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District receives favorable EPC bid, plans October financing close and RENEW work to start
Summary
Staff reported a below‑expected EPC bid (about 3.74%), an Oct. 16 financing close and an immediate start for RENEW energy work; financing will be with TD Bank and the EPC vendor intends to order equipment after closing.
At the Port Washington Union Free School District budget and facilities committee meeting, staff reported progress on the district’s energy performance contract (EPC) and related RENEW energy projects.
Kathy, staff member, told the committee that the district issued an RFP and received bids at a rate the district described as favorable, "I believe it was 3.74%," and that the district planned to close the financing on Oct. 16. She said work would begin shortly after closing.
Committee discussion covered vendor selection and financing logistics. Kathy and other staff said the financing package was slated to use TD Bank; staff said the board would receive formal documents for approval as part of the board packet. A staff speaker said the EPC financier and the selected contractor planned to begin ordering equipment immediately after closing so installation could begin in mid‑October to meet program timelines.
The committee agreed to include a RENEW update on the October agenda; staff indicated they had invited RENEW representatives to present. "They could start on the seventeenth because they wanna get things moving," a staff member said when asked about project timing. Members emphasized they wanted a clear presentation tying specific projects to funding sources (EPC, capital reserves, bonds or grants) when facilities priorities are reviewed in November and December.
No formal financing motion was recorded in the committee; the committee discussed timing, next steps and coordinating the EPC work with the district’s capital and long‑range facilities plan.
