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The City of Toronto has established an extensive Energy Retrofit program. CELOS is monitoring a specific project under this program, the Cinergy Contract to retrofit arenas and outdoor rinks, to observe how the City handles such projects, and how these projects effect the use of these spaces. Cinergy currently operates under the name Optimira, and over the life of the proposal and implementation has been named Vestar, and been associated with Duke Energy.
We are interested in knowing
posted February 01, 2010
The Cinergy project paid the contractor about $10M to recommend and implement energy saving measures in city arenas and outdoor rinks. The financing for the project initially came from loans to the city, which loans are to be paid out of Parks, Forestry, and Recreation (PFR) operating budgets over about 7 or 8 years. The financing assumes that the energy saving measures actually save the city at least the full cost of the project, in cash, over the period of the loan. If this assumption is incorrect, or if operating budgets reflect current reduced costs, not previous costs, then the payments out of operating funds would reduce funds available for PFR programs. Interest costs are another consideration.
The project organization consists of:
The project consists of:
Project control consists of:
We are interested in understanding if the objectives were achieved, and if they were achieved productively. We are also interested on the impact of the project on arena operations. Specifically, we are interested in: