Item - 2012.EX23.14
Tracking Status
- This item was considered by Executive Committee on October 9, 2012. The Executive Committee postponed consideration of this item. Consult the text of the decision for further information on the deferral.
EX23.14 - Repurposing of the Sustainable Energy Funds and New Funding Model for City Energy Projects
- Decision Type:
- ACTION
- Status:
- Deferred
- Wards:
- All
Committee Decision
The Executive Committee deferred consideration of the item until November 5, 2012 and requested the City Manager to report back at that time on:
1. required program changes necessary only after consultations with the various stakeholders including building owners and managers, Toronto Hydro Electric Systems Limited, Enbridge Gas Distribution, City Agencies, Boards, Commissions, Corporations and Divisions.
2. all other feasible options currently being considered for the funding of the Emerald Ash Borer Infestation, with the objective of continuing the Sustainable Energy Funds with increased financial returns to the City.
3. the previously requested report on the merits of the Sustainable Energy Funds.
Origin
Summary
As part of 2012 Capital Budget deliberations, Council requested that the Deputy City Manager and Chief Financial Officer report back through the appropriate Standing Committee in the first quarter of 2012 on the merits of Sustainable Energy loans to non-City agencies and the private sector.
Current market conditions are considered suitable for energy related projects with positive returns to be financed without support of SEF interest free loans. It is being recommended that future funding for the City's energy projects be provided from recoverable debt as approved in the annual Capital Budget process for the City's agencies and divisions, with repayment from resulting operating program energy savings or revenue generation. No further loans would be approved for entities external to the City. It is proposed that the Sustainable Energy Reserve Funds be made available to fund the City's Tree Canopy capital program, which is experiencing rising costs due to the Emerald Ash Borer infestation.
Background Information
https://www.toronto.ca/legdocs/mmis/2012/ex/bgrd/backgroundfile-50459.pdf
Communications
https://www.toronto.ca/legdocs/mmis/2012/ex/comm/communicationfile-32126.pdf
Motions
That the Item be deferred until November 5, 2012 and the City Manager be requested to report back at that time on:
1. required program changes necessary only after consultations with the various stakeholders including building owners and managers, Toronto Hydro Electric Systems Limited, Enbridge Gas Distribution, City Agencies, Boards, Commissions, Corporations and Divisions.
2. all other feasible options currently being considered for the funding of the Emerald Ash Borer Infestation, with the objective of continuing the Sustainable Energy Fund with increased financial returns to the City.
That Motion 1 by Councillor Thompson be amended by adding a new paragraph 3 to read:
"3. the previously requested report on the merits of the Sustainable Energy Funds"