OIC of New London

Location: 106 Truman St, New London, CT
Building Size: 24,320 sq ft
Year Built: 1910
Total Project Cost: $282,157
Utility Incentive: $152,605
C-PACE Financing: $137,367
Term: 14 years
Annual Interest Rate: 5.4%
Annual C-Pace Assessment: $13,000
Annual Energy Cost Savings: $13,498
Lifetime Energy Cost Savings: $196,964
Annual Energy Savings: 382 mmBTU/yr
The 32,205 square foot building at 106 Truman Street, New London CT was originally constructed in 1910 and comprises the headquarters of the Opportunities Industrialization Center in New London, CT. The proposed investment is a C-PACE transaction under which the Connecticut Green Bank would provide construction financing and a term loan commitment in the amount of $124,998 to support various energy efficiency upgrades, including: attic insulation, CFL lighting, an HVAC control system, variable frequency drives for water pumps, 15 new heat pumps, and a new cooling tower.The contractor for the project will be Controlled Air, Inc.