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HomeMy WebLinkAboutR16-055 Energy Smart Colorado Loan Fund Commissioner moved adoption of the following 1 esolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2016-056' RESOLUTION APPROVING A DRAW DOWN OF THE ENERGY SMART COLORADO REVOLVING LOAN FUND WHEREAS, Eagle County, Gunnison County and Pitkin County(hereinafter collectively the"Counties")were awarded an Energy Efficiency and Conservation Block Grant also known as a Better Buildings Grant funded by the United States Department of Energy ("DOE") through the American Recovery and Reinvestment Act of 2009 which is documented by a notice of award dated June 14, 2010 with an effective date of August 12, 2010 from DOE to Counties (collectively the"Grant"); and WHEREAS, Eagle County was designated as the lead agency in the Grant; and WHEREAS, the Grant was awarded to allow the Counties to improve energy efficiency in approximately 5200 homes in the Counties by utilizing energy audits, resource centers, innovative financing options and workforce training; and WHEREAS, with consent of the Counties and approval of DOE, Eagle County entered into an agreement with EnergySmart Partners LLC, a wholly owned subsidiary of Funding Partners for Housing Solutions, Inc., a non-profit organization certified by the United States Department of the Treasury as a community development financial institution("ESP"), for the implementation of a revolving loan fund ("Revolving Loan Fund") to facilitate energy efficiency residential construction projects within the Counties to make borrowers' homes more energy efficient; and WHEREAS, other goals of the Grant were to expand the energy smart program to other communities,jurisdictions and entities and to establish an entity that could manage and implement the expanded energy smart program; and WHEREAS, Pitkin County designated Community Office for Resource Efficiency ("CORE"), a nonprofit corporation located in Pitkin County, to assist with implementation of Grant efforts in Pitkin County; and WHEREAS, Gunnison County designated Office for Resource Efficiency("ORE"), a nonprofit corporation located in Gunnison County, to assist with implementation of Grant efforts in Gunnison County; and WHEREAS, Eagle County contracted with Eagle Valley Alliance for Sustainability, a nonprofit corporation, which is now known as Walking Mountains Science Center ("Walking Mountains"), to assist with implementation of Gran - ! ,i � ,.t 1{SCDu t • d TO til l'` "'/ '� "-& e Co, Fty Attorney's Office °r:_ _. _ Eagle Cou ,ty Commissioners' Office WHEREAS, CORE, ORE and Walking Mountains are collectively referred to as the "Nonprofits"; and WHEREAS, Energy Smart Colorado, Inc., a Colorado non-profit corporation("ESC") was established by the Nonprofits; and WHEREAS, ESC developed a business plan to expand and permit other jurisdictions and entities access to the Energy Smart Program; and WHEREAS, the Grant concluded on November 1, 2014,but certain on-going reporting requirements and continued restrictions established by DOE concerning the use of the Revolving Loan Fund remain; and WHEREAS, Eagle County and ESC entered into a Transition Agreement on September 1, 2015, ("Transition Agreement") which transferred ownership of certain assets of the energy smart program to ESC, and allowed ESC access to the Revolving Loan Fund in accordance with terms and conditions set forth in the Transition Agreement; and WHEREAS, in accordance with the Terms of the Transition Agreement, in order for ESC to draw down portions of the Revolving Loan Fund, ESC is required to first seek written approval from DOE and Eagle County; and WHEREAS, ESC first submitted a request to DOE dated November 20, 2015 for a drawdown of the RLF in the amount of$500,000 to fund certain past and future expenditures which expenditures are to be consistent with the terms of the Grant, Transition Agreement, and applicable federal and state regulations including ARRA. The request was subsequently clarified and amended and was resubmitted by ESC to DOE on or about January 22, 2016. That request is attached hereto as Exhibit A(the "Draw Down Request"); and WHEREAS, DOE approved ESC's Draw Down Request solely for the purpose of funding those items and amounts enumerated in the Draw Down Request and for no other purposes whatsoever; and WHEREAS, DOE approval of the Draw Down Request is attached hereto as Exhibit B; and WHEREAS, ESC presented a revised Draw Down Request to the Eagle County Board of County Commissioners ("Board") on April 19th, 2016 attached hereto as Exhibit C; and WHEREAS, the Draw Down Request seeks (a) $143,128.29 for reimbursement of expenses incurred in 2015; (b) $184,000 for 2016 expenses; and approximately(c) $150,000 for anticipated expenses in 2017; and WHEREAS, the Board supports the mission of the Grant and objectives identified by ESC and therefor desire to approve a portion of the Draw Down Request at this time, and upon a future presentation by ESC, will consider a further draw down of the Revolving Loan Fund. NOW, THEREFORE, BE IT RESOLVED by the Board of