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SC Facilities Management Workshop Alternative (“Third Party”) Financing Plans E.T. Murphy, P.E. Brookhaven National Laboratory October 24, 2002 Alternative Financing - Background BNL has pursued private sector financed construction for many years Guest House/dormitory project, 1987

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SC Facilities Management Workshop

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SC Facilities Management Workshop

Alternative (“Third Party”) Financing Plans

E.T. Murphy, P.E.

Brookhaven National Laboratory

October 24, 2002


Alternative Financing - Background

  • BNL has pursued private sector financed construction for many years

    • Guest House/dormitory project, 1987

    • Cogeneration, 1989

    • Office building development study, 1995

    • Steam Plant conversion, 1999

    • Apartment area reconstruction project, 2001

  • DOE/SC encouraging use of alternative financing

    • Institutional Plan onsite review

    • FY 02 and 03 contract performance measures


Alternative Financing - Plans

  • Three major projects planned in near future

    • Apartment Area Reconstruction

    • Energy Sciences Building

    • Chilled Water Plant Expansion


Alternative Financing – Current Status

  • Apartment Area Reconstruction

    • 70 apartment units varying from 1-4 bedrooms

    • 2 apartment units with 3 bedrooms with upgraded furnishings and appliances at the Director’s discretion

    • TEC $8 – 10M

    • Sited on out-leased DOE land within apartment area

    • Summer 2004 occupancy

    • RFP and facility lease in review

      • Internal

      • Input from Battelle/ORNL

    • RFP approval authority likely at DOE/BAO level

    • Targeting RFP issuance 11/02


Alternative Financing – Current Status

  • Central Chilled Water Expansion

    • In-house planning team

    • Existing plant at 94% of peak demand; no firm capacity

    • Chilled Water Storage vital to handle peaks

    • Expansion needed to support new buildings, including Center for Functional Nanomaterials

    • Additional 5,000 tons needed by 2005

    • Exploratory meetings with energy development companies in progress for last 5 months

    • Discussions with NYPA and LIPA – Total Energy Facility (Cogeneration and chilled water)

    • Satellite plant an interim approach

    • Chilled water cost would rise


Alternative Financing – Current Status

  • Energy Sciences Building

    • Currently “above target” SLI FY 2004…but

    • Specifically encouraged by R. Orbach as alternative financed projet at Institutional Plan onsite review

    • 40,000sf Lab/Office; demolishes 51,000sf WWII buildings

    • In-house economic study in progress

    • Developer Workshop next 3-6 months

    • Likely to require mortgage guarantees; Battelle support

    • Battelle considering their future role in Alt Financing; decision expected by end of November 02


Alternative Financing – Economics

  • Economics

    • Cost savings will be realized

      • Energy

      • Maintenance

      • Operations

      • Productivity

    • Net costs expected to increase

      • Developers desire 15 year amortization

      • Borrowing costs are 6-9%

      • Profit expectations 10-15%


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