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He noted that the bank would fund the project and the city would pay back a loan over the course of several years.
"It would be spread out over so many years," said Stark. "Because of utility savings it will never impact the city." Typically you can count on savings on utility bills of 25-40 percent," Starks added.
He noted that federal stimulus funds also may be available for energy saving projects.
"I would like to take a look at that," said Alderman Karen Erwin. "There are always repairs needed at city hall."
City Administrator Russell Rost told the committee that after surveying the city's air-conditioning systems, he budgeted for upgrades for next year's spending plan.
"The newest is 20 years old and well beyond serviceable age and depending on freon, and after this year it will (freon) will no longer be available," he said. "It is probably something we need to look at, replacing the system and worn-out equipment.
"I increased the budget on the off chance that it is ready to quit before we plan," Rost added.
Mayor Mike Livengood asked Stark if window replacement would fall under the energy efficiency plan.
"The windows in the auditorium are absolutely junk," Livengood said. "You can't open or close them. They are not energy efficient."
Stark noted that windows would fall under the plan.
"Windows can be part of that, as well as AC," he said. "It can involve all sorts of things."
Stark added that he will gather figures to present to the committee. The bank provides "custom energy project financing solutions" with three- to 20-year terms. The programs are designed in a timely and efficient manner with attention to depreciation, tax credit, rebate and accounting issues.
