Posting Language
Title
Approve a resolution authorizing the City Manager to apply for two low-interest loans for a total of up to $14,000,000 from the State of Texas, State Energy Conservation Office, LoanSTAR Revolving Loan Program for the Solar on City Facilities Project. Funding: contingent upon available funding in future operating budgets.
Body
Lead Department
Austin Financial Services
Fiscal Note
Funding is contingent upon available funding in future operating budgets.
Prior Council Action:
May 22, 2025 - Council approved Resolution No. 20250522-052, regarding solar installation on City property.
April 23, 2026 - Council approved a contract with GS Solar LLC d/b/a Big Sun Solar, for an initial term of and PowerFin Texas Solar Projects, LLC with an estimated revenue of $17,700,000.
For More Information:
Kim Olivares, Director, Austin Financial Services, 512-974-2924; Zach Baumer, Chief Sustainability Officer, 512-974-2836
Additional Backup Information:
This action authorizes the City Manager to apply for funding from the State of Texas, State Energy Conservation Office, LoanSTAR Revolving Loan Program for two low-interest loans for up to a 15-year term for the Solar on City Facilities Project. The Texas LoanSTAR Revolving Loan Program provides low-interest loans to assist Texas public institutions by financing their energy-related, cost-reduction retrofit projects. Loan recipients may be cities, counties, independent school districts, state agencies, public institutions of higher education and tax-supported public hospital districts.
Austin Financial Services plans to apply to the LoanSTAR Program for one loan from the General Funds for up to $6 million at 2.5% interest and one application for American Reinvestment Act and Recovery Funds for up to $8 million at 1.5% interest. The funding will be used for the installation of 28 solar photovoltaic systems on city facilities, totaling approximately 4.5 megawatts alternating current of installed solar...
Click here for full text