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Board approves Bridgeway energy agreement; administration lays groundwork for up to $32M ESCO financing
Summary
Trustees approved a master energy services agreement for a $7.5 million Bridgeway project and an engagement resolution to hire financing counsel and advisors; staff said the maximum financing cap will be finalized in sale documents and flagged a discrepancy between $30M exhibits and a $32M resolution cap.
District staff presented the board with the next phase of a multi‑vendor ESCO (energy services company) strategy aimed at upgrading lighting, HVAC, controls and refrigeration across multiple campuses without upfront capital outlay.
Mr. Byrd (district presenter) summarized the ESCO model: third‑party financing funds comprehensive upgrades, guaranteed energy savings are used to repay financing, and the ESCO guarantees shortfalls. He said earlier PATH work was estimated at roughly $20 million in investment and that the Bridgeway Solutions phase presented for approval represents about $7.5 million in project cost for lighting, HVAC and refrigeration upgrades…
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