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Trustees approve fifth phase of University of Mississippi energy performance contract with Train US
Summary
The Board approved the University of Mississippi’s request to begin phase five of an energy savings performance contract with Train US to complete HVAC and controls upgrades across multiple campus buildings. Staff presented guaranteed annual energy savings and expected incentives from TVA.
The Board of Trustees of the Mississippi Institutions of Higher Learning approved the University of Mississippi’s request to initiate phase five of a multiyear energy savings performance contract with Train US.
Mr. Brad Roland presented the real estate item and said, “In accordance with Mississippi County section 31 7 14, University of Mississippi is seeking approval to initiate a fifth phase of a multiphase energy savings performance contract with Train US to execute several high priority scope items identified under the investment grade audit.” Roland outlined project scope items including chilled-water loop corrections and optimization, a building automation controls upgrade or replacement across 15 buildings and four mechanical plants, and extensive HVAC work in the library, Peabody Hall, Fulton Chapel and the Bernard Observatory.
Roland told trustees the presenter-reported construction scope was about $10,041,407 and the project would yield a guaranteed annual energy cost savings of $557,133 and cumulative energy cost savings over 19 years of roughly $10,000,006. He said the project is expected to reduce annual energy consumption by almost 4,000,000 kilowatt-hours and lower electrical demand by nearly 6,000 kilowatts. The construction period was described as roughly 18 months. Roland also said total contract amount would include project construction and a measurement-and-verification component spread over 19 years; he described a total contract figure of approximately $11,000,005 and noted expected Tennessee Valley Authority incentives of about $500,000 to be paid directly to the university upon completion.
Legal staff reviewed the item and board staff recommended approval. Trustees voted to approve the request following a motion and second. Trustees Bridget Raider announced that Trustees Clark and Ogletree recused themselves from discussion and voting on this real estate item; they left the room during the item’s consideration.
The board approved the energy savings phase to proceed; staff and the university will complete contract execution and schedule construction work consistent with the project timeline and measurement-and-verification requirements.
