South Williamsport Area School Board approved financing for its energy conservation project on Monday night.
Over the next 10 years, the school board will make payments toward the $1.93 million it borrowed from Woodland Bank at a fixed interest rate of 2.75 percent, Tim Frey, of the Saul Ewing Board Council, told board members. After the 10 years, it will have repaid all of its debts.
The bank loan will reimburse the amount the school board advanced to Trane U.S. Inc. earlier this month to save $28,700 by paying for the project in full.
The energy savings project with Trane has guaranteed savings to help make the district more efficient with its energy usage.
Some of the energy saving projects include updating the building automation systems, upgrading the lights and controls, replacing a dishwasher installed at Central Elementary School in the 1980s and updating boiler controls at Rommelt Elementary School.
Other projects, such as a boiler room retrofit at South Williamsport Area High School, would not necessarily result in a lot of energy or operational savings.
Projects such as the stage rigging replacement at the high school and window replacement at Central Elementary School are long-term projects that will not result in any energy or operational savings.
Total savings projected annually are $126,862.
Monday night's meeting was a rescheduling from its Aug. 6 meeting. The next school board meeting will be held Aug. 20.