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Meeting Date:
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9/30/2021 - 6:00 PM
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Category:
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Finance and Operations
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Type:
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Action
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Subject:
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10.13 Resolution to Consent to the Assignment and Splitting of a Power Purchase Agreement
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Strategic Plans:
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Priority 1.5 1.5 Develop a capital strategy aligned with the Long-Range Facilities Plan and strategic plan to modernize all facilities, and plan for enrollment projections, academic programs, and community needs.
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Enclosure
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File Attachment:
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Summary:
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WHEREAS, a resolution was passed on May 4, 2021 to award contract number 9287, a solar energy power purchase agreement (PPA), to vendor National Energy Partners (NEP), to provide solar generated electricity to the Newark Board of Education at 51 Board locations;
WHEREAS, in connection with the award of contract 9287, NEP created “Newark Solar Holdings, LLC”, a single purpose entity owned by NEP, in order to enter into the PPA;
WHEREAS, in connection with the award of contract 9287, the vendor also requested that the PPA be split into 51 separate PPAs, each representing one of the 51 individual Board locations where solar energy is to be generated;
WHEREAS, due to the volatility of the New Jersey Transition Renewable Energy Certificates program (TREC) market which substantially affects the value and viability of solar energy systems so that time was of the essence, the Board was timely required to consent to the prior creation of Newark Solar Holdings, LLC for the purposes of entering into the PPA, and splitting the PPA into 51 individual agreements as well as their execution;
WHEREAS, the recommendation to consent to the creation of Newark Solar Holdings, LLC as well as splitting the PPA into 51 individual PPAs was reviewed and approved by Rodney L. Williams, Director of Energy & Sustainability.
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Funding :
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Recommendation to the Board:
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NOW THEREFORE BE IT RESOLVED, that the Newark Board of Education hereby consents to, authorizes and ratifies the creation of Newark Solar Holdings, LLC for the purposes of entering into the PPA.
BE IT FURTHER RESOLVED, that the Newark Board of Education also hereby consents to, authorizes and ratifies the splitting of the PPA into 51 individual PPAs as well as their execution.
BE IT FURTHER RESOLVED, that the Newark Board of Education designates and authorizes the following person(s) to execute and deliver the PPA documents for each individual site: Authorized individual(s): Dawn Haynes, Board President; Valerie Wilson, School Business Administrator; Krystle Whitlock, Assistant School Business Administrator, Imani Moody, Assistant School Business Administrator.
EXPLANATION: To authorize the PPA to be executed by an entity owned by a vendor, and to split the PPA into 51 individual agreements.
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Approvals:
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Recommended By:
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Signed By:
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Rodney Williams - Director
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Signed By:
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Nicole Yarbough - Purchasing Manager
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Signed By:
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Valerie Wilson - School Business Administrator
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Signed By:
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Roger León - Superintendent
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Vote Results:
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| Original Motion | Member Daniel Gonzalez Moved, Member Hasani Council seconded to approve the Original motion 'NOW THEREFORE BE IT RESOLVED, that the Newark Board of Education hereby consents to, authorizes and ratifies the creation of Newark Solar Holdings, LLC for the purposes of entering into the PPA.
BE IT FURTHER RESOLVED, that the Newark Board of Education also hereby consents to, authorizes and ratifies the splitting of the PPA into 51 individual PPAs as well as their execution.
BE IT FURTHER RESOLVED, that the Newark Board of Education designates and authorizes the following person(s) to execute and deliver the PPA documents for each individual site: Authorized individual(s): Dawn Haynes, Board President; Valerie Wilson, School Business Administrator; Krystle Whitlock, Assistant School Business Administrator, Imani Moody, Assistant School Business Administrator.
EXPLANATION: To authorize the PPA to be executed by an entity owned by a vendor, and to split the PPA into 51 individual agreements.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 9 Nay: 0. | | The motion Carried 9 - 0 | | | | | Josephine Garcia | Yes | | Flohisha Johnson | Yes | | Dawn Haynes | Yes | | Asia J. Norton | Yes | | Shayvonne Anderson | Yes | | A'Dorian Murray-Thomas | Yes | | Hasani Council | Yes | | Vereliz Santana | Yes | | Daniel Gonzalez | Yes | |
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