Title
RESOLUTION AUTHORIZING A TWENTY-FIVE YEAR LEASE AGREEMENT WITH ECOLIBRIUM3 FOR USE OF VACANT LAND IN LINCOLN PARK FOR A SOLAR ARRAY.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to execute a twenty-five year lease agreement, substantially the same as the agreement attached as Exhibit 1, with Ecolibrium3 for use of vacant land in Lincoln Park for a solar array in connection with its Innovation Zone Energy and Education Project.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes a twenty-five year lease agreement with Ecolibrium3 (“Eco3”) for use of vacant land in Lincoln Park for a solar array in connection with its Innovation Zone Energy and Education Project (the “Project”). There shall be no rent payment due from this lease; the consideration for the lease shall be the public benefit provided through the Project.
Eco3 applied for and received a grant from the US Conference of Mayors and Wells Fargo’s CommunityWINS! program for the Project, which includes installation of a 40kW solar array and related equipment (collectively, the “Solar Array”). The energy generated from the Solar Array will go into Minnesota Power’s electrical grid and Minnesota Power will net meter the energy. Eco3 intends to use the net proceeds generated from the Solar Array to offset electrical usage at the Duluth Veteran’s Place transitional housing project and to create an emergency energy fund to assist Duluth residents at-risk of utility shut-off. The Project will also use the site of the Solar Array to reduce neighborhood blight and integrate youth into community-based improvement projects, including artwork, education, and gardens. Under the terms of the grant, Eco3 must have no less than a twenty-five year lease on the land.