HVAC Replacement Project Financing
Delaware County Community College > Vice President of Finance and Administration
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Delaware County Community College, PA
]hvac replacement financing, marple campus 26-3 dccc
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Description
Delaware County Community College seeks proposals from financial institutions to finance the full replacement of aging absorbers, a chiller, and a cooling tower serving its campus. The proposed replacement includes magnetic-bearing chillers and high-efficiency boilers. The estimated project cost is $9 million, and the requested loan amount is $8.5 million, primarily for equipment procurement, delivery, and related engineering costs; installation, engineering, and permit fees are estimated at $500,000. Proposals should address a tax-exempt equipment lease-purchase with a requested 60-month term, fixed interest rate, full amortization, and semiannual repayment. Respondents should provide a lender profile and relevant nonprofit or educational financing experience, a term sheet covering rates, fees, and financial covenants, and a timeline to close. The selected institution is expected to provide an online servicing portal, staged disbursements paid directly to the HVAC vendor, and an experienced relationship manager. Evaluation considers total cost of capital, covenant flexibility, personal-guarantee requirements, and relevant experience.
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