Client Example: Inspire Academy (Muncie, IN)
An IFF loan provided public charter school Inspire Academy with the capital needed for roof repairs and the repaving of the parking lot for its facility. Repairing the roof prevented water damage and structural issues from developing, which would have cost far more to remediate over time.
Roof repairs, electrical work, and plumbing upgrades are just a few examples of the types of routine maintenance that often require attention if left unaddressed for too long. To ensure that the school facility remains functional over the long-term it’s crucial to address maintenance issues, and particularly important to address issues with the potential to grow into larger, more costly problems. Completing deferred maintenance also offers opportunities increase the energy efficiency of the facility, which can meaningfully reduce utility bills. If a roof replacement or installation is needed, for example, improving the insulation by adding a few inches of foam board is a small cost in terms of the overall project and can significantly save on both heating and cooling costs.
The same is true if windows or doors need to be repaired or replaced. Poorly insulated windows and doors increase the amount of energy lost via building emissions, which is both damaging to the environment and a school’s bottom line when utility bills are due. There are several basic steps schools can take to improve building insulation to curb energy loss, including installing weather stripping on windows and gasketing and sweeps on doors to help create a better seal to reduce energy consumption.