Finance Committee - 10/07/2020 Page 7
Mayor Donchess
Ok because when | finished speaking, | looked and it was on mute and | wasn’t sure if it had been on mute.
Alderwoman Lu
No, you came through.
Mayor Donchess
Ok. Alright any other questions or comments? Yes, Alderwoman Lu.
Alderwoman Lu
| did have a — shortly after the meeting last night | sent a couple of questions and | haven’t heard back and it
sounds wonderful. There’s just one thing, when | read — when | looked through the paperwork there were
references to the energy performance contract but | didn’t see it, for instance on Page 138, it refers to the
energy performing contract and it says it is Exhibit C1. So | only saw the equipment lease purchase
agreement. That was my question that | sent last night.
| mean there were a couple of other things but they are not, you know. But the question | also had is | noticed
that if at some point we decide its better to buy because we’ve already got the assets installed, etc., but there’s
kind of a pre-payment penalty. And does anyone on the call know when that pre-payment penalty goes away.
| noticed that for several years, | only went 5 years and | saw that it’s about a $200,000.00 fee if you prepay it.
Mayor Donchess
The attorneys were on last night, there’s been extensive interchange regarding this contract. These are
questions, | don’t know who you wrote your question to, but these are certainly questions we can get
answered. But we would need to bring in the Legal Office to do that, which, of course, I’m glad to do but they
are not here tonight.
Alderwoman Lu
No that’s fine. | did include them on that so | will just wait for that answer.
Mayor Donchess
Alright, | will follow up with them and make sure they get back to you.
Alderwoman Lu
I’m sure they will. No problem.
Mayor Donchess
Any other questions or comments? Alderwoman Kelly?
Alderwoman Kelly
Yes, thank you. | wasn’t feeling well last night so | didn’t hear the full context of the conversation but | have
been following this closely as a member of the Energy Environment Committee and | am happy to see this
come forward. | would commend both the Mayor and Doria Brown for making our commitment to carbon
footprint reduction a reality with projects like this. So thank you.
