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ELECTRIC VEHICLE CHARGING STATION – FUNDING STATEMENT WITH RESOLUTION – Line of Credit and Grant

↑Meetings/Documents/res::15-2018::2018-06-21::_06212018-62
Inline resolution2018-06-21#15-2018
Original file not available onlineView version history →Meeting on 2018-06-21 →

ELECTRIC VEHICLE CHARGING STATION – FUNDING STATEMENT WITH RESOLUTION – Line of Credit and Grant

Resolution #15-2018 — 2018-06-21

WHEREAS

  • the Village of Red Hook Board has received the NYS DEC grant to install an electric vehicle charging station, researched and reviewed options with it's engineer, and complied with purchasing standards.
  • the village selected PlugIn Stations on Line to supply and install a Charge Point CT 4021 and related costs/components for a cost of $9,566.00.
  • the Village will utilize its Highway Department staff for excavation and trenching, including purchase and installation of conduit with wiring, protective bollards and signage, at its cost, for the grant reimbursement or "in-kind" matching requirements;
  • the DEC grant is a reimbursement style grant and the Village will incur the costs and then submit for payment to DEC;
  • the Village also has a line of credit with Salisbury Bank at 1.88% interest;

RESOLVED

  • the village Treasurer is authorized to utilize the line of credit from Salisbury Bank to pay the direct costs. The Mayor and/or Treasurer are authorized to exercise the line of credit up to the amount of the installation and materials costs, up to $12,500. With line of credit option utilized, the Village will use grant receipt amounts to pay down the line of credit accordingly and reduce the amount borrowed from Salisbury Bank to a $0 balance for this activity.