approving the Issuance of Bonds by the California Municipal Finance Authority in an Aggregate Principal amount not to exceed $14,000,000 for the Purpose of Financing the Construction of Fabian Way Senior Apartments. PREPARED BY: _______________________________________________________ JOSEPH SACCIO Deputy Director, Administrative Services DEPARTMENT HEAD APPROVAL: _______________________________________ LALO PEREZ Director, Administrative Services CITY MANAGER APPROVAL: ___________________________________________ STEVE EMSLIE and KELLY MORARIU Deputy City Managers