Cornell College in Mount Vernon, Iowa has partnered with Johnson Controls on a $5.9 million infrastructure improvement plan to rectify the campus’ aging infrastructure and significantly reduce operations and maintenance costs.
As part of the plan, the college’s original two buildings, College Hall (1857) and Old Sea (1853), have recently received over 150 new energy-efficient windows; high-efficiency boilers were installed to remove the final eight buildings from the campus steam plant; and nearly every campus building was upgraded with LED lighting.
The agreement with Johnson Controls guarantees that infrastructure upgrades will produce savings that repay the company for project costs over time, which does not require any traditional loans. Instead, Cornell pays Johnson Controls based on measured and verified results through a funding structure known as contingent payment funding. As a result, the infrastructure improvements do not impact any of the college’s existing debt covenants or obligations.
The campus is expected to reduce its energy usage by 20% thanks to the renovations.
Related Stories
University Buildings | Mar 14, 2018
Harvard’s District Energy Facility showcases a new infrastructure typology
The building is currently under construction.
University Buildings | Mar 7, 2018
New living/learning community replaces two outdated residence halls at Emporia State University
KWK Architects designed the project.
University Buildings | Feb 16, 2018
The University of Washington receives a new Nanoengineering and Sciences Building
The building marks the second phase of a 168,000-sf complex.
University Buildings | Feb 9, 2018
University of Missouri’s new dining experience lessens food waste and inventory
The project was designed by KWK Architects.
University Buildings | Jan 31, 2018
Report: Spending spree on new buildings a risky venture for some U.S. universities
Higher education institutions continue to add new buildings in spite of increased stress on facilities management budgets, according to a new report from Sightlines.
Healthcare Facilities | Jan 29, 2018
The new Virginia Tech Biomedical Research Addition will include research facilities in five thematic areas
The project is a collaboration between Carilion Clinic and Virginia Tech.
University Buildings | Jan 22, 2018
University of Copenhagen’s new research building focuses on energy efficiency
C. F. Møller designed the building.
University Buildings | Jan 19, 2018
A 360-degree classroom highlights Washington State University’s new academic innovation hub
The circle-in-the-round classroom can accommodate 275 students.
University Buildings | Jan 18, 2018
New living/learning facility at the University of Illinois at Chicago breaks ground
Solomon Cordwell Buenz (SCB) designed the facility.
Game Changers | Jan 12, 2018
‘Kit of parts’ anchors university’s remake
Sasaki designs interchangeable spaces to support a major educational shift at Mexico’s largest university system.
