HomeMy WebLinkAbout2006-12-18 Ordinance 4929ORDINANCE NO. 4929
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR FISCAL YEAR 2006-07 TO CONTINUE
TO PROVIDE INCENTIVES TO CITY OF PALO ALTO UTILITIES'
CUSTOMERS TO INSTALL PHOTOVOLTAIC SYSTEMS AND TO PROVIDE
AN APPROPRIATION OF $750,000 FROM THE ELECTRIC SUPPLY
RATE STABILIZATION RESERVE
The Council of the City of Palo Alto does ORDAIN as
follows:
SECTION 1. The City Council of the City of Palo Alto
finds and determines as follows:
A. Pursuant to the provisions of Section 12 of Article III of
the Charter of the City of Palo Alto, the Council on June 12, 2006
did adopt a budget for fiscal year 2006-07; and
B. The City of Palo Alto Utilities' (CPAU) "PV Partners"
(photovoltaic) program provides incentives to CPAU customers who
install a solar electric or photovoltaic (PV) system; and
C. The "PV Partners" program has experienced significant demand
for incentives in the past few years with more hom~owners installing
systems on existing housing stock and greater numbers of developers
using solar for their new construction projects; and
D. CPAU is unable to meet the higher-than-projected demand with
this year's Renewable Energy category budget of $225,000, and
sUfficient budget dollars are not available from other programs or
Public Benefit categories; and
E. For fiscal year 2006-07, CPAU has ready paid out $190,000
in customer incentives, resulting in a remaining available balance
of $35,000; and
F. Additional projected incentive expenditures include $300,000
for approved customer applications in process; $150,000 for a new
25-condominium housing project; $200,000 for a large commercial
application; and $135,000 for additional market potential for
single-family applieations; and
G. A transfer of funds in the amount of $750,000 from the
Electric Supply Rate Stabilization Reserve is needed to continue the
"PV Partners" program for fiscal year 2006-07; and
H. City Council authorization is needed to amend the 2006-07
budget as hereinafter set forth.
SECTION 2. The sum of Seven Hundred Fifty Thousand Dollars
($750,000) is hereby appropriated from the Electric Supply Rate
Stabilization Reserve to continue to provide incentives to CPAU
customers to install photovoltaic systems.
SECTION 3. The Electric Supply Rate Stabilization Reserve is
hereby decreased by Seven Hundred Fifty Thousand Dollars ($750,000)
with a remaining balance of Sixty-Three Million Seven Hundred
Ninety-Two Thousand Two Hundred Fifty Dollars ($63,792,250).
SECTION 4. As specified in Section 2.2S.0S0(a) of the Palo Alto
Municipal Code, a two-thirds vote of the City Council required to
adopt this ordinance.
SECTION 5. The Council of the City of Palo Alto hereby finds
that this is not a project ,under the California Environmental
Quality Act and, therefore, no environmental impact assessment is
necessary.
SECTION 6. As provided in Section 2.04.330 of the Palo Alto
Municipal Code, this ordinance shall become effective upon adoption.
INTRODUCED AND PASSED: December lS, 2006
AYES: BARTON, BEECHAM, CORDELL, DREKMEIER, KISHIMOTO,
KLEIN, KLEINBERG, MORTON, MOSSAR
NOES:
ABSTENTIONS:
ABSENT:
ATTEST: APPROVED:
APPROVED AS TO FORM:
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