About the Project:
The Melvin J. Berman Hebrew Academy is a private school facility in Rockville, MD currently operating off an HVAC system from 1999. In order to improve energy efficiency and reduce maintenance costs for its aging condensers, the Academy will use a Small Business Energy Savings Support (“SBESS”) loan to replace and upgrade their 59 rooftop HVAC units throughout the campus. All new units will be connected to an updated Building Automation System (“BAS”) that will grant the building engineer the ability to monitor the entire campus from one location, reducing energy consumption through more efficient automation and monitoring. The full replacement of all rooftop units is estimated to achieve at least 20% energy savings relative to current conditions, yielding an annual savings of $96,000.
$2,500,000 Small Business Energy Savings Support (SBESS) loan by the Montgomery County Green Bank and City First Enterprises.
Montgomery County Green Bank’s Role
Montgomery County Green Bank and City First Enterprises provided the Academy with flexible capital at an affordable rate. An interest-only loan period will allow the Academy to make the required upgrades while preserving the Academy’s reserves and its associated revenue streams. After the two-year interest only period, the loan will convert to a 10-year term with a 20-year amortization with the monthly payments covered by improved energy savings.
Private school facilities comprising over 258,000 square feet in Rockville, MD.
Property Upgrade Summary:
Replacing and upgrading 59 rooftop HVAC units as well as the building automation system.
$2,500,000 Small Business Energy Savings Support (“SBESS”) loan by the Montgomery County Green Bank and City First Enterprises.