Silicon Valley Clean Energy Authority
Board of Directors Meeting
Wednesday, March 12, 2025
7:00 pm
Cupertino Community Hall
10350 Torre Avenue
Cupertino, CA
Gilroy City Hall
Administration Conference Room 7351
Rosanna Street
Gilroy, CA
MEETING MINUTES
Call to Order:
Chair Tyson called the meeting to order at 7:01 p.m.
Roll Call
Present:
George Tyson (Chair), Los Altos Hills
Larry Klein (Vice Chair), Sunnyvale
Elliot Scozzola, Campbell
J.R. Fruen, Cupertino
Zach Hilton, Gilroy (participated remotely)
Sally Meadows, Los Altos
Rob Rennie, Los Gatos
Garry Barbadillo, Milpitas
Lisa Shannon, Monte Sereno
Tanya Carothers, Morgan Hill
Pat Showalter, Mountain View
Otto Lee, Santa Clara County
Tina Walia, Saratoga
Absent:
None.
Public Comment on Matters Not Listed on the Agenda
Bruce Karney, Mountain View resident, provided a statement regarding potential implementation of a voluntary carbon tax program by cities to offset carbon emissions.
Consent Calendar
There were no questions or comments from the Board; there were no requests from the public to speak on any matter on the Consent Calendar.
1a) Approve Minutes of the February 12, 2025, Board of Directors Meeting 1b) Receive January 2025 Treasurer Report
Docusign Envelope ID: 708A7572-C1CE-4DB6-912F-ECBA195F737D
1c) Authorize the Chief Executive Officer to Enter into Agreements Between SVCE and Customers Participating in the On-Bill Financing Pilot
1d) Authorize the Chief Executive Officer to Execute Agreements with the Cities of Milpitas and Mountain View to Administer City Rebates for Home Electrification 1e) Authorize the Chief Executive Officer to Execute and Amend Community Grants as Part of the 2024 Member Agency Grant Program and the Competitive Community Grant Program 1f) Adopt Resolution Amending SVCE’s Energy Risk Management Policy 1g) Authorize the Chief Executive Officer to Enter a Midterm Agreement to Purchase Small Hydroelectric Energy from East Bay Municipal Utilities District for a Five-Year Term and Amount Not to Exceed $30,000,000
1h) Adopt Resolution to Establish Rate Stabilization Fund Under Government Accounting Standard Board (GASB) Standard 62
1i) Adopt Resolution Establishing the Silicon Valley Clean Energy Community Fund 1j) Approve Assignment of Auditor Contract to Kosmatka Donnelly & Co. LLP 1k) Receive Executive Committee Report
1l) Receive Finance and Administration Committee Report 1m) Receive Audit Committee Report
1n) Receive 2025 Legislative Responses to Industry Transition Ad Hoc Committee Report 1o) Receive California Community Power Report
MOTION: Vice Chair Klein moved and Director Lee seconded the motion to approve the Consent Calendar, Items 1a through 1o.
The motion carried unanimously by verbal roll call vote.
Regular Calendar
2) CEO Report (Discussion)
Chief Executive Officer (CEO) Monica Padilla addressed the following in her report:
1) In recognition of Women’s History Month, CEO Padilla acknowledged Director Martinez Beltran as the recipient of Senator Dave Cortese’s, District 15, Woman of the Year award; 2) An announcement regarding the upgrade of Moody’s SVCE credit rating to an A3;
3) An announcement regarding the purchase of SVCE building headquarters in Sunnyvale; 4) An update on State and Federal government legislation from Bena Chang, Director of Government and Legislative Affairs, who provided information on the following:
Senate Bill (SB) 540 allowing the formation of a regional organization enabling California’s participation in energy markets with other Western states; Assembly Bill (AB) 306 prohibiting local governments from adopting new reach codes for the next six years unless the codes are related to emergency health and safety initiatives; and
The State re-opening of Home Electrification and Appliance Rebate (HEERA) program.
Docusign Envelope ID: 708A7572-C1CE-4DB6-912F-ECBA195F737D
5) Introduction of new staff member Phillip Wang, IT Support Specialist, who provided brief welcome comments.
Staff responded to questions and comments regarding SB 540, AB 306, and the status of halted federal funds previously allocated for clean energy initiatives.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
3) Receive Audit Results and Accept the Findings from Independent Auditor (Action) Kellin Gilbert, CPA, Kosmatka Donnelly & Co., LLP, announced the January 2025 merger with Pisenti & Brinker LLP and Kosmatka Donnelly & Co., LLP, and noted that the merged group will maintain all current contract terms with SVCE through September 2027.
