Title
Amended and Restated Agreement between the City of Gainesville, d/b/a GRU, and the City of Alachua for the Purchase and Sale of Wholesale Electric Service (B)
**Estimated Presentation Time 10 minutes**
Explanation
Staff will provide background information on the Wholesale Electric Service Agreement with the City of Alachua.
Fiscal Note
The agreement is projected to provide net revenue of $30.7 million and gross margin of $9.2 million between April 1, 2016 and March 31, 2022, which will help mitigate upward rate pressure to retail customers.
Recommendation:
The City Commission (1) receive a presentation related to the Amended and Restated Agreement between the City of Gainesville, d/b/a Gainesville Regional Utilities (GRU), and the City of Alachua for the purchase and sale of wholesale electric service; (2) authorize the General Manager, or his designee, to execute the form Amended and Restated Agreement between the City of Gainesville, d/b/a GRU, and the City of Alachua for the purchase and sale of wholesale electric service, subject to the approval of the City Attorney as to form and legality; and (3) authorize the General Manager, or his designee, to execute such other documents as may be necessary or desirable to proceed with the transaction authorized above, subject to the approval of the City Attorney as to form and legality, and to take such other actions as may be necessary or advisable to proceed with such transaction in accordance with this City Commission authorization.