County, ' Commissioners of the County of Eagle, State of Colorado: THAT, a drawdown of the Revolving Loan Fund as set forth heteimiStreby approved upon the condition that (a) ESC shall be solely responsible for accounting, tracking and ensuring that the funds withdrawn from the Revolving Loan Fund are used for approved eligible activities in accordance with its Draw Down Request and accounted for as required by DOE, the Grant,the Transition Agreement, and state and federal law and regulations including ARRA; (b) ESC shall provide monthly reports to Eagle County documenting how the funds withdrawn from the Revolving Loan Fund have been spent; (c) ESC shall provide required reporting information to Eagle County for submission to DOE; (d)if all or a portion of the funds are not used by ESC for an eligible purpose, then ESC shall immediately return such funds to the federal government; and THAT, the Board hereby approves a partial draw down of the Revolving Loan Fund in the amount of one hundred forty-three thousand one hundred twenty-eight dollars and twenty-nine cents ($143,128.29)to be used solely for reimbursement of eligible expenses incurred from January 1, 2015 to December 31, 2015 within such amounts and for the purposes authorized by DOE as set forth on Exhibit B; and THAT, the Board further approves an additional partial draw down of the Revolving Loan Fund in the amount of one hundred eighty-four thousand dollars ($184,000)to be used solely for reimbursement of eligible expenses incurred and projected for the period from January 1, 2016 through December 31, 2016 in such amounts and for the purposes authorized by DOE as set forth on Exhibit B; and THAT,the Board shall consider and review, in its sole discretion, additional draw down requests for 2017 or beyond based upon future presentation(s) of program results at or near the end of 2016; and THAT, the Board hereby authorizes any commissioner to execute Draw Down Request Number 1 and submit the same to ESP in the form attached hereto as Exhibit D; and THAT, the Board hereby finds, determines and declares that this Resolution is necessary for the health, safety and welfare of the citizens of Eagle County. 3 MOVED,READ AND ADOPTED by the Board of County Commissioners of the ounIy of Eagle, State of Colorado, at its regular meeting held the / A day of `. a, , 2016. 061'148.'1 COUNTY OF EAGLE, STATE OF COLORADO B and Throu Its BOARD OF COUNTY COMMISSIONERS ATTEST: e'n ext/t"\--, . 2.?)-)Age-.1 By: 61 rat Clerk to the Boar of nne McQueeney County Commissioners hair ' P Ji an H Ryan om ssione L. Ad 1iiíit. l_if � .� , Kathy Ch# dler-Henry Commissioner Commissioner I1 6u seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner McQueeney C2 c Li/' Commissioner Ryan Cf Commissioner Chandler-Henry C"P Fi This resolution passed by )/ vote of the Board of County Commissioners of the County of Eagle, State of Colorado 4 . , EXHIBIT A: DOE DRAWDOWN REQUEST Energy rt MAKING ENERGY IMPROVEMENTS SIMPLE & AFFORDABLE To: Pam Mendelson Cc: Company: United States Dept. of From: Mona Newton Energy Company: Energy Smart Colorado Phone: C202\ 287-1857 Phone: (870) 925-9775 Date: Friday, January 22, 2016 Dear Pam, As President of the Energy Smart Colorado Board, I am providing the information you and your team members have requested. Please advise if you would like further information. As we have been discussing with you, Energy Smart Colorado, Inc. is requesting to re-purpose $500,000 from the RLF to continue, improve and expand the program for all partners. Program accomplishments to date include: 4.169 completed residential and commercial energy assessments, 2,338 completed retrofits with combined annual energy savings of 91,430,464 kBtu and GHG emissions reduction of 12,255 metric tons. The platform of services through Energy Smart Colorado now includes residential and commercial energy advising, assessments and walk-thrus, direct installs and comprehensive rebates (in most areas). Seven community partners now provide the services. The program territory is growing and is now is available to residents in 47 counties throughout Colorado. We're partnered with seven electric and gas utilities. To date our RLF has completed an average of 10 loans per year, or 40 loans since inception in 2012. Since the inception of the RLF, the finance landscape has changed -there are now comparable EE and RE financing options available to residents including loans from local banks and utility providers. Over half of the program's RLF balance is sitting idle. We feel that these funds can be better utilized to support the program and continue to offer financing options for program participants. As proposed, Energy Smart Colorado centralized services will include: community partner recruitment and tnoining, community partner coordination, which includes meeting with interested organizatione, organizing and holding weekly calls, organizing and holding an annu | meeting for all partners to discuss the strategic p|an, program goals and pnograaa, holding workforce and community partner trainings, updating, refining and maintaining the