FINANCIAL_SERVICESAPPROVED

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

Lansing, Board of Water & Light Extend Utility Payment Pact

6% of total budgeted Board operating revenues, excluding inter-utility sales, as in effect at the start of each of fiscal years 2027 and 2028. If actual operating revenues are higher, 6% of actual operating revenues.City of Lansing cityBOARD OF WATER & LIGHTJune 20, 2026

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Description

The City of Lansing approved Amendment No. 9 to its 1992 Return on Equity Agreement with the Board of Water & Light, extending the term for two more years. The Board will pay the City 6% of its budgeted, or if higher, actual, operating revenues for fiscal years 2027 and 2028, with quarterly payments outlined in the amendment.

Contract Details

Contract Amount

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

Automatically terminates June 30, 2028 unless further extended by both parties; continues renewal/amendment process maintained since 1992; quarterly payment schedule; aligns with past amendments including previous fixed and percentage-based terms.