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RSU 5 board authorizes lease financing for phase 2 of district energy and facility upgrades
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Summary
The board approved a resolution authorizing lease-purchase financing to proceed with phase 2 of a district energy-audit work plan (authorization up to $2,429,416) and directed staff to proceed with bidding and financing steps; facilities director noted some items are critical replacements rather than net energy-saving paybacks.
The RSU 5 Board of Directors voted to authorize the superintendent and finance staff to pursue lease-purchase financing for phase 2 of the district energy-conservation project at its March 25 meeting.
Finance director Kelly presented the motion to allow EMC (the energy-audit vendor) to move from planning to bidding on phase-2 items and to permit the district to secure lease financing for the project, described in the packet as approximately $2,429,416. Kelly said the district plans to phase the overall audit work in roughly $3 million chunks, each financed over 17 years, and to use undesignated funds to smooth tax impacts across years.
Facilities director Glenn Reynolds explained that some items included in phase 2 are driven by equipment obsolescence or safety (for example automation and fire-alarm systems) rather than immediate energy savings; others, like lighting, air-handlers and reheaters, have estimated annual energy-savings projections but require multi-year payback. Reynolds noted replacing obsolete equipment can also reduce maintenance risk and improve building functionality.
Board members voted to authorize the phase-2 authorization and financing motion; the board then directed EMC and administration to proceed with bid solicitations and vendor selection.
What happens next: EMC will begin bidding specified phase-2 projects, provide refined cost estimates, and the district will finalize lease-purchase financing once costs are known. Funding of some smaller repairs will remain in the district's facilities budget.