database and coordinating use with all community partners, conducting quality assurance of services provided by partners and local con1nactore, representation of all partners in discussions with Colorado Energy Office (CEO) and other state agencies and utilities, reporting on program impacts to policy makers, and minimal purchasing of equipment to support delivery of services such as IAQ monitors and iPads. Energy Smart Colorado will seek to sustain the program with contracts with additional utilities and maintaining those currently in place, contracts with CEO and other entities such as Energy Outreach Colorado. Funding from EOC is sought directly by the community partners and now enables all seven community partners to offer services to income-qualified families. . . EMergysMl.11 t MAKING ENERGY |MPROVFKaENTS SIMPLE & AFFORDABLE Annual fees of$1,000/per partner from seven partners will also contribute to sustainable funding for administrative expenses. Energy Smart Colorado will not use any funds re-purposed from this grant provided by the U.S. Department of Energy to seek funding from foundations, solicit gifts or any other related activity. Marketing activities include creating design elements for partners' community marketing initiatives that promote the services provided by Energy Smart Colorado, which includes assessments and rebates, matching funds for ad placements, updating and maintaining the Energy Smart website (www.enerqysmartcolorado.com), including tailored individual partner pages that define available services. We will use up to 10% of the funding for administrative costs that include bookkeeping services, filing the annual 990 for Energy Smart and purchasing liability insurance. Half of the loan fund will remain active and available as loan capital to the expanded group of partners. Funding partners will continue to hold the Revolving Loan Funds and Eagle County will continue to oversee and report all funds associated with the RLF. Eagle County will review and approve any requests as outlined in the Transition Agreement. The $500.000 drawn down from the revolving loan fund will be utilized as follows: $200,000 repayment of centralized costs incurred (see attached) $150,000 for program expenses p jected for 2016 $150,000 for program expenses projected for 2017 These costs and activities are outlined in the attached budget and Business Plan. Please advise us if you would like additional information. Thank you for your consideration of this request. Sincerely, y/} w`~/ ' Mona Newton, President, Energy Smart Colorado EXHIBIT B: DOE DRAWDOWN REQUEST APPROVAL Schell, Chad <Chad.Schell @ee.doe.gov> Feb 11 (5 days ago) to me, acJampa.lrner, mona, Pam, EECBG Mr. Gitchell: DOE has reviewed the request,originally submitted November 20, 2015 and subsequently clarified and amended,from Energy Smart Colorado and Eagle County to repurpose$500,000 from the RLF administered by Energy Smart Colorado for the subject Eagle County EECBG award.The funds were requested to be repurposed from the RLF to fund other eligible activities that further Energy Smart Colorado objectives. You are hereby approved to repurpose$500,000 as proposed. Please be aware that the subject approval only applies to the circumstances submitted to DOE on this matter. If you intend to make further changes to the scope or objectives of your project, you are required to contact DOE before proceeding. You must receive notification of approval from the DOE Contracting Officer prior to commencing work beyond that currently approved. Thank you for your continued diligence and work to advance your renewable energy and energy efficiency programs. Chad A. Schell Contracting Officer Office of Energy Efficiency and Renewable Energy U.S. Department of Energy Tel: (240) 562-1772 From: Mona Newton [mailto:mona@aspencore.orq] Sent: Friday,January 22, 2016 5:14 PM To: Mendelson, Pam Cc: John Gitchell; Adam Palmer Subject: Re: DOE Request Hello Pam, Thank you for your email and request to adjust our narrative. I modified the original request to include the responses to the questions and the eliminated any reference to fundraising activities. I've revised our request to affirm that re-purposed funds will not be used for any type of fundraising activities. I've also included, hopefully all. of the documents that we've transmitted in various correspondence. Please let me know if you'd like any additional information. All the best, Mona On Jan 21, 2016, at 12:18 PM, Mendelson, Pam<Pain.Mendelson(et,ee.doe.gov>wrote: Mona, The repurposing request contains an unallowable activity(seeking sustainable funding sources). Please see the excerpt from the OMB Circulars for cost principles for both Government(A-87)and Non-profit (A-122)entities include the following: 17. Fund raising and investment management costs. a. Costs of organized fund raising, including financial campaigns,solicitation of gifts and bequests, and similar expenses incurred to raise capital or obtain contributions are unallowable, regardless of the purpose for which the funds will be used. b. Costs of investment counsel and staff and similar