Label
Review Public Renewable Energy Products
Komives
Title
Review of Public Renewable Energy Projects for Federal Funding Opportunities; and declaring an emergency.
Body
WHEREAS, until recently it was often difficult for municipal governments and other tax-exempt entities to access federal funding for local renewable energy projects because the nature of the federal tax-credit funding; and
WHEREAS, the passage of the 2022 Inflation Reduction Act (IRA) included a Direct Pay provision that now allows local governments to access federal funding for renewable energy projects and clean energy projects that will cover up to 30% of the cost of the project; and
WHEREAS, there are a wide variety of renewable energy projects that are eligible for federal funding through the federal Direct Pay program including the installation of heat pumps or geothermal systems in public buildings, the addition of solar panels to school buildings, affordable housing, and other municipal buildings, the weatherization of senior centers and affordable housing, an investigation into potential micro-hydro energy systems to utilize in Toledo's streams and rivers, research the environmental benefits of the implementation of traffic roundabouts, and exploration into the possibilities of using new and existing water treatment plants to aid and create bio waste-to-energy facilities or products.
WHEREAS, public renewable energy projects like those enumerated above can save local government and Toledo taxpayers money by reducing energy costs, enhancing air quality, reduce emissions, and improve environmental justice; and
WHEREAS, Federal funding through the IRA's Direct Pay provision is available until 2032 and there is no cap on the amount of federal funding a city can receive through the Direct Pay provision for renewable energy projects; and
WHEREAS, there are a number of federal resources available to help cities prepare renewable energy projects and apply for federal funding through the IRA Direct Pay provision.
Summary
NOW THEREFORE, Be it resolved that:
SECTION 1. That the Sustainability Manager be and hereby is requested to report back to the City Council in a timely manner.
SECTION 2. That this Resolution, being an emergency measure, shall take effect and be in force from and after its passage. The reason for the emergency lies in the fact that the Resolution is necessary for the immediate preservation of the public peace, health, safety and property and for the further reason that this Resolution must be immediately effective in order to access federal funding for renewable energy projects.
Vote on emergency clause: yeas 10, nays 0.
Adopted: June 5, 2024, as an emergency measure: yeas 10, nays 0.
Attest:
Julie A. Gibbons Carrie Hartman
Clerk of Council President of Council
Approved: June 10, 2024
Wade Kapszukiewicz
Mayor