R-26-20 Approve Clean Fuel Reward Governance Agreement and Authorize the City Manager to Execute

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1 2 3 4 5 6 7 8 9 10 11. 12 13 14 15 16 17 1:8 1.9 20 21. 22 :23 24 25 26 27 28 6 Used Electric Vehicle Rebates • Low Income Used Electric Vehicle Rebates • EV charger rebates for Residential and Commercial customers. • Electric Forklifts Rebates • EV infrastructure • EV education and outreach, and; WHEREAS, CED recommends joining the CFR Program Governance Agreement to continue to be able to participate in LCFS that benefits the community of Colton, and; WHEREAS, CED.is considered a small utility and once it decides to opt into the CFR Governance Agreement, CED would start.its initial financial contribution of 0.03% of the total share of $50,00.0,00.0 by January 31, 2023. This share funds the initial start-up costs of the CFR. Program, including the amounts. necessary to pay all Administrative Expenses and all the Reward .Amount reimbursement payments to ZEV dealers and to fund the initial Reserve Amount during the startup phase of the CFR Program. CEDs total obligation would be $1.5,055. The required percentage: contribution of 2% of LCFS sales begins March 31, 2024 and every year after. Based on previous sales of $141,780, for example, the contribution would be $283.5. 60 :and - WHEREAS, if CED decides not to participate in. the CFR Governance Agreement by January 31, .2023 then CARE will take CED LCFS credits to fund this program without its participation. This would .greatly affect the expansion .of electric vehicles and. electric vehicle infrastructurer in the. City of Colton and. deplete. all rebate funds available for. residential and commercial customers, and; WHEREAS, In the Fiscal. Year budget, 2022 CED will: increase. revenues for the sales of LCFS credits in account 520-7826-000 by the sales of LCFS credits and increase appropriations in CEDs LCFS Rebate account number 520-8000-8042-2041-0930-000 by; at a minimum, $151,055 to meet the 0.0.3%. contribution. CED will go back to council for permission to accept funds from the LCFS sales at this time. CED cannot predict the actual .sale revenues of credits at this time since the market fluctuates NOW, THEREFORE., the City Council. of the.City of Colton, State of California do.herg resolved.as follows:. H H .-3-