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Council receives treasurer's upbeat financial report and approves a $7.36M energy‑savings contract
Summary
The city adopted a new investment policy after a treasurer's report showing stronger reserves and higher returns; council also approved a $7.36 million energy‑savings performance contract (15‑year financing) with guaranteed savings and federal solar incentives.
The Huntington Beach City Council unanimously adopted a revised 2026 investment policy and received a treasurer's report that showed improved reserves and higher investment returns. City Treasurer Jason Schmidt said reserves have risen by roughly $150 million over five years and that improved yields have added an estimated $10 million in annual income compared with pandemic-era returns.
The council then approved a performance‑based energy contract with Alliance Building Solutions (ABS) financed by MetroFutures. Staff presented a…
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