NYSERDA Press Releases

St. Francis High School Uses New York Energy $mart^SM Loan Fund For Purchase of Energy-Efficient Replacement Windows
School to Save More Than $33,000 in Interest Charges

Athol Springs - St. Francis High School made an educated decision when it chose to work with the New York State Energy Research and Development Authority (NSYERDA) in obtaining a low-interest loan to pay for the installation of energy-efficient windows in two of its buildings.

"NYSERDA is a proud partner with St. Francis High School to help lower its utility bills and make the buildings and classrooms more comfortable," said Peter R. Smith, NYSERDA Acting President. "By utilizing the New York Energy $mart^SM Loan Fund, St. Francis High School was able to save money and afford high-quality, energy-efficient windows."

"The new windows are a tremendous cost-saving measure that also adds to the aesthetics of our buildings," said Fr. Michael Sajda, OFM Conv., Principal of St. Francis High School.

"These windows have added to the comfort level for our students, faculty and staff. They have enhanced our energy efficiency so we can make better use of the donations from our benefactors to provide additional benefits for our students," said Fr. Joseph Benicewicz, OFM Conv., President of St. Francis High School.

"This is a great example of the public-sector and the private-sector working together to benefit our community. M&T Bank is pleased to partner with the NYSERDA to provide long-term savings for St. Francis High School -- reducing both finance costs and energy costs," said M&T Vice President Richard Wachowiak, from the M&T Bank office in Hamburg.

St. Francis High School utilized the New York Energy $mart^SM Loan Fund to borrow $324,685 from M&T Bank for the purchase of 300 ENERGY STAR-rated windows that were installed in the school's Friar's Hall and Justin Hall, buildings that serves as classrooms and administrative office space.

The New York Energy $mart^SM Loan Fund reduced the interest paid on the loan by 4.5 percent. By taking advantage of the Loan Fund, the high school reduced the interest rate it is paying on the loan from 7.22 percent to 2.72 percent over 10 years, saving more than $33,612 in interest charges.

All New York Energy $mart^SM programs are funded by a System Benefits Charge (SBC) paid by electric distribution customers of participating utilities. NYSERDA, a public benefit corporation established by law in 1975, administers SBC funds and programs under an agreement with the Public Service Commission. The programs are available to all electric distribution customers (residential, commercial, institutional, and industrial) of Central Hudson, Con Edison, NYSEG, Niagara Mohawk, Orange and Rockland, and Rochester Gas and Electric.

Since 1998, NYSERDA has provided more than $26 million to support more than 500 projects in Erie and Niagara Counties. Combined with co-funding from NYSERDA's partners, the value of these projects is more than $65 million. Among some of the other customers NYSERDA is working with in Erie and Niagara Counties, are: State University of New York at Buffalo, Shea's Performing Arts Center, Veridian Engineering, Inc., Quebecor, Kreher's Poultry Farm, Printing Prep, Inc., HSBC Bank USA and Niagara Frontier Transportation Authority.

Additional information about these programs can be obtained at www.nyserda.org or 1-866-NYSERDA.

###