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, โ€œItโ€™s a big day for Lake State.โ€

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

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, โ€œThese 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.โ€

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.