Agenda Item
Meeting Date: 9/14/2017 - 6:30 PM
Category: SCHOOL DIVISION BUSINESS
Type: Action
Subject: Energy Performance Contract and Financing Approval (LED Lighting) (7:15 to 7:25)
ACPS Division Objective :
Objective 5
We will optimize resources.
Policy:
Enclosure: Enclosure 1: Board Resolution
Enclosure 2: Lender’s Energy Financing Proposal
Enclosure 3: Draft Bond Purchase and Lease Acquisition Agreement
Enclosure 4: Draft Financing Lease between VA SAVES and School Board
Enclosure 5: Draft Deed of Sale between the School Board and VA SAVES
Enclosure 6: Draft Escrow Agreement among U.S. Bank National Association (“U.S. Bank”), VA SAVES, the School Board, VSBFA, the Program Administrator and the Lender
Enclosure 7: Draft Direct Purchase Agreement among VSBFA, VA SAVES, the Lender and the School Board
Enclosure 8: Draft Joinder Agreement among the Program Administrator, the School Board and U.S. Bank
Enclosure 9: Draft Administrative Services Agreement among the Program Administrator and the School Board
Enclosure 10: Paying Agent Agreement
Enclosure 11: Draft Energy Services Agreement with Ameresco
File Attachment:
Enclosure 1- School Board Resolution.pdf
Enclosure 2 - Lenders Energy Financing Proposal.pdf
Enclosure 3 - Draft Bond Purchase and Lease Acquisition Agreement.pdf
Enclosure 4 - Financing Lease.pdf
Enclosure 5 - Deed of Sale.pdf
Enclosure 6 - Escrow Agreement.pdf
Enclosure 7 - Direct Purchase Agreement.pdf
Enclosure 8 - Joinder Agreement.pdf
Enclosure 9 - Administrative Services Agree...pdf
Enclosure 10 - Paying Agent Agreement.pdf
Enclosure 11 - Draft Energy Services Agreement Ameresco.pdf
Summary: At the July 13th Board meeting, staff presented an update on the possibility of using an energy performance contract to update LED lighting and water fixtures throughout our school facilities. The County Finance Department, through Davenport & Company LLC, issued a Request for Proposals for financing rates and received proposals on August 1, 2017. The Board voted to move forward with preliminary financing documents at the August 10, 2017 Board meeting. The Board resolution accepting the financing package is presented. The draft Energy Services Agreement is included for permission to execute the final version.
Funding: Following the receipt of financing proposals, Davenport advised, at the August 10, 2017 meeting, to proceed with financing through Back of America and issuing through the Virginia Small Business Financing Authority to finance the 2017 Energy Performance Contract. The Board voted to proceed with preparation of financing documents. The financing package and Board resolution are attached for the Board's approval.
Recommendation: Approve the School Board Resolution related to the financing package and grant permission to execute the Energy Services Agreement with Ameresco when finalized.
Approvals:
Recommended By:
Signed By:
Lindsay Snoddy - Program Manager - Energy, Environment & Sustainability
Signed By:
Dean Tistadt - Chief Operating Officer
Signed By:
Dr. Pamela Moran - Superintendent