Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Castleberry ISD board approves $5.0M energy‑savings deal and 15‑year financing despite board debate
Summary
The board approved an energy‑savings performance contract with Centrics Energy Partners and authorized up to $4.997 million in work financed with 15‑year maintenance tax notes. Trustees pressed staff on vendor experience, measurement of savings and early‑year cash shortfalls; district advisers said savings are third‑party validated and Centrics guarantees measured energy reductions.
The Castleberry Independent School District board on Monday approved an energy‑savings performance contract with Centrics Energy Partners LLC and authorized tax‑note financing to fund roughly $4.997 million of work on HVAC, controls and lighting.
Trustees voted to award the RFQ to Centrics (5–2) and approved the contract and issuance resolution in subsequent votes. The district’s financial adviser, Adrien Galvan, said competitive bank bids produced a 15‑year financing rate of 4.19 percent from Simmons Bank, which yields an annual debt service of roughly $461,000. Galvan’s financial model projects a future‑value net benefit of about $481,366 over 15 years after measured energy savings, maintenance (O&M) savings and capital‑cost avoidance are included.
Why it matters: the project is designed to reduce utility bills and to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
