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Hamblen County board approves industrial-grade energy audit, moves to seek $5 million low-interest loan
Summary
The Hamblen County Board of Education voted unanimously to approve a $343,200 industrial-grade energy audit and signaled its intent to seek a $5 million, 1.5% loan over 16 years to fund energy-efficiency upgrades, with loan payments to be covered by guaranteed savings identified in the audit.
Hamblen County Board of Education members on Wednesday approved spending $343,200 for an industrial-grade energy audit and authorized moving forward with an application for a $5 million state loan to finance energy-efficiency improvements in district schools.
The action came after a report from staff outlining terms the district intends to seek: a $5,000,000 loan at 1.5% interest amortized over 16 years. ‘‘The loan that we're requesting from the state is for $5,000,000 at 1.5% interest over 16 year payout,’’ said Mister Bunche (staff…
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