Board approves $8.74 million Schneider Electric HVAC contract, greenlights DNR loan and tax-exempt lease with $2.5M down

HILLSBOROUGH — The Hillsborough School District board voted to enter a guaranteed-maximum-price contract with Schneider Electric to replace the high school heating, ventilation and air-conditioning system, approving a project value of $8,739,846 and authorizing associated financing this evening. The board also approved a Missouri Department of Natural Resources loan and a 15-year tax-exempt lease purchase agreement with Bank of America, with a $2,500,000 down payment from the district’s capital reserves. The contract covers a full mechanical replacement of the high school system, equipment, engineering, construction management and warranty support, Schneider Electric representatives said during a presentation to the board. Daryl, identified in the presentation as Schneider Electric’s senior director of operations, told the board the contract is a…