The BetterBuildings Northwest Ohio (BBNWO) Program, in conjunction with the Toledo Ohio Advanced Energy Improvement Corporation—a pioneering Energy Special Improvement District in Ohio that allows energy efficiency improvements to be funded and paid for through property special assessments—has received a second bond from the Toledo-Lucas County Port Authority. This bond is in the amount of $6,435,000.
This new bond will allow building owners to receive financing for energy upgrades. With the closing of this bond, in addition to the $5,325,000 bond that closed in May, total funding for the program is now at nearly $12 million. Eleven separate projects are included in this bond financing, along with more than $800,000 that has been reserved for near-term projects that are ready to begin soon.
"Securing this bond deal is not only a milestone for the energy program, but for the Port Authority's Northwest Ohio Bond Fund," said Paul Toth, President and CEO for the Toledo-Lucas County Port Authority. "The Port's bond fund allows for smaller projects to receive long term fixed rate financing that they would otherwise not be able to enjoy."
To date, more than 50 commercial buildings have seen energy efficiency improvements with savings up to 60% and generally averaging 20 to 40%. BBNWO has a significant number of projects under consideration with nearly 20 other buildings slated for near-term improvements.