Finance — 05/18/16 Page 3
Alderman Siegel
I’d like to note for the record that we’ve been joined by Alderman McCarthy.
Mayor Donchess
This came up at the last meeting. The committee asked that the specifics regarding the deadline for
completion be included. We're back before you with the complete contract.
Alderman Siegel
It’s nice to see the real contract, but | feel like we’re playing a bit of whack a mole. Last time we had just the
appendix with a list of items, but we didn’t have the contract. Now we have the contract but we don’t have the
adjoined document that details those particular items that we are buying. This has to go to the full Board
anyway. We can keep spinning wheels going back and forth in committee, but if we could at least get the two
documents together for full Board approval, I’d be happier.
Jeanne Walker
| have a couple of copies here that | can leave.
MOTION BY ALDERMAN SIEGEL TO ACCEPT AND PLACE ON FILE THE COMMUNICATION
REGARDING THE LED CONTRACT PROPOSAL WITH SIEMENS
MOTION CARRIED
Alderman Clemons
| think this was approved last term before | was on the Board. | just have two general questions. Does the
contract include the installation of the lighting? The second question is: Is this bond going to pay for itself
through the savings that we supposedly would have with the LEDs?
Ms. Walker
Yes, this contract with Siemens is for the supply of the lights as well as the installation.
Mr. Danielson
The bond can be structured such that the savings from the lights would equal the debt service. It can be done
a number of ways, but yes.
Mayor Donchess
The lighting budget item in the 2016 budget is about $834,000. By undertaking the LED project and converting
the lights we can save approximately 40 percent on the electricity. That’s a little over $300,000. As you can
see, bonding an amount of about $1.5 million over 10 — 20 years is clearly going to cost less than the
$300,000. In the budget you have before you, we are projecting a savings next year of $200,000 net. We're
projecting electric savings of $200,000.
Alderman Siegel
We didn’t approve this last term. We let it sit there because there was some questions about the LED light
temperature. We didn’t actually act on that. We did determine last time that the savings were enormous. It
was like a six-year payback or less.
