FINANCING HIGHLIGHTS
- District of Columbia Government
$250M – 2010 Master Lease - State of Alabama Department of Corrections
$62M - Energy Performance Contract - Baltimore City Government
$33M - Motorola 800 MHZ / 911 Communications System - Housing Authority of Baltimore City
$53M - Energy Performance Contract - Fulton County Government - Atlanta, Georgia
$49.5M Equipment Refinancing
State of Alabama Department of Corrections - Energy Performance Contract
The Alabama Department of Corrections (ADOC) entered into a $62,000,000/22-year Energy Performance Contract lease agreement to finance the purchase and installation of energy conservation measures to address the needs which had been developed for each of the 29 ADOC facilities throughout the state.
The Alabama Department of Corrections has been plagued for years by limited capital improvement budgets, inefficient buildings, outdated systems and worn out equipment. When all phases of the planned energy efficiency projects are completed, the ADOC will reduce its utility usage by more than 25 percent, exceeding the Governor’s Executive requiring state agencies to reduce utility usage by 20% from FY2005 levels. And, the annual utility savings are projected to cover the debt service throughout the period.
This financing is Phase I of a two-phased project. Phase two is projected to be $17,500,000 – both phases were awarded to Grant Capital in September of 2010.