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City Council <br />Meeting Minutes <br />September 29, 2020 <br />Page 4 of 5 <br />Mayor Stolzmann noted staff is asking for direction on the CIP projections. As proposed in <br />2022 the CIP is projected to have less than $1 million in fund balance. $1 million is the <br />typical minimum threshold for that fund, although no minimum fund balance is required. <br />Members will look at this again after all the CIPs finalized in a later iteration of the budget. <br />Mayor Stolzmann reviewed the option for working with Xcel to purchase Renewable <br />Energy Credits (RECs). The cost for 2021 is $625,000. She noted it is one way to reach <br />our sustainability goals and move something forward although it is not perfect. Our <br />residents are very supportive of moving forward on reduced carbon emissions. <br />Councilmember Lipton stated he is not supportive of the REC purchase and would rather <br />find ways to directly reduce emissions. He supports asking residents if they want to pay <br />for this with a tax. He does not support the City paying it for this one year when we don't <br />have a long term commitment. <br />Councilmember Dickinson stated he supports funding this but recognizes it would be <br />difficult to do it this year. <br />Mayor Pro Tern Maloney supports making this a ballot issue for 2021 to see if residents <br />support this. He stated his is reticent to do this this year without a long-term funding plan. <br />Councilmember Leh stated we need to find a way to reduce our carbon footprint and <br />there are a variety of ways to do this; this might be one tool in the toolkit or there might be <br />better ways to do this. At this point it is unclear. <br />Councilmember Fahey agreed everyone wants to reduce our carbon footprint but we can't <br />afford to do it all right now. She supports a 2021 ballot question. This agreement is not <br />ready to go right now. <br />Mayor Stolzmann supports the payment as a way to cost effectively reduce our emissions <br />and this is what our residents want. <br />Councilmember Lipton suggested the $600,000 could be used for other sustainability <br />projects if it is not used on this. <br />Members agreed to put this on the 2021 Work Plan discussion and staff will look into what <br />the $600,000 could be spent on in 2021. <br />Councilmember Brown returned to the meeting (8:25 pm) <br />Members reviewed some of the CIP projects individually reprioritizing some items. <br />Members added the Front Street Plaza CIP to the 2021 Work Plan. <br />Public Comments - None <br />