Bensenville Police Facility Awarded $6.8 Million in Energy Conservation Bond

Bensenville, IL -On Tuesday, September 9th, 2014 the DuPage County Board approved the award of an $6.8 million Qualified Energy Conservation Bond (QECB) for the construction of a new police facility which broke ground in November of 2013.

"I would like to thank the entire DuPage County Board and Chairman Dan Cronin for approval of a QECB." Said Village President Frank Soto "We are proud to have the County's support for this significant project helping to keep Bensenville the safe community it is for decades to come."

QECB's are a taxable tax credit bond. The issuer of the bonds is eligible for a 70% rebate on the interest paid to the bondholders. By qualifying for these energy conservation bonds the Village will save up to $1 million in interest costs.

Additionally the improvement of the Village's bond rating to AA- should yield another $200,000 in interest savings.

To qualify for a QECB a building must be at least 20% more energy efficient than what the Illinois code requires. The police facility achieved this efficiency standard by upgrading roof insulation, upgrading to a more efficient chiller for the HVAC system, and switching to 100% environmentally friendly LED lighting on the project.

The Village anticipates making the leap from its current LEED Silver certification to LEED Gold which will help the Village qualify for additional grant funding assistance in the near future. The required upgrades to receive Gold certification should not cost the Village any money to implement, and will actually save the Village money annually by providing lower utility expenses.

"This allocation of energy conservation bonds allows the Village of Bensenville to be leaders in environmental sustainability and conforms on all levels with our Green Program." said Village Manager Michael Cassady.

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