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4 ^ <br />DEC 1 0 2001 <br />DATE: December 10. 2001 <br />Cl IY ur Unuivo item NO.7 <br />Dcpartacal Apprm aI: <br />Nanc Gregor> A Gappa <br />Title Director of Public Services <br />Adminiitnitor Reviewed:Ageada Section: <br />Public Services's Directors Report <br />lien Descriptkia: Approve Excel Energy Street Lighting Agreement <br />The Orono Am bar Senior Housing project includes a City TIF financed project to install decorative <br />street lights along 1 lighway 12 to match the lights in Long Lake. The street lights in Long Lake were <br />installed by Excel Energy under a Group 5 lighting agreement in w hich Excel Energy owns, operates <br />and maintains the lights. This is the same type of agreement \>e ha\ c for the Nav arre parking lot <br />lights that were installed last year. <br />The costs for this project w ill be repaid with TIF funds beginning in year 21 of the TIF agreement. <br />A separate account has been established for this project to track expenses and revenues. There arc <br />no funds in this account, so completion of this project will require a loan from another source be <br />placed into this account. Our recommendation is that a loan be obtained from the General Fund for <br />completion of this project. <br />Council Action Requested <br />Approviil of the attached agreement with Excel Energy, in the amount of S27.528. to install <br />decorative street lights along Highway 12 in the vicinity of the Orono Ambar senior housing <br />dev*elopment. <br />Approval of a loan from the general fund, in the amount of S27.528. to the TIF fund project account <br />for the Orono Ambar project. Loan to repaid with proceeds from the project’s TIF funds. <br />! <br />I