HomeMy WebLinkAbout20210517_Solar Panel ProgramNEWPORT HOUSING PARTNERS, LP
City of Newport Beach
100 Civic Center Drive
Newport Beach, CA 92660
Re: Bayview Landing
18201 Von Karman Avenue, Suite 900
Irvine, California 92612
May 17, 2021
Newport Beach, California
Solar Program
Ladies and Gentlemen,
This letter is to inform you that Newport Housing Partners, LP (the 11Partnership") plans to enter
into a contract to install solar panels at the Bayview Landing project in an effort to offset electricity
usage from the electrical grid. We are very excited about the many benefits this system will provide to
property operations, our residents, the Partnership and the environment, and want to inform our
stakeholders of our intention to pursue this beneficial program.
Following are some of the material details of the solar project:
• The Partnership will enter into a contract with Sunrun, a national provider of solar solutions to
commercial and residential customers, to install a complete solar system at the property that is
expected to offset a material portion of the electricity the property draws from the electrical
grid.
• The contract gives the Partnership the option to proceed with installation should Sunrun
determine the system is viable following the completion of its due diligence. That process is now
complete and we are prepared to issue a Notice To Proceed (NTP) to Sunrun.
• The Partnership will incur no financial obligations as part of the contract or ultimate installation.
Funding for the installation is sourced through a combination of public subsidies and private
contributions sourced and received by Sunrun, none of which flow through the Partnership.
• Under the terms of the contract, Bayview Landing residents will receive at least 51% of the
benefit of the solar system power generation, meaning that residents will realize a material
reduction in their electricity bills as a result of this program.
• The contract provides a full spectrum of liability and warranty protections that significantly
reduce the risk of any adverse impacts to the Partnership and its property.
If you have any questions about the solar program, please contact Scott Richter at 949.265.4960
or at AMRC@related.com.
cc: Scott Richter
Liane Takano
Sincerely,
Newport Housing Partners, LP
By: Related/Newport Development Co., LLC,
Administrative General Partner
By:1~~
Frank Cardone
Vice President