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HomeMy WebLinkAbout2016-04-11 16-150 ORDERCOUNCIL ACTION Item No. 16-150 Date: April 11, 2016 Item/Subject: Order, Authorizing the Transfer of $140,000 in FY 2016 Savings to Fund a Bangor Efficiency Pilot Program Responsible Department: Finance Commentary: Over the past few months, the Finance Committee has been reviewing a potential program to provide incentives to homeowners to invest in energy efficient measures. To increase participation in homeowner energy efficiency, thus achieving three goals: 1) help Bangor residents lower their winter heating bills; 2) modernize Bangor's old housing stock thus making Bangor a more attractive place to live; 3) help decrease Bangor's carbon footprint in the face of global warming. On March 21'�, the Finance Committee reviewed the program to create an incentive to save homeowners money and modernize our housing stock, by piggyback onto existing programs offered through Efficiency Maine. This would lower administrative costs and allow for Bangor homeowners to receive even greater incentives for energy efficiency programs and provide access to unsecured loans. The attached order would authorize the Finance Director to transfer FY 2016 in the amount of $140,000 to a non lapsing account to fund the Bangor Efficiency Pilot Program. This was reviewed and recommended for approval by the Finance Committee on April 4, 2016. Manager's Comments: Associated Information: Budget Approval: Legal Approval: Introduced for Passage First Reading Referral Department Head d�- - City Manager Page _of_ Finance Director City Solicitor Assigned to Councilor Perry CITY OF BANGOR 16-150 APRIL 11, 2016 (TrTL.E.) Order, Authoring the Transfer of $140,000 in FY 2016 Savings to Fund a Bangor Efficiency Pilot Program By the City Council of the City of Bangor. ORDERED, THAT the Finance Director is hereby authorized to transfer $140,000 in General Fund savings realized during FY 2016 due to lower costs associated with the mild winter, which may include some savings from lower than anticipated fuel costs. IN CITY COUNCIL APRIL 11, 2016 MOTION MADE AND SECONDED FOR PASSAGE PASSED CITY CL RK