Performance Contract Enables $7.5 Million Renovation Project for School District
DALLAS — Under a performance contract agreement, the Mt. Pleasant Independent School District (ISD) has partnered with NextEra Energy Solutions to replace aging HVAC equipment, upgrade lighting, and reduce its operating and maintenance costs. The $7.5 million project, which will benefit almost all of the district’s buildings, produces a positive cash flow in each of the 15 years of the contract term. The district is expected to see more than $500,000 per year in savings, thus exceeding the total cost of the project. Construction is scheduled to be completed by the summer of 2013.
Like many school districts throughout the country, the Mt. Pleasant ISD had an aging infrastructure, limited capital budgets, and expanding educational needs. Critical improvements were needed, but a bond referendum or other tax-based solution was not an option.