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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

SC Facilities Management Workshop

Alternative (“Third Party”) Financing Plans

E.T. Murphy, P.E.

Brookhaven National Laboratory

October 24, 2002

alternative financing background
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
Alternative Financing - Plans
  • Three major projects planned in near future
    • Apartment Area Reconstruction
    • Energy Sciences Building
    • Chilled Water Plant Expansion
alternative financing current status
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 status5
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 status6
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
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%