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DISCUSSION <br /> For the last 25 years, the California Public Utilities Commission (CPUC) has required <br /> PG&E, and Pacific Bell (AT&T) to set aside an annual conversion allocation, which is <br /> apportioned to cities and counties in their service areas based upon the number of <br /> electrical meters for overhead electrical services within the City's boundaries. These <br /> funds are commonly referred to as Rule 20A work credits. Currently the City has <br /> accumulated $1M in credits and receives a yearly allocation credit of $145,000. With <br /> the current balance and anticipated revenue over the next four years, combined with <br /> taking advantage of a program where borrowing against future years of 20A credits, the <br /> City meets PG&E'S criteria for the project to be entered into PG&E'S queue for design <br /> and construction scheduling. Borrowing of the credits is formulaic, based upon the <br /> project cost and the City's fund balance from previous year's credit allocations. <br /> Potential Project Schedule <br /> Establishment of an Underground Utility District followed by construction of the <br /> underground utilities and construction of the street surface improvements could be <br /> accomplished according to the following schedule: <br /> • City Council holds Public Hearing and adopts April 3, 2012 <br /> Underground Utility District Resolution <br /> • PG&E enters the project into their queue Spring 2016 <br /> (Queue is approx. 4 years until construction) <br /> • Street Surface Improvements construction Spring 2017 <br /> • Construction complete Summer 2018 <br /> Submitted Fiscal Review: Approved by: <br /> XiAl <br /> rian Do an Emily Nelson Fialho <br /> Director of Director of Finance City Manager <br /> Community Development <br /> Attachments: <br /> 1. Resolution <br /> 2. Stanley Boulevard Underground Project Map <br /> Page 3 of 3 <br />