expenses incurred to enhance income from investments are unallowable. However,such costs associated with investments covering pension,self insurance, or other funds which include Federal participation allowed by this Circular are allowable. c. Fund raising and investment activities shall be allocated an appropriate share of indirect costs under the conditions described in subsection C.3.b. of Attachment A. In order to obtain approval to repurpose ARRA funds, please adjust the narrative for your request. In that adjustment please affirmatively confirm that federal funds will not be used for fundraising. It may be best to incorporate the stand-alone answers to the questions into the narrative. I have attached the narrative in its current status if you would find it easier to modify. Pam Bloch Mendelson ARRA Financing Programs Team Lead United States Department of Energy pam.mendelson@ee.doe.gov Office 202-287-1857 BB 202-573-4080 From: Mona Newton [mailto:mona@asoencore.orgl Sent: Wednesday,January 20, 2016 1:35 PM To: Mendelson, Pam Cc: John Gitchell; Adam Palmer Subject: Re: DOE Reques Hello Pam, Please find attached the responses to the questions posed by you and the Finance Program Team. If you have any questions,please let me know. Best regards, Mona On Jan 7, 2016, at 1:29 PM, Mendelson, Pam<Pam.MendelsonAee.doe.gov>wrote: Sounds fine. Prefer if you can provide information by 1/20,thanks Pam Bloch Mendelson ARRA Financing Programs Team Lead United States Department of Energy pam.mendelson @ee.doe.gov Office 202-287-1857 BB 202-573-4080 From: Mona Newton [mailto:monaPaspencore.org] Sent:Thursday, January 07, 2016 2:55 PM To: Mendelson, Pam Cc: John Gitchell; Adam Palmer Subject: Re: DOE Reques Hello Pam, Actually providing you the information for the 1/21/16 meeting better for us. I'd like to get input from the other ESC board members before sending the information to you and your team When do you need the information in order to discuss on 1/21/16? Thank you, Mona On Jan 7, 2016, at 12:24 PM, Mendelson, Pam<Pam.Mendelson a)ee.doe.gov> wrote: Great, I will needthem by 1:30 MT today Pam Bloch Mendelson ARRA Financing Programs Team Lead United States Department of Energy pam.mendelsonPee.doe.gov Office 202-287-1857 BB 202-573-4080 From: Mona [mailto:monaPasnencore.orq] Sent: Thursday,January 07, 2016 10:33 AM To: Mendelson, Pam Cc: John Gitchell; Adam Palmer Subject: Re: DOE Reques Thank you Pam. I will send the responses today. Best, Mona Mona Newton 303.523.4113 On Jan 7, 2016, at 8:12 AM, Mendelson, Pam<Pam.Mendelsona,ee.doe.00v>wrote: If you can provide answers to my budget questions and the Finance Team's questions below, I can include review of Eagle County's repurposing request in this week's ARRA Financing Team meeting.The next meeting will be 1/21/16. Pam Bloch Mendelson ARRA Financing Programs Team Lead United States Department of Energy pam.mendelson @ee.doe.gov Office 202-287-1857 BB 202-573-4080 From: Mendelson, Pam Sent: Wednesday, December 23, 2015 5:36 PM To: 'John Gitchell' Cc: 'Adam Palmer'; 'Mona Newton' Subject: RE: DOE Reques The Finance Program Team reviewed and had additional questions, beyond my budget question: 1. Can you forward the Transition Agreement and any other documents?Some of all of the following may be answered in those. 2. What are the "centralized services"that would be supported? 3. What are the activities planned for seeking sustainable funding sources?DOE must ensure that unallowable costs/activities are not being proposed. 4. What type of marketing is planned?Depending on the nature, marketing costs may not be allowable. DOE cannot support general marketing of the organization,for example. 5. What part of the costs would be considered administrative? From: Mendelson, Pam Sent:Wednesday, December 23, 2015 5:31 PM To: 'John Gitchell' <john.gitchell @eaglecounty.us> Cc:Adam Palmer<adam.palmer@eaglecountv.us>; Mona Newton<mona @aspencore.org> Subject: RE: DOE Reques . . Just to be clear,you mean to say that the total funds out in loans is$302,885+you have$500,000 waiting in an account to be repurposed for a total program fund size of$802,885? From:John Gitchell [mailto:iohn.gitchell@eaglecounty.us] Sent:Thursday, December 17, 2015 2:09 PM To: Mendelson, Pam <Pam.Mendelsonee.doe.gov> Cc:Adam Palmer<adam.palmerPeaglecountv.us>;Mona Newton<mona@aspencore.org> Subject: Re: DOE Reques Hi Pam, $302,885 is current balance of loan portfolio, Best, John Sent from my iPhone On Dec 17.2015. nt11:43 AM, Mendelson, Pam<Pam.K8ende|oon6@eedoe.nov>wrote: Just one question—how much funding in the RLF is currently loaned out/waiting to be loaned? You mentioned you wanted to repurpose$500K which is approx 50%, but what is that number? Pam Bloch Mendelson ARRA Financing Programs Team Lead United States Department of Energy pam.mende|son@ee.dne.gov Office 202-287-1857 BB 202'573'4080 From: John Gitchell [mai|to:john.gitcheUgbeag|ecounty.us] Sent: Wednesday, December 16, 2015 4:28 PM To: Mendelson, Pam Cc: Dunn, Steve; Adam Palmer; Mona Newton Subject: Re: DOE Reques Hi Pam, following my email Dec 4, could you please advise on the request for repurpose of funds and next steps? Best, John JoboGitoh6| Environmental Health and SuamiuubUity Euzlc County Government,yO Box l7g/500 Broadway,Eo2lc CO 81631 tel:970-328-8766 email: Jobn.GitohoU(cang|nCoumv.V8 Ix30/3 Eagle County Government set u goal m,xd000 our internal use and cost?