08-09-2021 BPU RPT 08 - Laserfiche WebLink

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W A T E R E N E R G Y L I F E RIVERSIDE PUBLIC UTILITIES P U B LIC UTILITIES Board Memorandum BOARD OF PUBLIC UTILITIES DATE: AUGUST 9, 2021 SUBJECT: UPDATE ON TRANSPORTATION ELECTRIFICATION AND CREATION OF PROGRAMS FOR ELECTRIC VEHICLE RELATED REBATES USING LOW CARBON FUEL STANDARD REVENUE FOR A TOTAL OF $730,000 — SUPPLEMENTAL APPROPRIATION ISSUES: Receive an update on transportation electrification; consider approval of new programs for electric vehicle related rebates using Low Carbon Fuel Standard revenue in the amount of $730,000 for Fiscal Year 2021/22; and continue the authorization of the use of these rebate programs based on an annual report to the Board of Public Utilities on the rebate programs. RECOMMENDATIONS: That the Board of Public Utilities recommends that the City Council: 1. Approve the Residential Used Electric Vehicle Rebate, the Residential Home Charging Electric Vehicle Charging Rebate, and the Non-Residential/Multifamily Electric Vehicle Charger Rebate Programs, using proceeds from the sale of Low Carbon Fuel Standard credits in the amount of $730,000 for Fiscal Year 2021/22; 2. Authorize the City Manager, or designee, to execute all documents necessary to administer the rebate programs and take all other necessary actions required, or advisable to implement, administer, fund, and carry out the City of Riverside's responsibilities under the rebate programs; including the ability to make non - substantive changes to the rebate programs under substantially similar terms and conditions as set forth herein; 3. With at least five affirmative votes, authorize a supplemental appropriation, fully offset by proceeds from the sale of Low Carbon Fuel Standard credits, in the total amount of $730,000 and appropriate expenditures as follows: 1) $150,000 to the Residential Used EV Rebate Account; 2) $150,000 to the Residential Home Charging EV Charging Rebate Account; 3) $400,000 to the Non-Residential/Multifamily EV Charger Rebate Account; and 4) $30,000 to the Marketing/Education/Outreach Account from the Electric Fund Low Carbon Fuel Reserve Account; 4. Direct staff to provide an annual report on program results to the Board of Public Utilities; and