2016 Performance Contracting Bond Issue
DESEU 2016 Energy Efficiency Bond Issue
The DESEU is now accepting letters of interest from school districts and state agencies that would like to fund Energy Savings Performance Contracts through a tax exempt bond issuance. The DESEU is planning on issuing the bonds in the fall of 2016. Letters of interest can be sent via email to email@example.com, or you can call (302) 883-3048 to discuss possible participation.
You can also visit the Delaware Office of Management and Budget web page which provides form documents that are used for the bond financing by clicking HERE. You will need to scroll down to the Energy Performance Contracting section to find it.
Participating agencies and school districts will have many advantages including:
- Technical Advisors, also known as Independent Owners Representatives, will be made available for your agency to help guide you through the process. There is no expense for using our advisors. To download a list of Technical Advisors available for the program, click HERE.
- Access to our financial and legal advisors. Their service fees are generally applied to the cost of the bond financing
- Access to education and training services to help your organization through the process
- Ability to apply for the DESEU’s Sustainable Investment Evaluation Program. The program is intended to reduce the risk of entering into an Investment Grade Audit by offering to pay 50% of the cost of the audit up to $150,000 cash, should your organization decide not to move forward with the recommendations of the audit. You can learn more about this program at: www.energizedelaware.org/Sustainable-Investment-Evaluation-Program/
- Access to our low-interest loans for purposes of bridge financing or other support for the project if needed
Once a school district or state agency expresses an interest, the DESEU will send a “Letter of Intent.” Once co-signed, it will provide you access to all of the benefits listed above.
The next steps after the Letter of Intent is signed is to:
- Select one of the Pre-qualified Energy Service Companies (ESCO's) that can serve as your ESPC contractor. A list of pre-qualified ESCO's can be found by clicking HERE
- Select one of the Technical Assistance Service Providers from the list above
- Enter into an Investment Grade Audit (IGA) agreement with your selected ESCO. The form is located on the Delaware Office of Management and Budget web page and can be downloaded by clicking HERE. You will need to scroll down to the Energy Performance Contracting section to find it.