03-14-17 CC RPT 03
City Council/Agency Reports
03-14-17 CC RPT 03
3/15/2017 1:50:20 PM
3/2/2017 2:17:18 PM
General - Type
City Council Reports
03-14-2017 CC AGENDA
\City Council Agendas\2010-2019\2017
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CITY OF <br />V <br />RIERSIDE <br />City °] Arts &Innovation <br />City Council Memorandum <br />IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII <br />TO: HONORABLE MAYOR AND CITY COUNCIL DATE: MARCH 14, 2017 <br />FROM: RIVERSIDE PUBLIC UTILITIES WARDS: ALL <br />SUBJECT: RIVERSIDE PUBLIC UTILITIES ECONOMIC AND SOCIAL IMPACT ANALYSIS <br />REPORT AND PRESENTATION BY UNIVERSITY OF CALIFORNIA RIVERSIDE <br />FORECAST, LLC. <br />ISSUE: <br />Receive a presentation on the Riverside Public Utilities Economic and Social Impact Analysis <br />Report as prepared and presented by University of California Riverside Forecast, LLC. <br />RECOMMENDATIONS: <br />That the City Council receive and file the Riverside Public Utilities Economic and Social Impact <br />Analysis Report and presentation as prepared and presented by University of California Riverside <br />Forecast, LLC. <br />BOARD RECOMMENDATION: <br />On February 13, 2017, the Board of Public Utilities with all members present (1 seat vacant) <br />received the Riverside Public Utilities Economic and Social Impact Analysis Report from the <br />University of California Riverside Forecast, LLC., and unanimously voted to receive and file the <br />report. <br />BACKGROUND: <br />On April 11, 2016, Riverside Public Utilities (RPU) entered into a Professional Consultant Services <br />Agreement with University of California Riverside (UCR) Forecast LLC for an economic benefit <br />analysis. <br />Under the terms of the engagement, the Consultant agreed to quantify and provide analysis and <br />reporting on the following financial and non - financial aspects and benefits of public utility <br />ownership: <br />1. Agency rates comparison and assessment versus private or investor owned utilities <br />2. Consumer purchasing power that results from any real or projected rate differentials <br />3. Regional impacts and the needs of the City of Riverside <br />4. Impact on Economic Development <br />5. Local job impact and benefit <br />
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