Mr. Gilbert presented the following: audit results for Fiscal Year (FY) 2023-2024, noting SVCE received a “clean” audit opinion; review of roles and responsibilities of management and the auditor; and review of the audit procedures.
Amrit Singh, Chief Financial Officer (CFO) and Director of Administrative Services, provided information regarding the audit timeline and process, and noted the SVCE Audit Committee’s recommendation that the Board of Directors receive the audit results.
SVCE staff and Mr. Gilbert responded to Board member questions regarding the audit results and information relating to surplus funds and SVCE’s future programs funding.
Chair Tyson opened Public Comment.
No speakers
Chair Tyson closed Public Comment.
MOTION: Director Lee moved and Director Showalter seconded the motion to accept the Year-End Financial Statements and Independent Auditor’s Report from FY 2023-2024.
The motion carried unanimously by verbal roll call vote. 4) Adopt Resolution Approving the Mid-Year 2024-25 Adjusted Operating Budget (Action) CFO and Director of Administrative Services Singh provided a presentation regarding SVCE’s mid-year 2024-25 adjusted operating budget, which projected contributing $98.1 million to reserves. The presentation reviewed the following:
Budget approval timeline;
A proposed one-time additional bill credit;
Increases in operating expenses;
Five-year reserve projections; and
Staffing update
CFO and Director of Administrative Services Singh and CEO Padilla responded to Board member questions and comments regarding existing customer bill credits, one-time bill credit cost, reserve projections, bill credits to municipalities, SVCE marketing efforts, current clean energy targets, fiscal year clean targets, funding allocation to various programs and rebates, current reserve targets, carbon reduction based on investment return, past rate discounts, and rebate timing.
Chair Tyson opened Public Comment.
Docusign Envelope ID: 708A7572-C1CE-4DB6-912F-ECBA195F737D
Bruce Karney, Mountain View resident, provided a statement regarding budget allocations to curb carbon emissions and expressed his opposition to funding the one-time bill credit.
Chair Tyson closed Public Comment.
Prior to the motion, Chair Tyson noted the motion would imply that the Board is providing conceptual general advice to staff for the $35 million to return additional funds to customers.
MOTION: Director Lee moved and Director Scozzola seconded the motion to adopt Resolution 2025-08 approving the Mid-Year 2024-25 Adjusted Operating Budget.
The motion carried by verbal roll call vote with a no vote by Director Barbadillo.
5) Affordability Strategic Focus Area Update (Discussion) Justin Zagunis, Director of Customer Success, introduced Peyton Parks, Manager of Energy Services, and Michaela Pippin, Communications Manager, and provided information regarding SVCE’s focus on affordability that included: legislative and regulatory advocacy, rate-setting principles and outreach, and customer education and outreach efforts.
Staff responded to questions and comments regarding electricity distribution costs, Pacific Gas and Electric (PG&E) regional affordability programs and enrollment targets, and translative services as part of customer outreach.
Chair Tyson opened Public Comment.
No speakers.
Chair Tyson closed Public Comment.
Board Member Announcements and Direction on Future Agenda Items Director Walia thanked SVCE for sponsoring her attendance at the Joint Venture Silicon Valley State of the Valley event, noting it was an informative session.
Director Showalter announced two items: 1) the grand opening of an all-electric Aquatic Center in March at Rengstorff Park in Mountain View and 2) an announcement of the City of Mountain View’s campaign ‘The Year for the Heat Pump’ which would be rolled out at the Mountain View Earth Day celebration.
Vice Chair Klein announced that the Sunnyvale Earth Day event would be held on April 5, 2025 at Sunnyvale City Hall.
Director Scozzola announced the City of Campbell, along with SVCE, the Bay Area Regional Energy Network (BayREN), California Green Business Network and the Campbell Chamber of Commerce, would host a business incentives lunch and learn event on March 17, 2025 event at the Campbell Community Center.
Director Lee announced the Santa Clara County, State of the County 2025 event will be held March 14, 2025 in the Board Chambers at the County Building in San Jose.
Adjourn
Chair Tyson adjourned the meeting at 9:26 p.m.
ATTEST:
_____________________________
Andrea Pizano, Board Secretary
Docusign Envelope ID: 708A7572-C1CE-4DB6-912F-ECBA195F737D