/natural gas. electricity. water and paper/5%by the end o/28lJ(baseline 2012), Reaching our goal will save$350,000 and reduce carbon emissions by 1,429 metric tons each year. On Fri, Dec 4, 2015 at 3:04 PM, John Gitchell<john.gitchell(c4eaglecounty.us>wrote: Hi Pam,please see request below for repurpose of funds, and please send confirm you received with copy to all. Thank you for your consideration, Best, John John Gitcbell Environmental Health and Sustainability Eagle County Government.PO Box 179/500 Broadway.Eagle.CO)81631 tel:970-328-8766 email: John.GitcheII iEagleCounty.US Forwarded message From: Mona Newton<mona @.energvsmartcolorado.com> Date: Fri, Dec 4, 2015 at 2:25 PM Subject: Re: DOE Reques To:John Gitchell <john.gitchetk eaglecounty.us> Hello John: Please forward the attached request for a drawdown of the RFL to DOE. If you have any questions,please do not hesitate to contact me. Best, Mona Dear Pam: As we have been discussing with you, Energy Smart Colorado is requesting to re-purpose $500,000 from the RLF to improve, and expand the program and develop sustainable funding for all partners. Program accomplishments to date include: 4,169 completed residential and commercial energy assessments, 2,338 completed retrofits with combined annual energy savings of 91,430,464 kBtu and GHG emissions reduction of 12,255 metric tons. The platform of services through Energy Smart Colorado now includes residential and commercial energy advising, assessments and walk-thrus, direct installs and comprehensive rebates (in most areas). The program territory is growing and is now is available to residents in 47 counties throughout Colorado. We're partnered with seven electric and gas utilities. To date our RLF has completed an average of 10 loans per year, or 40 loans since inception in 2012. Since the inception of the RLF, the finance landscape has changed-there are now comparable EE and RE financing options available to residents including loans from local banks and utility providers. Over half of the program's RLF balance is sitting idle. We feel that these funds can be better utilized to support the program and continue to offer financing options for program participants. As proposed, Energy Smart Colorado will utilize$500,000 to support the centralized services provided to existing and new partners, seek sustainable funding sources, and continually improve the program platform(marketing, data tracking and management, workforce development). Half of the loan fund will remain active and available as loan capital to the expanded group of partners. Funding partners will continue to hold the Revolving Loan Funds and Eagle County will continue to oversee and report all funds associated with the RLF. Eagle County will review and approve any requests as outlined in the Transition Agreement. The$500,000 drawn down from the revolving loan fund will be utilized as follows: $200,000 repayment of centralized costs incurred (see attached) $150,000 for program expenses projected for 2016 $150,000 for program expenses projected for 2017 These costs and activities are outlined in the attached budget and Business Plan. Please advise us if you would like additional information. Thank you for your consideration of this request. Mona Newton President, ESC Board On Dec 4, 2015, at 1:09 PM, John Gitchell<john.gitchell @eaglecounty.us>wrote: John Gitchel I Environmental Health and Sustainability Eagle County Government,PO Box 179/50O Broadway,Eagle,CO 81631 tel:970-328-8766 email: John.Gitchell@EagleCounty.US in 2013 Eagle county Gcwern,nent set a goal to reduce our internal use and cost of natural gas, electricity,fuel, water and paper 15%by the end of 21115(haseline 2012). Reaching our goal will save$350,000 and reduce carbon emissions by 1,429 metric tons each year, Forwarded message From: Dunn,Steve<Steve.Dunn(c ee.doe,00v> Date: Fri, Nov 20, 2015 at 2:33 PM Subject: RE: DOE Reques To:John Gitchell <john.gitchell(cr�eaglecounty.us>,Adam Palmer<adam.palmer(a�eaglecountv.us>, Mona Newton<monaaspencore.orq> Hi John, Doing well,thanks. I would add some clarification around who will be holding the funds that are transferred out of the RLF,and confirm that the County will continue to play a role in oversight of those funds and reporting to DOE on activities. Please include the amount of funds that will remain in the RLF and confirm that Funding Partners will continue to report on those funds and loan activity(via the County). Steve From:John Gitchell [mailto:john.gitchell @eaglecounty.us] Sent: Friday, November 20, 2015 2:29 PM To: Dunn,Steve<Steve.Dunn@ee.doe.gov>;Adam Palmer<adam.palmer@eaglecounty.us>; Mona Newton<mona @aspencore.org> Subject: Fwd: DOE Reques Hi Steve, hope you are doing well! The Energy Smart Colorado board has prepared the draw- down request below - could