COLCHESTER PERFORMANCE CONTRACTING
Both the Board of Finance and the Board of Selectmen have voted to move forward with an energy savings project for most town and school facilities. The Board of Education had previously voted to support the project as well.
The type of project we are proposing is called a performance contract. A performance contract has a vendor who will make a number equipment upgrades to save energy. The project is financed through the energy savings achieved by the upgrades and the level of energy savings is guaranteed by the vendor. If we don't see the level of savings guaranteed, the vendor must pay the difference.
These projects are being done in towns across Connecticut and the country as they are a low risk method to achieve energy savings at no additional cost to the taxpayer. At worst, the project would have no negative financial impact on the town. However, if the project exceeds expectations, we will see savings above and beyond what the vendor has guaranteed. Many towns that have done these projects have seen more savings than were guaranteed.
Many people want to conserve energy and protect our environment. Many people want to save money. This project accomplishes both and will allow Colchester to begin actively managing its energy expense. We know that the global demand for energy will increase in the coming years and decades. Coupled with an uncertain supply, this combination makes energy management a critical function of our operations in order to control costs.
Throughout the next few weeks, there will be a series of information sessions (listed below) where the public will hear presentations about the project and can ask questions. We encourage all residents to attend and participate in the discussion. We will also have a town meeting on January 23 at Bacon Academy at 7:00 p.m. to decide if we should move forward with the project.
This is a very exciting and beneficial project to Colchester and I hope all will take the time to learn about it and participate in the discussion.
Gregg Schuster, First Selectman
CALENDAR OF EVENTS:
Wednesday, January 23, 2013 7:00PM Bacon Academy
If you have any questions, please feel free to contact the First Selectman's Office at (860) 537-7220 or at email@example.com.