TAMRMS#: B06
title
Energy Corporation Feasibility Report
Notice given by: Councillor Watkins
body
PURPOSE OF REPORT
The purpose of this report is to present a motion for which Councillor Watkins gave notice on November 30, 2020.
PROPOSED MOTION
recommendation
That by June 30, 2021 Administration provide a feasibility report, including recommendations, for Council to consider next steps in establishing an energy corporation as a means to generate new revenue to offset declining traditional sources of revenue,
The feasibility report is to include, at minimum, an evaluation of:
· Net income projections
· The suite of potential energy generation and marketing opportunities, focusing on green energy with the objective of carbon neutral or carbon credit generating operations
· Financing methods available to raise capital independently of the City of St. Albert so as not to impact taxes, rates or debt
· Opportunities to work collaboratively with regional partners and the private sector
· Integration opportunities with regulated utilities in new developments and/or offsetting of costs associated with traditional offsite infrastructure development methods, and
· The required process, decision gates/offramps, timelines and cost to establish the energy corporation
That the feasibility report be prepared in conjunction with or as a component of the Operational and Fiscal Review being conducted by Ernst and Young, if project budget and schedule permit, and that if additional funds beyond the funds previously allocated for the Operational and Fiscal Review are needed to support the feasibility report as an adjunct to or a component of the Operational and Fiscal Review then additional funds be provided for this purpose to a maximum of $75,000 drawn from the Stabilization Reserve.
DISCUSSION
See attached Administrative Backgrounder prepared by Kate Polkovsky, Director of Utilities and Environment
body
Report Date: December 21, 2020
Author: David Leflar,...
Click here for full text