Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: RES 19-93    Name:
Type: Resolution Status: Passed
In control: President and Board of Trustees
On agenda: 3/18/2019 Final action: 3/18/2019
Title: A Resolution Approving a Commercial Motor Vehicle Master Lease Agreement and Amendment with Mike Albert, Ltd, for Five 2019 Nissan Leaf Electric Vehicles for Twelve Month Vehicle Lease with Mike Albert, Ltd, With the Option to Purchase, for a Twelve Month Period, with the Option to Purchase, in an Amount Not to Exceed $124,935.20 and Authorizing their Execution
Attachments: 1. Resolution-2019 Nissan Leaf Lease, 2. Lease Agreement, 3. Amendment, 4. Attachment-2019 CIP Administration Fleet Replacement, 5. Attachment-2019 CIP Public Works Fleet Replacement, 6. Attachment-2019 Nissan Leaf Lease Summary-1, 7. Attachment-2019 Nissan Leaf Lease Summary-2, 8. Attachment-Mike Albert Ltd 2019 Nissan Leaf Lease Proposal, 9. Attachment-Equipment Replacement Analysis, 10. Attachment-FED rebate nissan-leaf-incentive, 11. Attachment-2019 No lease Leaf National Auto Fleet Group _ Sourcewell Price _ Watsonville CA, USA
Submitted By
John P. Wielebnicki, Public Works Director

Reviewed By
LKS

Agenda Item Title
Title
A Resolution Approving a Commercial Motor Vehicle Master Lease Agreement and Amendment with Mike Albert, Ltd, for Five 2019 Nissan Leaf Electric Vehicles for Twelve Month Vehicle Lease with Mike Albert, Ltd, With the Option to Purchase, for a Twelve Month Period, with the Option to Purchase, in an Amount Not to Exceed $124,935.20 and Authorizing their Execution

End
Overview
Overview
The FY2019 Fleet Replacement Fund Budget includes the replacement of five sedan vehicles. Three of the vehicles are Administration pool cars used at Village Hall and two of the vehicles are Public Works Engineering Division vehicles. The existing vehicles are proposed to be replaced with 2019 Nissan Leaf Electric Vehicles using a twelve month lease with the option to purchase.

Body
Staff Recommendation
Approve the Resolution.

Fiscal Impact
Funding is provided through the Fleet Replacement Fund, accounts no. 3032-43900-101-570750 ($84,000.00) and 3032-43900-858-570750 ($56,000) for a total amount of $140,000.00 for five sedan vehicles. The budget amount for each vehicles is $28,000.00.

The five 2019 Nissan Leaf electric vehicles will be acquired through through a twelve month lease agreement, with the option to purchase, and will cost $124,935.20. The monthly payment for each vehicle for twelve months is $998.92 with the buyout of $13,000.00 after twelve months. Each vehicle will cost $24,987.04.

A twelve month lease is being used to monetize federal rebate funds that are unavailable to government agencies. The cost of an outright purchase, without the rebate, would be $28,642.06 through a joint purchasing program. The savings to the Village utilizing the lease option is approximately $18,275.00 total.

Funds for necessary equipment such as warning lights, 2 way radio, etc. will also come from this account but will be purchased separately from vendors who supply th...

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