KSBA, KISTA create financing opportunity to reduce district's energy efficiency project costs
As a result of KSBA’s School Energy Manager Project (SEMP), many Kentucky school districts are identifying ways to cut their energy costs and increase the energy efficiency of their facilities. Some of those ways are as simple as turning off lights, but others require upgrades to buildings and/or equipment.
To assist districts reduce the cost of financing such projects, KSBA and the Kentucky Interlocal School Transportation Association (KISTA) have joined forces in a special financing program just for energy-conservation projects.
The KSBA/KISTA Energy Improvement Project Financing Program will provide an economical funding mechanism for small energy-improvement projects. The program will allow school districts with smaller energy improvement-related projects to participate in a single, combined, tax-exempt financing and be able to take advantage of lower interest costs with the same costs of issuance as school districts with larger projects.
Benefits of the program include:
- Tax-exempt interest rates
- Cost of issuance split among districts
- Flexibility in term of repayment (2-20 years)
- Flexibility in fund type for repayment (unrestricted, restricted of Guaranteed Savings)
The types of qualifying projects include:
- HVAC, including upgrades and replacements
- Lighting
- Building controls
- Kitchen equipment
- Windows
- Doors
- Insulation
For more information on this program, contact Ron Willhite [email protected], Larry Woods [email protected] or Tim Eaton [email protected] at KSBA at 800-372-2962.