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REQUEST FOR COUNCIL CONSIDERATION Meeting Date: June 26, 2018 Resolution‐Authorizing the City Manager to Sign Additional Solar Garden Subscription Agreements with United States Solar Corporation. OVERVIEW: On May 24, 2016, the City Council adopted RESOLUTION 16‐048 A RESOLUTION APPROVING SOLAR GARDEN SUBSCRIPTION AGREEMENTS WITH UNITED STATES SOLAR CORPORATION AND SOLARSTONE COMMUNITY LLC. (attached). Also attached is the May 24, 2016 memo from Amir Nadav, Solar Consultant. The Sunscription Agreement we entered into with US Solar was Step 1 in the process of receiving our Bill Credits. Now that project construction approaches for our Community Solar Gardens, the next steps are as follows: Step 2: Authorize City Manager to sign Bifurcated Subscription Agreements. As required by project lenders and as permitted under Section 7.1 of the Sunscription Agreement, US Solar will be bifurcating your Sunscription Agreement into five new separate agreements. Please note that no material contract terms will change. U.S. Solar have made three revisions: the first page of each of the new agreements acknowledges that our original Sunscription Agreement has been superseded, the Bill Credit Rate table in Section 1.3 has been updated to reflect the current (higher) credit rate, and Exhibit B will now include information about the allocated garden. As we agreed to do under Section 7.2, U. S. Solar ask that the City Manager sign each of the Sunscription Agreements. Step 3: Authorize City Manager to sign SAACF. The City Manager to sign the Subscriber Agency Agreement and Consent Forms (SAACF) for each of the Community Solar Gardens to which we have been assigned. This is an Xcel Energy document that permits Xcel to link our utility accounts to the projects, thus enabling the processing of our Bill Credits. The Consent Form was also anticipated in our original Sunscription Agreement and Section 2.2 requires the City Manager to sign. The City has approved agreements with United States Solar Corporation and SolarStone, however the SolarStone solar project site isn’t currently ready but is estimated to be operational in 2019. 33