City officials said they do not have enough funds to cover a recent bid of $18 million for the installation of 26,500 new light-emitting diode lights, but they could proceed with $6 million for the high-efficiency, energy-saving lights downtown and some of the main city arteries.
City Attorney Mike McMahan said he could not sign off on a deal involving the entire financing now, but he said city finance officials say they could utilize $6 million for 5,200 lights at this time.
Don Lepard, owner of the locally-based Global Green Lighting, said his bid prices were based on getting the full job. He said he would have to reassess his bid based on a smaller project.
He said the city is spending $3.3 million per year now on lighting and could save $2.2 million per year with the new lights. He said the savings eventually would be as much as $2.7 million per year.
The local firm earlier installed the new type lights at Coolidge Park.
Mr. Lepard said he had wanted to make a big splash of the new lighting system first in Chattanooga. He said, "This product is going to be earth shattering. It is going to sweep the nation."
Administration was directed by the City Council to continue talks with Global Green Lighting.
The matter comes up for a vote next Tuesday.