D.C. Housing Authority - $26 Million /13 year Energy Performance Contract
The District of Columbia Housing Authority (DCHA) entered into a $26 Million /13 year Energy Performance Contract (EPC) lease agreement to finance the purchase and installation of capital equipment that upgraded its infrastructur and reduced energy costs. DCHA serves over 50,000 District residents and is considered one of the nation's most innovative housing authorities. The DCHA EPC project was one of the first self-managed energy efficiency projects implemented by a U.S Public Housing Authority. DCHA's subsidiary, Construction Services Administration (CSA), implemented infrastructure retrofits for 37 housing authority buildings. Year to date, the energy savings proposed in the investment grade audit (IGA) have been significantly exceeded. The annual utility savings have not only covered the debt service, but have provided improved living conditions for the Authority's residents.
"We were one of the first Public Housing Authorities to implement an Energy Performance Contract without utilizing an outside Energy Service Company. Grant Capital Management's depth of knowledge of the HUD Approval Process helped us navigate those waters successfully. Without their assistance, another six months would have been added to the process."
Christopher Stennett, Director, Development and Modernization
Administration, District of Columbia Housing Authority