Eastern Heating and Cooling who has been the “preferred” mechanical service provider to the City of Kingston notes that “Kingston City Hall at 420 Broadway is currently at point where immediate attention is needed in order to prevent further unnecessary spending, possible system failure and capture future Energy savings”. Below is their letter.
So here’s the scoop.
If the city of Kingston were to opt to upgrade our building’s management system, it would cost tax payers $105,000.00 as stated in the papers. At a 2% annual interest rate for a loan that is 10 years in length, the city would pay $11,892.84 each year for ten years until the loan was repaid.
Now let’s look at the savings.
With an upgrade, the savings is estimated to be $5,678.00 in year one. It continues to escalate each year. This actually cuts our annual loan payment in half. Below is an “annual and accumulated savings sheet” which will show the accumulated savings over the course of 20 years as being $152,569.99. I bet it would even be more than that. Keep in mind that after the first ten years, the savings are the city’s to keep.
Read through the documents and be in touch with your alderman to find out more information if you need to.
Seems like a no brainer to me. My vote is to start the bidding process.
– Rebecca Martin