RESOLUTION NO. ___________, SERIES 2022
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A RESOLUTION ESTABLISHING A CAPITAL ENERGY INNOVATION FUND (“EIF”) TO SUPPORT LOUISVILLE METRO GOVERNMENT’S CLEAN ENERGY GOALS BY REINVESTING A PORTION OF ENERGY SAVINGS TO FUND FUTURE ENERGY MANAGEMENT PROJECTS THROUGHOUT LOUISVILLE METRO GOVERNMENT.
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SPONSORED BY: COUNCIL MEMBERS BILL HOLLANDER
AND NICOLE GEORGE
WHEREAS, Louisville Metro Council passed Resolution No. 009, Series 2020, in February 2020 which called for a 100% clean renewable electricity for Metro Government operations by 2030, 100% clean energy for Metro Government Operations by 2035, and 100% clean energy community-wide by 2040; and
WHEREAS, energy conservation and energy management results in reduced energy use and lower utility costs; and
WHEREAS, Louisville Metro Government has seen savings from energy management since hiring a full-time Energy Manager; and
WHEREAS, continued reductions in energy usage will require investments in energy efficiency upgrades and enhanced building controls in existing Metro facilities; and
WHEREAS, reducing energy use through conservation and energy efficiency supports the 100% Renewable Energy Resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (“LOUISVILLE METRO COUNCIL”) AS FOLLOWS:
SECTION I: Louisville Metro Council hereby authorizes the Office of Management and Budget to establish a capital Energy Innovation Fund (“EIF”) which will be used to finance future energy management projects such as enhanced building controls, energy efficiency upgrades, and other capital investments throughout Louisville Metro Government that reduce energy use or utility costs, or contribute toward Metro’s renewable energy goals, including solar and renewable procurement projects.
SECTION II: The EIF shall be funded in part or contribute toward Metro’s renewable energy goals, including solar and renewable procurement projects through a portion of the utility cost avoidance that is realized through energy management measures or energy improvements of facilities and equipment owned or operated by Louisville Metro Government. Cost avoidance will be evaluated relative to historical baseline utility data and prior to energy management activities beginning in January 2021.
SECTION III: Subject to Louisville Metro Council authorization of the fund, the EIF shall be made available starting in FY23, with initial funds coming from utility cost avoidance realized in calendar year 2021. Future budgetary cycles will continue contributing to the EIF, also subject to Louisville Metro Council authorization, using the operational utility cost avoidance produced through capital projects and ongoing energy management efforts in the preceding calendar year. The EIF may also be used to receive and utilize grants or other funding sources that are intended for energy projects.
SECTION IV: Pursuant to guiding principles for the EIF developed by the Office of Facilities and Fleet Management, oversight of the EIF will be handled by the Office of Facilities and Fleet Management, Office of Management and Budget, and Develop Louisville’s Division of Advanced Planning & Sustainability to ensure proper execution and compliance of this Fund.
SECTION V: This Resolution shall take effect upon its passage and approval or otherwise becoming law.
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________________________ Sonya Harward Metro Council Clerk |
_____________________________ David James President of the Council |
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________________________ Greg Fischer Mayor |
_____________________________ Approval Date |
APPROVED AS TO FORM AND LEGALITY:
Michael J. O’Connell
Jefferson County Attorney
By: ____________________________
R-045-22 - Energy Innovation Fund.docx - 2-28-22 - OMB-hh