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C it).rN ion City Council Memorandum
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<br /> TO: HONORABLE MAYOR AND CITY COUNCIL DATE: September 11, 2012
<br /> FROM: PUBLIC UTILITIES DEPARTMENT ITEM NO: 9
<br /> WARDS: ALL
<br /> SUBJECT: PROPOSED TEMPORARY ECONOMIC DEVELOPMENT RATE SCHEDULE
<br /> AND EXTENSION OF THE BUSINESS RETENTION ELECTRIC RATE
<br /> SCHEDULE AGREEMENT DEADLINE
<br /> ISSUE:
<br /> That the City Council consider approval of the New Temporary Economic Development rate
<br /> ("Schedule TED") to encourage new businesses within Riverside Public Utilities' ("RPU")
<br /> electric service territory and extending the Business Retention rate ("Schedule BR") agreement
<br /> deadline.
<br /> RECOMMENDATIONS:
<br /> That the City Council:
<br /> 1. Approve the proposed Temporary Economic Development rate for qualifying new
<br /> commercial and industrial customers and extending the Business Retention rate
<br /> agreement deadline as outlined in this report; and
<br /> 2. Adopt the appropriate Resolution approving the New Temporary Economic
<br /> Development rate and the revised Business Retention rate; and
<br /> 3. Approve the proposed Temporary Economic Development Rate Agreement for
<br /> customers eligible for the New Temporary Economic Development rate; and
<br /> 4. Authorize the General Manager of Riverside Public Utilities to execute the TED Rate
<br /> Agreements with customers eligible for the New Temporary Economic Development
<br /> rate.
<br /> BOARD RECOMMENDATION:
<br /> After the requisite public hearing on August 17, 2012, the Board of Public Utilities unanimously
<br /> adopted a Resolution approving RPU's proposed Schedule TED and the extension of the
<br /> Schedule BR agreement deadline, and unanimously recommended the City Council approve
<br /> the proposed Temporary Economic Development Rate Agreement and authorize the General
<br /> Manager to execute the Rate Agreements with customers eligible for Schedule TED.
<br /> 9-1
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