August 2018 through May 2019 – Design phase.

May 2019 – Contract awarded. Begin construction. Construction phase lasts 12 to 18 months.

ALIGNMENT WITH STRATEGIC GOALS: Goal 3 – Increase the University’s Financial Strength and Operational Efficiency.

Lowering energy costs and improving the campus infrastructure will improve overall operating efficiency. Updated building systems will reduce disruptions to campus operations from system failures.

COMMITTEE/PROGRAM ACTION: N/A

FISCAL IMPLICATIONS: Once the design phase is complete, the University will enter into a financing agreement to support the project. Due to the structure of the contract and agreements, there will be no net increase in operating costs from the project.

RECOMMENDATION: Approve initiation of Energy Performance Contract process.