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Council approves financing assignment for City Hall solar canopy project
Summary
On the consent calendar the council approved an assignment of financing for the city's solar canopy project: Forefront Power will assign its financing and the associated power‑purchase agreement to GreenSkies, which staff said will honor the original power rate and absorb certain additional project costs.
The City Council approved, on the consent calendar, an assignment of financing for the city’s solar canopy project. Assistant City Manager Dave Christian explained that Forefront Power — the original developer and finance partner — requested to assign the project financing and the associated power‑purchase agreement to a company called GreenSkies.
“Basically, it's like if when you enter into a mortgage and all of a sudden your mortgage company signs your loan to a different company,” Christian said, describing the assignment as a financing transfer rather than a change to the city’s underlying agreement. Christian told the council that despite construction obstacles at three locations that increased project costs, GreenSkies “came in…offered more efficiencies of scale” and is able to honor the original power rate so the city will not incur the additional costs.
Council approved the consent calendar item; staff confirmed project completion remains on track.
No ordinance or resolution was required — the action authorized assignment of financing and continued the project under the terms described to council.
