LSSU Board approves 30-year performance contract.

LSSU Board of Trustees approves 30-year performance contract

The Lake Superior State University Board of Trustees approved a performance contract between the university and Johnson Controls International (JCI) during a special meeting held June 28 where Board Chair Rodney Nelson declared, “It’s a big day for Lake State.”

The 30-year performance contract will address many needs on campus. The approval of the contract “sets the stage for us to do a number of things, the first being able to address our deferred maintenance issues,” stated LSSU President Rodney Hanley. “We are taking a very progressive, proactive approach toward our deferred maintenance issues.”

With the performance contract in place, LSSU will be able to realize energy savings over many years and have the ability to track these savings. In addition, Hanley noted, “These kinds of sustainability efforts have the potential to make a positive impact on the development of curriculum at the university, student projects, and the contribution to environmental sustainability overall throughout the region.”

Upon approval of the contract, LSSU VP of Finance Morrie Walworth thanked Thrun, the bond counsel; Public Financial Management (PFM), the financial advisor; Stifel, the underwriter; and JCI for working together to reach such an excellent outcome.

LSSU Board approves 30-year performance contract.

LSSU President Rodney Hanley, right, signs a 30-year performance contract with Dave Peters from Johnson Controls International (JCI) during a special meeting held by the LSSU Board of Trustees on June 28. The performance contract is a positive step forward for the university as it addresses deferred maintenance needs and energy savings across campus.