FINANCIAL_SERVICESAMENDED

Lansing City Council AgendaPacket Committee of the Whole 2026-06-22

Board of Water & Light 2-Year ROE Payment Extension Approved

6% of total budgeted operating revenues for FY 2027 and FY 2028; if actual operating revenues are higher than budgeted, 6% of actual operating revenues (see notes)City of Lansing cityBOARD OF WATER & LIGHTJune 20, 2026

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Description

The Lansing City Council approved Amendment No. 9 to the longstanding agreement with Board of Water & Light, extending the contract for two years. The Board will make return on equity payments to the City equal to 6% of total budgeted operating revenues (or actuals, if higher) for FY 2027 and 2028. Payments are scheduled quarterly as described, with a term extending to June 30, 2028.

Contract Details

Contract Amount

6% of total budgeted operating revenues for FY 2027 and FY 2028; if actual operating revenues are higher than budgeted, 6% of actual operating revenues (see notes)

Vendor

BOARD OF WATER & LIGHT

Agency

City of Lansing city, MI

Contract Type

FINANCIAL_SERVICES

Document Date

June 20, 2026

Contract Term

July 1, 2026 – June 30, 2028 (2 years)

Renewal Date

2028-06-30

Renewal Info

This is the ninth amendment since 1992; contract auto-terminates June 30, 2028 unless extended by both parties. Payments due quarterly. Prior extensions occurred nearly annually or biennially.