Century Bond Program

Century Bond Program Projects

Penn's Century Bond program is funded by a $300M bond issued in spring 2012 that has a 100-year term. Of that total, $200M is directed towards financing upgrades in lighting and HVAC systems that support energy efficiency and reduce deferred maintenance. The program will help Penn fulfill its goal of reducing the institution's carbon footprint as outlined in its Climate Action Plan. Of the $200M directed towards energy efficiency upgrades and deferred maintenance, approximately $8.5M has been invested in energy efficient lighting upgrades and $190M is planned for HVAC improvements. The remaining funds will be used for other strategic priority projects.

The utility cost savings realized through lighting upgrades and HVAC upgrades will be used to offset debt service and the principal repayment of the HVAC projects will be used to fund future projects.

Lighting upgrades have been completed on more than 57,000 fixtures in 45 buildings at a total project cost of $8.5M.

HVAC projects that have been completed or are proceeding through design and construction include:

Building

School/Center

Phase (as of September 2016)

Total Project Cost

Chemistry 1973

School of Arts & Sciences

Complete

$15.5M

Dietrich-Van Pelt Library

Penn Libraries

Design

$18M

Evans School of Dental Medicine Construction $37M
Leidy School of Arts & Sciences Construction $21M
Meyerson School of Design Complete $13.6M
Richards School of Medicine • C&D Towers – Complete
• A&B Towers – Schematic Design
$57.8M
Rosenthal School of Veterinary Medicine Construction $20.8M
Ryan School of Veterinary Medicine Construction $23.9M
Stemmler School of Medicine Construction $119M