you please review and let us know your thoughts and suggestions before we send on to Pam? Thank you much for advising and please copy all on your reply. Best, John John Gitchell Environmental Health and Sustainability Eagle County Government,PO Box 179/500 Broadway,Eagle,CO 81631 tel:970-328-8766 email: John.Gitchellici;;EagleCounty.US In MIS Eagle Calmly Guvernnrlft set a goal to reduce our internal lesi and cast of miaow!gas, eslectr rcit;t%.fi+c�7. water and paper 15%by the end of 2015(base line 2012). Reaching our goal will save$350,000 and reduce carbon emissions by 1,429 metric tons each year. Forwarded message From: Mona Newton<mona@energvsmartcolorado.com> Date: Fri, Nov 20,2015 at 9:15 AM Subject: DOE Reques To: John Gitchell<John.Gitchell a(�eaglecounty.us>,Adam Palmer<adam.palmer(a7.eaglecountv.us> Dear As we have been discussing with you, Energy Smart Colorado is requesting to re-purpose $500,000 from the RLF to improve, expand the program and develop sustainable funding for all partners. Program accomplishments to date include 4,169 completed residential and commercial energy assessments, 2,338 completed retrofits with combined annual energy savings of 91,430,464 kBtu and GHG emissions reduction of 12,255 metric tons. The platform of services now includes residential and commercial energy advising, assessments and walk-thrus, direct installs and comprehensive rebates (in most areas). The program territory is growing and is now is available to residents in 47 counties throughout Colorado. To date our RLF has completed an average of 10 loans per year, or 40 loans since inception in 2012. The finance landscape has changed - there are now comparable EE financing options available to residents including loans from local banks and utility providers. Over half of the program's RLF balance is sitting idle. We feel that these funds can be better utilized to support the program. As proposed, Energy Smart Colorado will use $500,000 to seek sustainable funding sources, and to improve the program platform (marketing, data tracking and management, workforce development). Half of the loan fund will remain active and available as loan capital to the expanded group of partners. The $500,000 drawn down from the revolving loan fund will be utilized as follows: $200,000 repayment of centralized costs incurred (see attached) $150,000 for program expenses in 2016 $150,000 for program expenses in 2017 These costs and activities are outlined in the attached budget and business plan. Please advise and thanks for your consideration. Mona Newton Mona Newton Board Chair ;:(9701925-9775 ext.500 www.EneroySmartColorado.com >facebook Mona Newton Board Chair (970)925-9775 ext.500 wyvw.EnerqySmartColorado.com, facebook Mona Newton Executive Director Community Office for Resource Efficiency(CORE) 111 Airport Business Center•Suite M•Aspen,CO•81611 Work:(970)925-9775 ext.500 www.AspenCORE.orq•www.EnergySmartColorado.com Join our newsletter Mona Newton Executive Director Community Office for Resource Efficiency(CORE) 111 Airport Business Center•Suite M•Aspen,CO•81611 Work:(970)925-9775 ext.500 www.AspenCORE.orq•www.Enerch/SmartColorado.com Join our newsletter <Eagle County EE0003798 repurposing request 1.20.2016.docx> Mona Newton Executive Director Community Office for Resource Efficiency(CORE) 111 Airport Business Center•Suite M•Aspen,CO•81611 Work:(970)925-9775 ext.500 www.AspenCORE.orq•www.EnerqySmartColorado.com Join our newsletter Mona Newton Feb 11 (5 days ago) ` . to Chad. me, adaOl.pB|Dler, Pam, EECBG Thank you very much Chad. We greatly appreciate this approval. Best regards, Mona [Message clipped] View entire messaqe EXHIBIT C: EAGLE COUNTY DRAWDOWN REQUEST walking mountains fi �'�A'� Si fCR4e eenteY sS e CLEER ORE COLORADO MAKING ENERGY IMPROVEMENTS SIMPLE AND AFFORDABLE .*wrerasem;�awattara,.cawm.�\�:�m�m..ao . ::�.m.�.:�1'. .:•�m::: __.:-..a.ao�'�:;�';:�.ai..�:s:.w. ",�x.,`,mp�.�; April 5, 2016. Dear Board of County Commissioners: On behalf of the Board of Directors of Energy Smart Colorado, Inc., I am writing to request your approval to access a portion of the available funds held in the Revolving Loan Fund (RLF) that was established as part of the Better Buildings Grant awarded to Eagle County in 2010. The grant amount awarded to Eagle County was $4.9 million and with that the RLF was established with$985,000.The balance in the RLF as of February 25,2016 was $673,000. Energy Smart Colorado, Inc.was established as a 501c3 organization on October 2014. Since the expiration of the grant, ESC has been providing centralized services and support to the existing partners and expanding the program to include additional non-profit organizations and counties in western Colorado communities. In the 4th quarter of 2015, Energy Smart Colorado, Inc. submitted a request to the U.S. Department of Energy requesting to access $500,000 from the Revolving Loan Fund to support the continuation of central operations for Energy Smart Colorado. Half of the loan fund will remain active and available as loan capital to the expanded group of partners.Funding partners will continue