Lumberton Township Public Schools

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Lumberton Township Public Schools

• Capital Systems / Maintenance and Solar Energy
  Program
• December 2008

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ASHBROOK E.S.
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BOBBY'S RUN E.S. LUMBERTON M.S.
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F.L. WALTHER E.S.
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Lumberton Public Schools

• Total Cost of all projects 14,996,439
• Including solar energy systems of 10,800,000
• Includes work at all four district schools
• Ashbrook Elementary 3,733,629
• Bobby Run Elementary 3,243,492
• F.L. Walther Elementary 4,405,916
• Lumberton Middle School 3,613,402

• State Pays 42.52 of total project costs
  6,375,825
• Local share 8,620,614

• Solar Savings
• Utility savings per year 288,472
• SRECs per year 603,168
• Total/year 891,640

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Usual Method 100 Costs to the
Homeowner Allocation in annual budget without
eligible NJDOE Debt Service Aid
Required Maintenance 4,196,439 in next five
years.
Cost of Long Range Facility (LRFP) Systems
included in referendum (not including Solar)
Required Maintenance 839,288 per year.
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Solar Energy
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Similar Solar Projects in New Jersey School
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Similar Solar Projects in New Jersey School
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• Benefits of Photovoltaic Systems
• Financial
• Reduction of annual electric/utility operating
  costs.
• Revenue producing on an annual basis
• Solar Renewable Energy Credits (SRECs)
• 1 MWh of generated solar power equals an SREC.
  The SREC can then be traded or sold for a range
  of 300 to 550.
• Environmental
• Reduction of the Districts Carbon Footprint
  through reduction in fossil fuel consumption.
• Educational
• Demonstrates to students, staff and public
  benefits of renewable energy through technology
  and financial savings.
• Develop curriculum of technologies utilized.

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Clean Renewable Energy Bonds

• Created as part of the Energy Policy Act of 2005.
• CREBs are tax credit bonds in which interest
  is paid
• for by the Federal Government in the form of
  tax credits.
• Permits school districts to issue zero interest
  rate bonds by
• providing a tax credit to the bondholder
  instead of the
• school district paying interest.
• School District still entitled to debt service
  aid.
• Have to apply to program.

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Sample Tax Impact Analysis 20 Years
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Sample Tax Impact Analysis (continued)
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Sample Tax Impact Analysis 15 Years
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Sample Tax Impact Analysis (continued)