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Council OKs resolution allowing potential reimbursement for LeoPardo energy project; timeline puts equipment online in late summer
Summary
The council approved Resolution 2025-02 authorizing potential reimbursement of prior payments if the town issues bonds for the Leopardo energy savings project. Staff reported equipment ordered with an estimated in-service date in September and a potential $450,000 Investment Tax Credit application in early 2026.
The Speedway Town Council on Jan. 27 approved Resolution 2025-02, a reimbursement resolution tied to the Leopardo energy savings contract that would allow the town to use future bond proceeds to reimburse expenses already paid on the project if the town moves forward with financing.
Philip Faust, town court treasurer, said the measure does not obligate the town to issue bonds but signals intent and preserves the option to reimburse earlier payments such as the initial 20% down payment. Faust said the town recently received another invoice and that a larger payment will likely come to the council at an upcoming meeting.
Town Manager Grant Kleinhans provided a project timeline: equipment has been ordered with roughly a 30-week lead time and should arrive by the end of July. Piping and electrical work is expected to begin in June to prepare for installation; Kleinhans said the system is targeted to be operational around Sept. 8. He said the town will apply for an Investment Tax Credit under the Inflation Reduction Act in Jan.–Feb. 2026 and indicated the town expects the credit to be approximately $450,000.
Kleinhans said the project captures methane from the wastewater process (a wetter, more humid gas than dry methane) and will heat the wastewater plant; the project may also allow the town to return energy to the grid or receive credits from Citizens Energy under certain terms. Faust said Leopardo Group has been authorized to negotiate with several vendors to leverage buying power for supplies such as fuel and chemicals, which could yield annual savings of $20,000–$30,000.
The council approved Resolution 2025-02 by a 5-0 vote.
