Addison Northwest School District

Addison County

Enrollment: 1,000 students

Keywords: school district finance, energy efficiency, multiple campuses 

Issue

The District was planning to undertake multiple improvements at all four of its district campuses. The largest improvements related to energy efficiency upgrades subject to an energy performance contract. The District hoped to secure a low cost of capital for the improvements to maximize the budgetary savings related to reduced energy use.

Bond Bank Solution

The Bond Bank approved the District’s request for financing in the amount of $7.63 million. The District will draw on the funds over the course of a year while undertaking the improvements. In total, the energy efficiency upgrades are expected to save the District over $200 thousand annually by reducing energy consumption by approximately 275 thousand kWh. All improvements were completed in 2018.