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Board advances ESCO program: Bridgeway project billed at $7.5M; financing parameters discussed
Summary
Trustees approved moving forward with a Bridgeway Solutions energy services agreement estimated at about $7.5 million and authorized engagement of financing professionals for ESCO lease-purchase financing up to a proposed not-to-exceed amount (documents cited both $30M and $32M). The district said guaranteed energy savings will cover annual payments.
Jackson Public Schools' administration presented details of its energy-services contracting (ESCO) program and asked the board to approve a master agreement and an engagement resolution to hire financing professionals.
District staff reminded the board that the ESCO approach uses third-party financing and guaranteed energy savings to pay for major upgrades such as lighting, HVAC, controls and water conservation measures. Administration said PATH was previously approved as a partner, with an estimated investment of about $20 million; the board was asked Nov. 18 to approve Bridgeway…
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