03-09-2020 BPU RPT 10 - Laserfiche WebLink

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W A T E R E N E R G Y L I F E RIVERSIDE PUBLIC UTILITIES • ' Board Memorandum P U B L I C U T I L I T I E S BOARD OF PUBLIC UTILITIES DATE: MARCH 9, 2020 ITEM NO: 10 SUBJECT: JOINDER AGREEMENT BETWEEN SOUTHERN CALIFORNIA EDISON, AS PROGRAM ADMINISTRATOR, AND CITY OF RIVERSIDE FOR PARTICIPATION IN AND IMPLEMENTATION OF REQUIRED CLEAN FUEL REWARD PROGRAM WITH AN INITIAL CONTRIBUTION FOR PROGRAM START-UP IN AN AMOUNT NOT TO EXCEED $168,485 AND A REQUIRED ANNUAL CONTRIBUTION EQUAL TO A SPECIFIED PERCENTAGE OF VALUE OF MONTETIZED BASE CREDITS AS REQUIRED BY STATE REGULATION AND ESTIMATED IN THE AMOUNT OF $200,000 FOR FISCAL YEAR 2019/20, TO BE PAID UNTIL TERMINATION AS SET FORTH IN AGREEMENT — INCREASE IN REVENUE IN ESTIMATED AMOUNT OF $1,080,000 AND SUPPLEMENTAL APPROPRIATION IN THE AMOUNT OF $370,000 ISSUES: Recommend that the City Council approve the Joinder Agreement between Southern California Edison, as the Program Administrator, and the City of Riverside for participation in and implementation of the required Clean Fuel Reward Program, until the program or the Agreement are terminated as set forth in the Agreement, with an initial contribution for Program start-up in an amount not to exceed $168,485 and a required annual contribution equal to a specified percentage of the value received from the sale of Low Carbon Fuel Standard credits for electric vehicle charging as required by state regulation and estimated in the amount of $200,000 for Fiscal Year 2019/20; authorize an increase in estimated revenue in the amount of $1,080,000 for the sale of Low Carbon Fuel Standard credits for Fiscal Year 2019/20, for a total estimated revenue of $1,200,000, and an increase in appropriate expenditures in the amount of $370,000. RECOMMENDATIONS: That the Board of Public Utilities recommend that the City Council: Approve the Joinder Agreement between Southern California Edison, as the Program Administrator, and the City of Riverside for participation in and implementation of the required Clean Fuel Reward Program, until the program or the Agreement are terminated as set forth in the Agreement, with an initial contribution for Program start-up in an amount not to exceed $168,485 and a required annual contribution equal to a specified percentage of the value received from the sale of Low Carbon Fuel Standard credits for electric vehicle charging as required by state regulation and estimated in the amount of $200,000 for Fiscal Year 2019/20; 2. Authorize the City Manager, or designee, to execute the Joinder Agreement to the Clean Fuel Reward Program Governance Agreement and take all necessary actions required, or advisable to implement, administer, fund, and carry out the City of Riversides responsibilities under the Joinder Agreement; including the ability to make non -substantive changes, as well as to execute future amendments to the Joinder Agreement or the Clean Fuel Reward Program Governance Agreement under substantially similar terms and conditions; and