Title
A Resolution Authorizing the Acquisition of Property to be Used for Energy: Distributed-Generation, Gas, and Electric Portfolio Improvements
Presenter:
Jessica Davis, Land Resource Manager, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities ("Utilities") requests City Council approval of a Resolution authorizing the acquisition of two parcels totaling approximately 160 acres of real property needed for the Energy: Distributed-Generation, Gas, and Electric Portfolio ("EDGE Portfolio") from Lockheed Martin Corporation, a Maryland corporation. The properties are located at 0 Drennan Road and 8655 Drennan Road, Colorado Springs, Colorado, also known as El Paso County Tax Schedule Numbers 55041-00-001 and 55041-01-001, in the records of the El Paso County Assessor (the "Properties").
Background:
The acquisition of the Properties would support several projects in the EDGE Portfolio including:
Construction of a new electric substation.
Construction/installation of new energy generation facilities to meet current and future customer needs.
? Construction of new renewable energy generation and storage facilities.
? Construction of a new campus to support future technology advances in the electric, gas, water, and wastewater industries.
The Properties are in an ideal location, due to their proximity to existing Utilities' infrastructure, the Airport, and Peterson Air Force Base. The Properties are adjacent to large electrical distribution lines and a large gas main which are needed to support the projects listed above.
The location of the Properties will also allow Utilities to provide redundancy in the electric system for the Colorado Springs Airport and Peterson as well as support future growth east of the City.
Previous Council Action:
N/A.
Financial Implications:
The funds necessary to complete the land acquisition are included in the 2020 Utilities...
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