City Council

NOTICE OF SPECIAL MEETING OF THE CITY COUNCIL OF THE CITY OF GENEVA NOTICE IS HEREBY GIVEN that the City Council of the City of Geneva shall conduct a special meeting on February 29, 2016 immediately following the Special Committee of the Whole Meeting at 6pm. The meeting will be held at the Geneva Fire Dept. Headquarters, 200 East Side Drive Training Room, for the purpose of considering the following items: 1. Approve Resolution No. 2016-13 Authorizing the City Administrator to Enter Into an Amended Purchase Power and Sale Agreement with NextEra Energy Power Marketing LLC for the Period Beginning May 1, 2016 through December 31, 2024. 2. Closed Session on the Appointment, Employment, Compensation, Discipline, Performance, or Dismissal of an Employee of the Public Body. 3. Open Session to Consider Approval of a Voluntary Separation Agreement and Release of All Claims Subject to Minor Modifications by Legal Counsel. __________________________ Lynn Landberg, City Clerk This notice has been posted at City Hall City of Geneva, 22 South First Street, Geneva, Illinois and Geneva Fire Dept. Headquarters, 200 East Side Drive, on February 26, 2016 and has been tendered to members of the media requesting notices of public meetings.  AGENDA ITEM EXECUTIVE SUMMARY Consider Draft Resolution to Amend and Extend the Purchase Agenda Item: Power Agreement with (NEPA) Nextera Energy Power Marketing LLC. Presenter & Title: Rich Babica, Director of Public Works Date: February 29, 2016 Please Check Appropriate Box: Committee of the Whole Meeting Special Committee of the Whole Meeting City Council Meeting X Special City Council Meeting Public Hearing Other - Associated Strategic Plan Goal/Objective: This initiative relates to Vision 5 , Goal L of the City of Geneva Strategic Plan: “Maintain high-quality public services that serve and protect our residents and businesses” Budgeted? __X__ Other ____ Yes Estimated Cost: $31,366,430 Yes Funding? ____ No ____ No If “Other Funding,” please explain how the item will be funded: Executive Summary: As previously discussed with City Council, the current Power Purchase and Sale Agreement (“PPSA”) ends December 31, 2019. The current agreement covers the City of Geneva power requirements, not covered by the Northern Illinois Municipal Power Agency, Waste Management Recoverable Energy or the Geneva Generation Facility (“Fixed Resources”). The proposed Amended PPSA covers energy needs not covered by the Fixed Resources. The average price per MWh is about 7% or about $920,000 less than the current energy price through December 31, 2019. In addition it is about 1.5% below the pricing previously discussed with the City Council for the extended years 2020 through 2024. Attachments: (please list) • Resolution Recommendation / Suggested Action: (how item should be listed on agenda) To amend and extend the current PPSA with Nextera Energy Power Marketing, LLC, for the period beginning May 1, 2016 through December 31, 2024 in the amount of $31,366,430 and to accept the renegotiated prices for the period beginning May 1, 2016 through December 2019 which lowers the previously approved price to $12,344,602 for that period, representing a reduction of $921,426. Authorize the City Administrator to execute, on behalf of the City of Geneva, the Amendment to the PPSA with NEPM starting May 2016 through December 2024.  RESOLUTION NO. 2016-13 RESOLUTION AUTHORIZING EXECUTION OF Amended Purchase Power and Sale Agreement with Nextera Energy Power Marketing, LLC for the period beginning May 1, 2016 through December 31, 2024 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GENEVA, KANE COUNTY, ILLINOIS, as follows: SECTION 1: That the City Administrator is hereby authorized to execute, on behalf of the City of Geneva, Amended Power Purchase and Sale Agreement, with Nextera Energy Power Marketing, LLC relating to City of Geneva power requirements for the period beginning May 1, 2016, through December 31, 2024. SECTION 2: This Resolution shall become effective from and after its passage as in accordance with law. PASSED by the City Council of the City of Geneva, Kane County, Illinois, this 29th day of February, 2016. AYES: ____ NAYS: ___ ABSENT: ___ ABSTAINING: ___ HOLDING OFFICE: ____ Approved by me this 29th day of February, 2016. Mayor ATTEST: City Clerk