03-13-18 CC RPT 19 - Laserfiche WebLink

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CITY OF RJVER.SIDE City 0J Arts &Innovation City Council Memorandum IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII TO: HONORABLE MAYOR AND CITY COUNCIL DATE: MARCH 13, 2018 FROM: PUBLIC UTILITIES DEPARTMENT WARDS: ALL SUBJECT: PARTICIPATION IN THE CALIFORNIA AIR RESOURCES BOARD'S ONGOING LOW CARBON FUEL STANDARD PROGRAM, INCLUDING THE SALE OF CREDITS TO GENERATE APPROXIMATELY $120,000 ANNUALLY TO SUPPORT THE DEVELOPMENT OF PROGRAMS SUPPORTING ELECTRIC VEHICLE ADOPTION ISSUES: Approve Riverside Public Utilities participation in the California Air Resources Board's Low Carbon Fuel Standard Program, including authorization of secondary market transactions to sell credits, compliance reporting and account management, and other Low Carbon Fuel Standard Program activities as may be required pursuant to regulation. RECOMMENDATIONS: That the City Council: 1. Approve Riverside Public Utilities to participate in the California Air Resources Board's Low Carbon Fuel Standard Program, including secondary market transactions for the sale of Low Carbon Fuel Standard credits; 2. Authorize the City Manager, or designee, to execute the appropriate paperwork to enable Riverside's participation in the Low Carbon Fuel Standard Program, including secondary market transactions for the sale of Low Carbon Fuel Standard credits and retention of third -party verification services when required; 3. Authorize the City Manager, or his designee, to designate Riverside's primary and secondary account representatives and delegate the authority to these Riverside representatives to designate additional employees to conduct transfers of Low Carbon Fuel Standard credits, sell Low Carbon Fuel Standard credits on behalf of Riverside, and effect associated compliance activities; and, 4. Establish a Regulatory Requirement — Low Carbon Fuel Standard legally restricted reserve account within the Electric Fund, as determined by the Finance Department to deposit and segregate monies received from this program.