MJ Sullivan Body Shop

Location: 452 Broad St, New London, CT
Building Size: 9,000 sq ft
Year Built: 1989
Total Project Cost: $207,272
Utility Incentive: ZREC
C-PACE Financing: $207,272
Term: 20 years
Annual Interest Rate: 5.75%
Annual C-Pace Assessment: $17,960
Annual Energy Cost Savings: $24,972
Lifetime Energy Cost Savings: $499,445
Annual Energy Savings: 271 mmBTU/yr
"The 60,000 square foot building complex at 542 Broad Street was originally constructed in 1989 and comprises a car showroom dealership and automotive bodywork center for Hyundai, Chevrolet, Buick and Cadillac models in New London, CT across two separately assessed properties under common ownership. The proposed investment is a C-PACE transaction under which the Green Bank would provide a construction financing and a term loan commitment in the amount of $205,114 to support the installation by Green Earth Energy Photovoltaic of a 70kW PV system on automotive bodyshop (PID 6652) property."