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 February 2017)

Total Project Cost

Chemistry 1973

School of Arts & Sciences

Complete

$15.5M

Dietrich-Van Pelt Library

Penn Libraries

Design

$18M

Evans Building
Centennial Renaissance

School of Dental Medicine

Construction

$37M

Leidy

School of Arts & Sciences

Construction

$21M

LRSM
(Laboratory for Research on the Structure of Matter)

SAS/SEAS

Design

$21M

Meyerson

School of Design

Complete

$13.6M

Richards
Towers A&B

School of Medicine

Construction

$28.5M (projected)

Richards
Towers C&D

School of Medicine

Complete

$29.9M

Rosenthal

School of Veterinary Medicine

Complete

$20.8M

Ryan

School of Veterinary Medicine

Complete

$23.9M

Stemmler

School of Medicine

Complete

$119M