to hold the Revolving Loan Funds and Eagle County will continue to oversee and report all funds associated with the RLF. Eagle County will review and approve any requests as outlined in the Transition Agreement. The U.S. Department of Energy approved our request to draw down a portion of the Loan Fund on February 11, 2016. In order to access those funds,as per the Transition Agreement,Article 2,Access To Ongoing Operation of the Revolving Loan Fund,ii., ESC shall submit a request to the Eagle County Board of County Commissioners requesting approval to proceed and request a drawdown from Funding Partners. The $500,000 drawn down from the Revolving Loan Fund will be used to reimburse $143,128.29 for centralized costs incurred between 2014- 2015, $184000 for program expenses projected and seed funding for our partner in Gunnison in 2016 and$150,000 for program expenses projected for 2017. At this point we are requesting approval from you to draw down$327,128,29. We will request the final amount from the County Commissioners toward the end of 2016. During this timeframe we will be seeking program support from additional sources,which will help stabilize funding for the organization's activities. We are requesting your approval at this time and submit the following documents for your MdiGYSMAR t COLORADO CS,}i°< INFOIr'ENERGYSMARTCOLORADO.COM 855 372.5064 walking mnunta ms .► j meal center CLEER EnergySmarl T ac„i;a COLORADO MAKING ENERGY IMPROVEMEN IS SIMPLE AND AI FO ABLE ',uimYM.wa.mumattrexre &.�� rerea<asmnwnu °-' - .- -°• nui...uaua uradx is :irt':.inuuwUmu tiixuakHU*ttwra+.YV'm^Yx.:ttw.. ••.•e?K�K .... review to support the request: *The request Energy Smart Colorado submitted to DOE outlining the proposed uses of the funds *Approval email from the DOE contracting officer approving our request *2016 budget *2014 and 2015 Program expenses * Lending Statement from Funding Partners indicating the amount loaned out and available balance in the fund * Energy Smart Colorado Business Plan I and other Energy Smart Colorado, Inc.board members greatly appreciate your consideration of our request and an opportunity to discuss the program and future plans with you. We greatly appreciate your continued support of Energy Smart Colorado, Inc.We believe that this program continues to be successful in supporting energy efficiency in our communities. With deep respect, F ; "� €I Z� i_..... S ✓. t e .. Mona Newton President Board of Directors Energy Smart Colorado, Inc. EIs. H£; YSMA 1(,a1 L OM a INFO@ENERGYSMARTCOLORADO, O *855 372,5064 Energy Smart Colorado Item Budget 2014 Actual 2014 Revenues ESP Funds DOE Funds $22.840.17 RLF Interest(rolls back into RLF) $0.00; $0.00 Sub-total $0.00 $22,840.17 Partner Fees Yampa $0.00 $0.00 Eagle $1,000.00 $1.000.00 Pitkin $1,000.00 $1.000.00 Gunnison $1,000.00 $0.00 HC3 $1,000.00 $1.000.00 C4 $1,000.00 $1.000.00 CLEER $1,000.00 $0.00' 4 CORE $0.00 $0.00 Sub-total $6,000.00 $4,000.00 Utility Revenue HCE Commercial Contract $0.00 $0.00 Sub-total $0.00 $0.00 Grants/Awards NEHA Award $1,000.00 Radon grants $0.00 $0.00 Sub-total $0.00 $1,000.00 Municipality Revenue $0.00 $0.00 Fundraising Revenue $0.00 $0.00 Sub-total $0.00 $0.00 TOTAL INCOME ? $6,000.00 $27,840.17 Expenses PAYROLL Energy Smart Colorado,Program Manager(.50FTE) $78,000.00; $45,000.00 Support Staff(.25FTE) $26,000.00 $10 860.00 PIES Call Center/Coaching $0.00 $0.00 Sub-total $104,000.00 $55,860.00 OFFICE Software Fees $3,500.00 $1 429.00 Conference Line $1,000.00 $294.00 Filing Fees/IRS $0.00 $870.00 Travel $500.00 $1,122.60 Office Supplies/Rent $1,000.00 $0.00 Legal Expenses $1,000.00 $450.00 New Asset Purchases $1,000.00 $2,280.00 Asset Maintenance $5,700.00 $0.00 Insurance _ $0.00 $0.00 Sub-total $13,700.00 $6,445.60 OUTREACH Website $4,500.00 $150.00 Marketing $8,500.00 $4,573.00 Events $3,000.00 $2 150.00 Training $3,000.00 $3,577.02 Collateral/Printing $5,100.00 $6,268.14 Sub-total $24,100.00 $16,718.16 OTHER Third party verification $800.00 $0.00 Fundraising $0.00 $1,275.00 New ERC Support(Gunnison) $15,000.00 $0.00 Radon Training $0.00 $0.00 Misc. $2,000.00 $0.00 Sub-total $17,800.00 $1,275.00. TOTAL EXPENSE $159,600.00 $80,298.76 ...., NE ._.,_. : ... ....., j $1500130';,-$52,458.89''. Energy Smart Colorado Item Budget 2015 Actual 2015 Revenues ESP Funds DOE Funds RLF Interest(rolls back into RLF) $0.00 $0.00 Sub-total $0.00 $0.00 Partner Fees Yampa $0.00 $1,000.00 Eagle $1,000.00 $1,000.00 Pitkin $1,000.00 $1,000.00 Gunnison $1,000.00 $0.00 HC3 $1,000.00 f $1,000.00 C4 $1,000.00 $1,000.00 CLEER $1,000.00 $0.00' 4 CORE $0.00 $0.00 Sub-total $6,000.00 $5,000.00 Utility Revenue HCE Commercial Contract $0.00 $0.00 Sub-total $0.00 $0.00 Grants/Awards NEHA Award Radon grants $0.00 $0.00 Sub-total $0.00 $0.00 Municipality Revenue $0.00 $0.00 Fundraising Revenue $0.00 $0.00 Sub-total $0.00 $0.00 TOTAL INCOME $6,000.00 $5,000.00 Expenses PAYROLL Energy Smart Colorado,Program Manager(.50FTE) $78,000.00 $72,000.00 Support Staff(.25FTE) $26,000.00 $0.00 PIES Call Center/Coaching $0.00 $0.00 Sub-total $104,000.00; $72,000.00 OFFICE Software Fees $3,500.00 $3,702.29 