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RANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 10/03/2017 <br />AGENDA REPORT AGENDA HEADING: Regular Business <br />AGENDA DESCRIPTION: <br />Consideration and possible action to execute the Purchase and Sale Agreement with <br />Southern California Edison (SCE) for the acquisition of SCE -owned street lights. <br />RECOMMENDED COUNCIL ACTION: <br />(1) Authorize the Mayor and City Clerk to execute the Purchase and Sale Agreement <br />with Southern California Edison (SCE) for the acquisition of the City's 1,799 LS -1 <br />streetlights for an amount not -to -exceed $667,216 (acquisition and transaction <br />costs) and $57,838 (severance Costs), for a total authorized amount of <br />$724,054. <br />FISCAL IMPACT: The acquisition and conversion will save an estimated $138,242 <br />per year. This savings could be used to fund the acquisition financing and maintenance <br />of the City's street light system. Staff is evaluating various financing options and will <br />bring a separate recommendation to the City Council while the sale and acquisition is <br />being considered by the California Public Utilities Commission (CPUC) should the City <br />Council decide to acquire the streetlights. <br />Amount Budgeted: N/A <br />Additional Appropriation: N/A <br />Account Number(s): N/A <br />ORIGINATED BY: Nicole Jules, Deputy Public Works Director <br />REVIEWED BY: Terry Rodrigue, Interim Public Works Director <br />APPROVED BY: Doug Willmore, City Manager,,"`�11 <br />ATTACHED SUPPORTING DOCUMENTS: <br />A. Draft SCE Purchase and Sale Agreement (page A-1) <br />B. Final SCE Purchase and Sale Agreement (page B-1) <br />BACKGROUND AND DISCUSSION: <br />In September 2014, the City and SCE began discussions about the possibility of the <br />City acquiring SCE -owned streetlights. In May 2015, the City initiated the process of <br />acquiring SCE -owned lights by completing an audit of the City's street light inventory. <br />The audit concluded that of the 2,304 street lights within the City, SCE owns and <br />maintains 2,254 lights and the City owns and maintains 50 lights. <br />1 <br />