With the help of CSDA Finance Corporation, the Auburn Area Recreation and Park District (ARD) recently secured funding for over $2 million in energy conservation improvements. The projects, proposed by CSDA business affiliate Centrica Business Solutions, include solar, lighting, water efficiency/plumbing controls, and pool measures.
The district decided lease purchase financing was their best option to fund the projects. CSDA Finance Corporation’s consultant from Brandis Tallman distributed an RFP to their pool of direct placement lenders. That process yielded three competitive bids with the winner lender proposing a fixed tax-exempt interest rate of 2.12% for a 16-year financing term.
Said Kahl Muscott, District Administrator, “Our Board and staff spent a lot of time investigating this method of completing these energy efficiency upgrades that will not only save the District money, but will provide a better product for the community. In the end we came up with a great team to help us move forward, and the CSDA Finance Corporation was a key element in making it all come together.”
Interest rates have been at historic lows, making this the ideal time for districts to access new money as well as refinancing prior debt. To get a quote for your next project, visit www.csdafinance.net or call 877.924.2732.