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Casa Grande board authorizes $6M energy performance contract financing
Summary
The Casa Grande Elementary District board approved an energy and construction services contract with Schneider Electric to fund energy, water and telecom upgrades financed over 18 years; board members said the project is intended to pay for itself through guaranteed and projected savings.
The Casa Grande Elementary District Governing Board on an aye vote approved an energy and construction services contract and related financing to fund facility upgrades identified through the district's master capital planning process.
Superintendent Dr. Lecke invited Brandon Woodward of Schneider Electric to present the proposed energy performance measures, which the vendor said total just under $6,000,000 after an approximately $100,000 Arizona Public Service rebate. "Everything that we just shared is just under $6,000,000 in total improvements," Woodward said during the presentation. The board was also provided financing terms: an 18-year term at a 3.976 percent interest rate and a planned capital down payment of about $700,000 to $750,000.
The project is structured as an energy performance contract that…
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