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Battery Project Brings $3.97M Tax Revenue

City of Daly logoCity of Daly
Disclosed value
$3,975,000
From agenda
Document date
Feb 24, 2025
Term
30 years

The 30-second brief

What it covers

Daly City to receive $3.975 million in one-time sales tax revenues from battery energy storage system purchase. Development agreement spans 30 years, ensuring long-term revenue stream.

Who holds it

Cormorant Energy Storage holds this development agreement contract with City of Daly.

What happens next

Term as filed: 30 years.

See who signed off on this $4M contract.

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Contract details

Contract type
Development Agreement
Amount
$3,975,000
Document date
February 24, 2025
Term
30 years
Vendor
Cormorant Energy Storage
Agency
City of Daly
Source document
city-of-daly-city-council-meeting-agenda-report-february-24-2025_5f7.pdf (Agenda)

Cormorant Energy Storage's other public contracts

City of Daly, CaliforniaCormorant Energy gets green light on project · Mar 10, 2025UndisclosedCity of Daly, CaliforniaCormorant Energy Storage development deal approved · Mar 10, 2025UndisclosedCity of Daly, CaliforniaDaly City Considers Agreement with Cormorant Energy · Mar 10, 2025UndisclosedCity of Daly, CaliforniaCormorant Energy Storage granted right-of-way encroachment · Mar 10, 2025UndisclosedCity of Daly, CaliforniaCormorant Energy Storage awarded 30-year development agreement · Mar 10, 2025UndisclosedAll Cormorant Energy Storage contractsVendor profile

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Questions about this contract

Who was awarded the development agreement contract by City of Daly?

Cormorant Energy Storage was awarded this development agreement contract by City of Daly, as recorded on February 24, 2025. The contract value is $3,975,000.

How much is the Cormorant Energy Storage contract with City of Daly worth?

The Cormorant Energy Storage contract with City of Daly is valued at $3,975,000, covering development agreement work.

What type of contract is this?

This is a Development Agreement contract, documented as a agenda record.

Where was this contract approved?

This contract appears in city-of-daly-city-council-meeting-agenda-report-february-24-2025_5f7.pdf (Agenda), dated February 24, 2025 from City of Daly. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Cormorant Energy Storage hold?

Cormorant Energy Storage may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Daly currently buying?

Explore City of Daly's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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