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Council approves $11M+ solar and energy efficiency package, financing with Bank of America
Summary
Lincoln Council approved financing and work orders to install solar arrays and replace HVAC units across city facilities, approving a roughly $11.05 million project and a financing proposal from Bank of America with expected federal tax incentives reducing net cost.
The Lincoln City Council on July 9 approved a multi‑faceted energy efficiency and solar package that includes financing and contracts to build rooftop and ground‑mounted solar arrays, replace HVAC units and cover pickleball courts, and to set up a 10‑year operations and maintenance agreement.
City staff presented financing options and said an RFP produced bids from banks; PFM financial advisors recommended the Bank of America proposal as the lowest cost of capital. A PFM representative summarized the Bank of America offer as a loan of about $11.7 million,…
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