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
| Aug 7, 2012
McCarthy tops out LEED Platinum-designed UCSD Health Sciences Biomedical Research Facility
New laboratory will enable UCSD to recruit and accommodate preeminent faculty.
| Jul 25, 2012
KBE Building renovates UConn dining hall
Construction for McMahon Dining Hall will be completed in September 2012.
| Jul 24, 2012
Military Housing firm announces expansion into student housing
The company has partnered with the military to build, renovate and manage nearly 21,000 homes with more than 65,000 bedrooms, situated on more than 10,000 acres of land nationwide.
| Jul 20, 2012
2012 Giants 300 Special Report
Ranking the leading firms in Architecture, Engineering, and Construction.
| Jul 20, 2012
Higher education market holding steady
But Giants 300 University AEC Firms aren’t expecting a flood of new work.
| Jul 16, 2012
Business school goes for maximum vision, transparency, and safety with fire rated glass
Architects were able to create a 2-hour exit enclosure/stairwell that provided vision and maximum fire safety using fire rated glazing that seamlessly matched the look of other non-rated glazing systems.
| Jul 11, 2012
Perkins+Will designs new home for Gateway Community College
Largest one-time funded Connecticut state project and first designed to be LEED Gold.
| Jul 9, 2012
Integrated Design Group completes UCSB data center
Firm uses European standard of power at USCB North Hall Research Data Center.
