5238502 Resolution 20-691, "Pepco Cost-Sharing Fund for DC PLUG Establishment Emergency Declaration Resolution of 2014"

A RESOLUTION

 

20-691

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

November 18, 2014

 

 

To declare the existence of an emergency with respect to the need to create a Pepco Cost-Sharing Fund so that the District Department of Transportation can receive funds from Potomac Electric Power Company as reimbursement for cost-sharing obligations for costs associated with the District of Columbia Power Line Undergrounding, also known as DC PLUG, initiative, as authorized by Electric Company Infrastructure Improvement Financing Act of 2014.

 

            RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Pepco Cost-Sharing Fund for DC PLUG Establishment Emergency Declaration Resolution of 2014”.

 

Sec. 2.  In anticipation of Potomac Electric Power Company (“Pepco”) providing funds to the District Department of Transportation (“DDOT”) as reimbursement for cost-sharing obligations for the District of Columbia Power Line Undergrounding (“DC PLUG”) initiative, DDOT needs to have a mechanism in place to receive these funds and to spend these funds solely for any permitted purpose authorized by the Electric Company Infrastructure Improvement Financing Act of 2014.  It is anticipated that Pepco and DDOT will cover the cost of DC PLUG equitably.  DDOT will perform civil engineering, design and construction work, while Pepco will perform the electrical engineering, design and construction and some of the civil engineering and design work, as needed. However, because of the nature of the work involved, the costs associated with DDOT’s portion of DC PLUG will outweigh Pepco’s portion.  In order to achieve an equitable cost-sharing arrangement between Pepco and DDOT, Pepco will reimburse DDOT for certain costs.   Without the funds, which would be deposited in the Pepco Cost-Sharing Fund for DC PLUG created by this legislation, DC PLUG would be negatively impacted as the cost-sharing between Pepco and DDOT would not be balanced, and DDOT would not have the funds available to fully finance its portion of DC PLUG.

 

            Sec. 3.  The Council of the District of Columbia determines that the circumstances enumerated in section 2 constitute emergency circumstances making it necessary that the Pepco Cost-Sharing Fund for DC PLUG Establishment Emergency Act of 2014 be adopted after a single reading.

 

            Sec. 4.  This resolution shall take effect immediately.