News Release No. 465

DEPARTMENT OF NATURAL RESOURCES
RESUMES ENERGY-EFFICIENCY LOANS

Volume 33-465

Contact: Larry Archer

(For immediate release)

573-751-3807
JEFFERSON CITY, MO, NOV. 10, 2005 -- Missouri Department of Natural Resources Director Doyle Childers announced today that the department is again accepting applications for its popular Energy Loan Program.

Speaking at a news conference at the Logan-Rogersville Middle School, Childers announced that funds are now available to resume making low-interest loans for energy efficiency projects to local governments, schools and universities.

"Through this program school districts such as Logan-Rogersville R-VIII are capable of making energy-efficient upgrades to their facilities, which saves energy, money and the environment," said Childers. "The popularity of this program is testament to how well it works for everyone involved."

This loan program is part of Gov. Blunt's initiative for greater energy efficiency. "Loans like these lower the impact of high energy costs on Missouri citizens and public institutions," Gov. Blunt said. "I applaud the Department of Natural Resources for implementing this program again. These loans create vital opportunities that allow us to focus public funds on education. Money spent previously on energy costs can now go toward school programs, books and other necessities for the classroom."

Due to the popularity of this program, the department ceased accepting applications for loans in November of 2004 after all loan funds were committed. In order to leverage additional funds for this program, the department plans to sell bonds against the completed loan projects that have received funding. Through bond financing, the department expects to leverage up to an additional $15 million that will be used to make loans during the current loan application cycle. The current loan cycle will be a competitive application cycle with applications being due by Jan. 18. Half of the available funds are reserved for public schools, while 25 percent will be dedicated to each of the local government and public higher education sectors.

The Logan-Rogersville School District received a $222,269 loan to replace light fixtures throughout buildings in the district with high-efficiency lights. The district's annual savings on energy costs with the upgrades are expected to be $31,419. The district will use those savings to repay the loan over an eight year period, after which the savings can be used to fund other essential services.

Since its inception in 1989, the program has made more than 400 loans with a total value of more than $65 million. The cumulative energy savings resulting from energy loan-financed projects are estimated at $72 million.

For more information, contact the Missouri Department of Natural Resources' Energy Center at 573-751-3443 or the department toll free at 800-361-4827.

For news releases on the Web, visit www.dnr.mo.gov/newsrel. For a complete listing of the department's upcoming meetings, hearings and events, visit the department's online calendar at www.dnr.mo.gov/calendar/search.do.

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Note to Editor/News Director: To find energy loan projects in your coverage area, a map of all projects during the past three fiscal years is available online at www.dnr.mo.gov/energy/financial/loanmap.pdf.