Posted on Tuesday, January 16, 2018
TOLEDO, Ohio, January 16, 2018 – The Toledo-Lucas County Port Authority’s BetterBuildings Northwest Ohio (BBNWO) energy efficiency program completed its largest energy efficiency project at Maumee Assembly and Stamping totaling $3,523,657.
“This project represents the first comprehensive deep retrofit of an industrial manufacturing facility in the Toledo region,” said Paul Toth, President and Chief Executive Officer of the Toledo-Lucas County Port Authority. “The BetterBuildings Northwest Ohio program is a great option for companies looking to save energy and money while upgrading their facility. Maumee Assembly and Stamping is projected to see a 33 percent annual energy savings because of these upgrades.”
The Port Authority financed this project with support from the Ohio Department Services Agency’s (ODSA) Loan Loss Reserve program, which provided $1.76 million in loan loss reserve support. Improvements made to the Maumee Assembly and Stamping facility include the replacement of the HVAC system, the replacement of the roof in the main building, new LED lighting, and the installation of a new power factor.
“The financing strategy by BBNWO has preserved capital for new equipment and job creation at Maumee Assembly and Stamping while still being able to move forward with energy conservation projects,” said Travis Barta, Vice President of Operations of Maumee Assembly and Stamping. “BBNWO is a great program and other businesses need to see how they can work together to further promote Northwest Ohio as a leader in energy conservation.”
This project was made possible due to partnerships with Advance Commercial Roofing, the City of Maumee, EAE Tech, First Federal, Key Cable and Supply, MDA Engineering Inc., ODSA, Palmer Energy Company, the Toledo Regional Chamber of Commerce, and US Utility Contractors.
Since its inception in 2010, the BBNWO program has provided more than $34 million in financing through the completion of over 150 projects throughout Northwest Ohio.
About BetterBuildings Northwest Ohio
BBNWO offers attractive commercial financing at competitive interest rates with terms up to 15 years for projects that focus on conserving energy and generating savings through equipment retrofits to existing facilities. Financing is structured so that the repayment of debt is made through placement of a special assessment on the tax bill of the property where improvements are being made. This long-term, fixed-rate option provides a structure where energy savings will typically cover the cost of equipment, upgrades, installation and transaction cost, which make these projects “self-funding”. In addition, eligible utility company rebates and other incentives can lower overall project costs.
Energy efficiency project sizes range from $25,000 to over $5 million in project costs. Projects have been completed on all types of buildings including auto dealerships, senior living centers, office buildings, schools, parking garages, multi-family housing, airport hangars, municipal buildings, water plants, sports complexes and manufacturing/industrial facilities. Equipment upgrades can include lighting, heating and cooling systems, chillers, boilers, windows, insulation, air exchange systems, compressors and building controls. For more information about BBNWO or to apply for funding, visit www.toledoport.org.
The mission of the Toledo-Lucas County Port Authority is to develop expertise and assets that drive and grow the region’s transportation and logistics infrastructure and its economic prosperity for all.
www.toledoport.org – 419.243.8251