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suggesting that if the Commission is willing to allow the buildings to be finalled and occupied r-. that the installation timeframe requirement be reduced to three months and a letter of credit be provided by Panattoni for the full cost of the systems. She stated that staff is recommending that the intent of the "Green Power Park" be maintained and that a 75 Kwh system, which is substantially similar to the originally-approved 100 Kwh system, be required. She also advised that staff would prefer that the installation be completed prior to the final occupancy of the building, but if the Commission does not agree, the required installation be completed in a shorter time frame than six months, and that some type of cash instrument be implemented to guarantee installation. Discussion ensued regarding the requirement for a cash instrument versus the requirement for a bond. It was noted that the costs associated with the installation of each of the 75 Kwh systems would be approximately $375,000. There was also discussion about the costs to upgrade systems to larger capacity systems. In response to an inquiry from Commissioner Arkin, Ms. Kline clarified that five additional buildings are being proposed for the Pleasanton Power Park. THE PUBLIC HEARING WAS OPENED COMMENTS FROM THE APPLICANT r- John Buckel of Panattoni Development, 201 N. Civic Drive #250, Walnut Creek, CA 94596, represented the applicant. He stated that the applicant is disappointed that they have to come back to the Commission to ask for a modification to the original proposal. He advised that it is very difficult to obtain accurate and consistent information regarding pricing and rebates for photovoltaic systems. He noted that originally the proposal was offered to them as a feature to their buildings at, essentially, no cost to them. He further noted that Detroit Edison was to have purchased the panels and Panattoni would have only had to lease roof-top space to them and agree to have the building tenants or buyers commit to purchasing power from Detroit Edison at or below the open-market cost. In response to a question from Commissioner Kameny, Mr. Buckel advised that Panattoni has a long-term ground lease with the Best family, and they have the option to purchase the ground upon the sale of the buildings to other parties. Mr. Buckel advised that Mr. Best worked with Detroit Edison to secure grant funds for the original proposal. In response to an inquiry from Commissioner Arkin, Mr. Buckel advised the pay-back on the systems would be about 9-1/2 to II years based on P.G.&E.'s current rates, and the warranty on the systems is about 25 years. Mr. Buckel noted that they have already invested over $100,000 in the project to make the buildings ready for the systems. He noted that these are shell buildings, but they have taken into account additional energy measures such as low-E reflective glass, increased wall panel thickness, and tying the buildings together in order to provide for shared-power. - PLANNING COMMISSION MINUTES May 23, 2001 Page 13