Conference Line $588.00 Filing Fees/IRS $0.00 Travel $1,000.00 $652.39 Office Supplies/Rent $500.00 $0.00 Legal Expenses $1,000.00 $25.00 New Asset Purchases $1,000.00 $2,646.98 Asset Maintenance $1,000.00 $0.00 Insurance $5,700.00 $1,361.00 Sub-total $13,700.00 $8,975.66 OUTREACH Website $4,500.00 $576.00 Marketing $8,500.00 $1,391.22 Events $3,000.00 $6,444.87 Training $3,000.00 $4,000.00 Collateral/Printing $5,100.00 $836.15 Sub-total $24,100.00 $13,248.24 OTHER Third party verification $2,000.00 $0.00 Fundraising $0.00 $1,275.00 New ERC Support(Gunnison) $15,000.00 $0.00 Radon Training $0.00 $0.00 Misc. $800.00 $171.00, Sub-total $17,800.00 $1,446.00` TOTAL EXPENSE $159,600.00 $95,669.90 NET 90,669.90. NET SUM 2014-2015 -$143,128.49 Energy Smart Colorado Item Budget 2016 Actual 2016 Revenues ESP Funds RLF 2016 Allocation $1 ,,.7rs° 00 $0.00 RLF Interest(approx.) $5,000.00 $0.00 Sub-total $151,761.00 $0.00 Partner Fees Yampa $1,000.00 $0.00 Eagle $1,000.00 $0.00 Pitkin $1,000.00 $0.00 Gunnison $0.00 $0.00 HC3 $1,000.00 $0.00 C4 $1,000.00 $0.00 CLEER $0.00 $0.00 CUSP $0.00 $0.00 Boulder $1,000.00 $0.00 4 CORE $0.00 $0.00 Sub-total $6,000.00 $0.00 Utility Revenue HCE Commercial $0.00 $0.00 COSEIA Contract $2,000.00 $0.00 Sub-total $2,000.00 $0.00 Grants/Awards Radon grant for 4 partners $0.00 $0.00 Sub-total $0.00 $0.00 Municipality Revenue $0.00 $0.00 Fundraising Revenue CEO Contracts $24,500.00 $24,500.00 Sub-total $24,500.00 $24,580.00' TOTAL INCOME $184,261.00 $24,500.00 Expenses PAYROLL Energy Smart Colorado,Program Manager(.50FTE) $68,000.00 $6,000.00 Support Staff(.25FTE) $36,000.00 $0.00 COSEIA Contract $2,000.00 $0.00 Sub-total $106,000.00 $6,000.00 OFFICE Software Fees $3,500.00 $118.00 Conference Line $98.00 Travel $1,000.00 $0.00 Office Supplies $500.00 $0.00 Legal Expenses $1,000.00 $0.00 New Asset Purchases $1,000.00 $0.00 Asset Maintenance $1,000.00 $0.00 Insurance $1,361.00 $0.00 Sub-total $9,361.00 $216.00 OUTREACH Website $4,500.00 $0.00 Program Marketing $8,500.00 $0.00,, Conferences $5,000.00 $0.00 Collateral and Publications $3,000.00 $0.00 Workforce Training $5,100.00 $210.46 Sub-total $26,100.00 , $210.46 OTHER Misc. $2,000.00 $0.00 1 new ERC $5,000.00 $0.00 Cold Harbors $35,000.00 $0.00 Third Party Verification $800.00 $0.00 Sub-total $42,800.00 $0.00 TOTAL EXPENSE $184,261.00 $6,426.46 _' NET $0.00 $183p: Energy Smart Colorado Item Budget 2017 Actual 2017 Revenues ESP Funds RLF 2017 Allocation $11 .O 1.001 $0.00 RLF Interest(approx.) $5,000.00 $0.00 Sub-total $117,761.00 $0.00 Partner Fees Yampa $1,000.00 $0.00 Eagle $1,000.00 $0.00 Pitkin $1,000.00 $0.00 Gunnison $0.00 $0.00 HC3 $1,000.00 $0.00 C4 $1,000.00 $0.00 CLEER $0.00 $0.00 CUSP $0.00 ' $0.00 Boulder $1,000.00 $0.00 4 CORE $0.00 $0.00 Sub-total $6,000.00 $0.00 Utility Revenue HCE Commercial $0.00 $0.00 COSEIA Contract $2,000.00 $0.00 Sub-total $2,000.00 $0.00 Grants/Awards Radon grant for 4 partners $0.00 $0.00 Sub-total $0.00 $0.00 Municipality Revenue $0.00 $0.00 Fundraising Revenue CEO Contracts $25,000.00 $0.00 Sub-total $25,000.00 $0.00 TOTAL INCOME $150,761.00 $0.00, Expenses PAYROLL Energy Smart Colorado,Program Manager(.50FTE) $68,000.00 $0.00 Support Staff(.25FTE) $36,000.00 $0.00 COSEIA Contract $2,000.00 $0.00 Sub-total $106,000.00 $0.00 OFFICE Software Fees $5,000.00 1, $0.00 Conference Line $0.00 Travel $1,000.00 $0.00 Office Supplies $500.00 $0.00 Legal Expenses $1,000.00 $0.00 New Asset Purchases $1,000.00 $0.00 Asset Maintenance $1,000.00 $0.00 Insurance $1,361.00 $0.00 Sub-total $10,861.00 $0.00 OUTREACH Website $4,500.00 $0.00 Program Marketing $8,500.00 $0.00'' Conferences $5,000.00 $0.00 Collateral and Publications $3,000.00 $0.00 Workforce Training $5,100.00 $0.00 Sub-total $26,100.00 $0.00 OTHER Misc. $2,000.00 $0.00' New ERC $5,000.00 $0.00 Cold Harbors $0.00 $0.00 Third Party Verification $800.00 $0.00 Sub-total $7,800.00 $0.00 TOTAL EXPENSE $150,761.00 $0.00 .. NET $00Oy. %r0" EXHIBIT D NOTICE NUMBER 1 OF DRAW DOWN TO: EnergySmart Partners LLC Attn: Joe Rowan 330 S. College Avenue #400 Fort Collins, CO 80524 Notice is hereby given that the existing balance of Revolving Loan Fund("RLF")established by Agreement between the County of Eagle, State of Colorado and EnergySmart Partners LLC dated June 11, 2012 and amendments thereto(collectively the"RLF Agreement") is to be reduced as set forth herein. Please draw down the existing and available balance in the RLF in the amount of three hundred twenty seven thousand one hundred twenty-eight dollars and twenty-nine cents ($ 327,128.29)and wire the funds to: Energy Smart Colorado, Inc. Attn: Mona Newton, President 520 South Third Street, Suite 7 Carbondale, CO 81623 Wire Instructions are as follows: Energy Smart Colorado, Inc. Account#2040401974 Routing# 102102013 Address: Community Banks of Colorado,210 N. Mill St.,Aspen, CO 81611 Please provide proof of such wire to: Adam Palmer,AICP Eagle County Environmental Policy Planner Post Office Box 850 Eagle, CO 81631 Eagle County, Colorado By: Title: Dated: cc: Department of Energy, Attn: Pam Mendelson Energy Smart Colorado, Inc.,Attn: Mona Newton