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Biomass Boiler Project Oxford Hills Comprehensive High School. Project Summary. Estimated cost $2,000,000 Grant awarded from the Department of Conservation $750,000. Net cost $1,250,000
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Biomass Boiler Project Oxford Hills Comprehensive High School
Project Summary • Estimated cost $2,000,000 • Grant awarded from the Department of Conservation $750,000. Net cost $1,250,000 • Project eligible to be funded via Qualified School Construction Bonds (QSCB) because of the district’s free/reduced lunch percentages • These bonds require a referendum vote • These are zero interest bonds - resulting in a $600,000 savings to the district over the life of the bond
Project Summary • Will reduce the amount of fuel oil consumed by 88,500 gallons • Net savings first year $128,000 • Savings will increase as cost of fuel oil increases • Reduces our dependence on foreign oil • Uses a locally grown, and manufactured project (wood chips) • Results in significant beneficial impact on the environment
Why a referendum vote? • This project qualifies to be financed by Qualified School Construction Bonds (QSCB) due to the districts high percentage of free/reduced lunch students • These are zero interest bonds • A referendum vote is required • There is a limited amount of funds available so we need to move quickly to secure financing • Our goal is to get the boiler on-line early in the heating season (January 1, 2011) so that we can save on oil costs.
Referendum Public Hearing - May 3 - 6:30 OHCHS Referendum Vote - May 11 in each town PLEASE VOTE!