Meeting Summary
The Storer City Council held a special meeting to discuss and approve a performance-based efficiency contract with Johnson Controls, aimed at significant energy and water savings across city facilities. The council also appointed Brady Moore as the interim city manager following the retirement of Norman McNickel, with a 15% salary increase during his interim appointment.
Key Decisions & Votes
Performance-Based Efficiency Contract with Johnson Controls and Financing Agreement with Bank of America
00:30:00The City Council approved entering into a performance-based efficiency contract with Johnson Controls for energy and water efficiency upgrades, and a related tax-exempt lease purchase financing agreement with Bank of America for $13.52 million. This project is expected to generate $1.5 million in increased available budget dollars over 20 years through revenue generation and cost avoidance.
Appointment of Interim City Manager
00:33:00Brady Moore was appointed as the interim city manager, effective upon the retirement of Norman McNickel. His compensation will include a 15% increase over his regular salary during this interim period.
Financial Matters
Johnson Controls Performance-Based Efficiency Contract
Total project cost for HVAC, lighting, water efficiency, and building envelope improvements, financed through a tax-exempt lease purchase agreement with Bank of America at an interest rate of 3.735% over 20 years.
Projected Savings/Revenue
Estimated total savings and increased revenue over 20 years from the Johnson Controls project, including $2.7 million from water meters (revenue generation), $10.6 million from operations and maintenance cost avoidance, and $8.7 million from utility savings (electric, water, gas).
Interim City Manager Salary Increase
Brady Moore will receive a 15% salary increase during his appointment as interim city manager.
Coming Up
Deadlines
- Term sheet for Bank of America financing must be signed by April 25, 2023.
Watch For
- Project start date for efficiency upgrades (anticipated June 2023)
- Completion of efficiency upgrades (anticipated March 2025)
Announcements
- Acknowledgement of the Renewable Energy Task Force for their help with the Johnson Controls project.
Agenda Summary
2A: JCI presentation regarding a performance-based efficiency contract
Presentation and discussion of a performance-based energy contract with Johnson Controls and related tax-exempt lease purchase financing proposal from Bank of America, outlining scope of work, timeline, project cost, and benefits.
3: Reports from officers and boards - Request for an executive session
Request for an executive session to discuss the appointment and compensation of an interim city manager following the retirement of City Manager Norman McNickel.
Motion to appoint Brady Moore as interim city manager
Motion to appoint Brady Moore as interim city manager with a 15% salary increase during the interim appointment.