City Council

8. Consideration of Undergrounding Program Financing Options\nRecommended Action: Staff recommends the City Council: 1) Receive a\npresentation from City staff and NHA Advisors, LLC (NHA) on debt offerings\nbased on NHA’s Memorandum dated January 9, 2025 (Attachment A); 2) Provide\ndirection on whether the City should proceed with financing for Utility\nUndergrounding Districts (UUDs) X1A and 1B or delay the projects and proceed\non a pay-as-you-go basis; 3) If financing is supported, provide direction on which\ndebt option, public versus private borrowing, to pursue for financing UUDs X1A\nand 1B; and 4) Approve and authorize the City Manager to execute Task Order 3\nwith NHA for $67,500 to serve as the City’s municipal advisor for purposes of the\nborrowing (Attachment B).\nReference: Clerk’s File No. 203-3, 1001-2