AGENDA TITLE:
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Adopt a Resolution Declaring Intention to Reimburse Expenditures from the Proceeds of Obligations to be Issued by the City and Directing Certain Actions (FIN)
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MEETING DATE:
November 20, 2024
PREPARED BY:
Andrew Keys, Assistant City Manager
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RECOMMENDED ACTION:
Adopt a Resolution Declaring Intention to Reimburse Expenditures from the Proceeds of Obligations to be Issued by the City and Directing Certain Actions
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BACKGROUND INFORMATION:
The City will need to increase the capacity of the electric utility infrastructure to meet future growth demands. This resolution will provide the Lodi Electric Utility (LEU) the flexibility to reimburse capital expenditures from future debt issuance and facilitate necessary infrastructure improvements. The Lodi Electric Utility (LEU) currently operates a 60kV sub-transmission systems designed decades ago with the intent of serving forecasted electrical loads in the City based on then current historical growth and industry standards. Recent rapid growth in the community, state and federally mandated electrification requirements for vehicles and homes significantly impacted forecasted energy consumption and future infrastructure needs.
As a result, LEU forecasts additional load of 64 megawatts to be online by 2045 based on the need for vehicle electrification alone. This amounts to a 45 percent increase in the peak energy consumption for the City based on 2022 historical system peak data. Growth is anticipated primarily to the south, but also to the west and east of the current City limits. The current system is near limits and without more capacity to bring in power and to move power around more efficiently, LEU will be challenged to achieve City growth demands and electrification goals.
Two large projects are required to meet the forecasted load growth. First is the expansion of the existing 60kV system including two additional 60kV lines south of the existing I...
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