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Ordinance 2023-30

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— Public Notice —

ENACTING NEW SECTION 238.06 “SALE AND REINVESTMENT OF RENEWABLE ENERGY CREDITS” OF THE CODIFIED ORDINANCES OF THE VILLAGE OF YELLOW SPRINGS

ORDINANCE 2023-30, VILLAGE OF YELLOW SPRINGS, OHIO

Interested persons will take note that the Village Council of Yellow Springs on Monday, June 5, 2023, gave first reading to the following ordinance. Council will give a second reading and hold public hearing on this ordinance for possible passage into law on Tuesday, June 20, 2023, in the Bryan Community Center, 100 Dayton St.

WHEREAS, at the recommendation of the Village Manager, Village Council seeks to provide a clear framework for the sale of RECs, the reinvestment of proceeds, and the compliance with relevant regulations and industry standards by enacting a new section of the Yellow Springs Codified Ordinances to establish the Village’s policy for the sale and reinvestment of renewable energy credits (RECs); and,

WHEREAS, Village Council is committed to reinvesting proceeds from REC sales back into the Village’s electric enterprise, thus fostering growth, innovation, and sustainability in the operations; and,

WHEREAS, Village Council is also committed to the wider green energy market by ensuring that for every compliance REC the Village sells, one Green-e certified REC is purchased, and

WHEREAS, proceeds from the sale of RECs will not only be reinvested into the electric enterprise to support infrastructure improvements and the development of Village-owned renewable energy projects, but can also be allocated towards several other initiatives as delineated in new section 238.06 of the Codified Ordinances of the Village of Yellow Springs, Ohio,

NOW, THEREFORE, COUNCIL FOR THE VILLAGE OF YELLOW SPRINGS, OHIO HEREBY ORDAINS THAT:

Section 1. A new Section 238.06 entitled “Sale and Reinvestment of Renewable Energy Credits” of the Codified Ordinances of the Village of Yellow Springs, Ohio be enacted to read as follows in the attached Exhibit A.*

Brian Housh, President of Council

* Full text of Exhibit A is available online at http://www.yso.com, at the Clerk of Council’s office, Y.S. Library or in the Bryan Center lobby.

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