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Hanford approves $3.68M lease-purchase to finance wastewater solar project; city to receive estimated ITC
Summary
Council authorized a $3.68 million equipment lease-purchase to fund solar at the wastewater treatment plant, selecting Bank of America Public Capital Corp'9s ~4.49% bid; staff expects the project to qualify for an Investment Tax Credit of roughly $938,000 and projects net energy savings over the lease term.
City finance staff and municipal finance advisors presented financing terms for a $3.68 million solar equipment installation at the wastewater treatment plant and recommended authorizing an equipment lease-purchase agreement and escrow control to fund construction.
NHA Advisors and Oppenheimer ran a lender solicitation; Bank of America Public Capital Corp (BAPC) submitted the most advantageous…
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