Schools to Get Energy Conservation Upgrades This Summer

The Fairfield School District will be taking advantage of a special state program and extremely low interest rates to make energy conservation improvements at all ten of its schools. “We know we can make our schools, especially our eight older schools, much more energy efficient and reduce our operating costs,” said Superintendent Cathy Milligan. “But to do that we first have to purchase the newer equipment. This special program let us issue bonds at interest rates that were very low, and then pay them back with the savings from the reduced operating costs. “Our taxpayers will see several million dollars in improvements without any change in their taxes.” Most of the $4 million in improvements will be financed under the Ohio School Facilities Commission Energy Conservation Program. Often called the House Bill 264 program, after the 1985 law that created it, the funding “gives districts the ability to save millions in utility bills and operating costs, and all at no additional taxpayer expense,” the commission says. Since its inception, more than 500 Ohio school districts have taken advantage of the program. Some of the improvements will be financed with bonds issued outside the HB 264 program. None of the bonds issued will result in any change in property taxes. The program requires that the energy conservation measures must save, over 15 years, as much or more than the cost of buying and installing the new equipment. Chad Lewis, the school district’s business director, said he’s looking for a payback period even shorter than that. Lewis said that the planned improvements include: Replacement of some original heating systems that still use boilers. Replacement of high-intensity discharge lights in gymnasiums. Classroom lighting upgrades. New windows at North Elementary, West Elementary, and the Middle School. Air conditioning at North Elementary and West Elementary. Surge protection corrections. Programmable thermostats with setback controls. Building automation software/control replacement. As part of the HB 264 project, the Ohio School Facilities Commission will verify that the energy savings projections are accurate. The district is working with National Energy Control on the project. Lewis said that bids for the work will allow for participation by local companies. Almost all the work will be started and completed during the summer of 2011. Moodys Investors Service rated the bonds the district issued to finance the work at “Aa2,” or “high quality.” The district’s other existing bonds carry the same rating.

 

House Bill 264 Project Summary

PowerPoint of House Bill 264 Updates

The following is an approximate summer schedule for the House Bill 264 Project. This project is helping the Fairfield City School District make much needed energy efficient upgrades to all of the school buildings. This is being done by borrowing money approved by the state of Ohio and paying it back from the energy savings the District will receive due to the upgrades. We are excited about this project and will be keeping the community informed as we progress through the summer!

HB 264 Approximate Summer Schedule 6-6-11