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Governor Steve Beshear's Communications Office
Gov. Beshear praises Veterans Affairs for Saving Taxpayers $2 Million from Utility Improvements at nursing homes
Green Bank Kentucky loan made improvements possible at three veterans nursing homes
 FRANKFORT, Ky. – Governor Steve Beshear today congratulated the Kentucky Department of Veterans Affairs on its use of a Green Bank Kentucky loan to make substantial utility improvements at three state veterans nursing homes while saving Kentucky taxpayers $2.2 million.
“I am pleased that Green Bank’s second-largest loan to date goes to improve service for veterans in our state veterans’ nursing homes,” Gov. Beshear said. “This project represents yet another success for the Green Bank. In tight budget times, it allows agencies to make needed improvements that save money immediately without having to pay large sums upfront, reduces use of electricity and water, and saves taxpayers money in both the short and long runs.”
Beshear made the announcement today at the Thomson-Hood Veterans Center (THVC) in Wilmore, which is one of the three KDVA veteran’s homes improved by the $2.2 million loan. The other two homes are the Eastern Kentucky Veterans Center in Hazard and the Western Kentucky Veterans Center in Hanson.
The project is the largest improvement project in KDVA’s history. THVC opened in 1991, and the others opened in 2002.
The improvements include:
- New energy-saving lighting fixtures and bulbs.
- New low-flow faucets and toilets.
- New water-treatment systems.
- Computerized lighting and temperature controls for public areas.
- New ozone laundry system that gets laundry cleaner while using less hot water.
- Installing new heat pumps at Thomson-Hood Veterans Center (THVC) in Wilmore.
The loan is structured in such a way that the savings from lowered utility costs cover the loan repayments. Beginning in October, KDVA will make quarterly payments of about $44,000 for 15 years to completely repay the loan at 2.25 percent interest.
“Without the Green Bank loan, we could not have made these improvements,” said Ken Lucas, commissioner of the Kentucky Department of Veterans Affairs. “Even though we knew the improvements would save us more than $150,000 per year on utility bills, we could not afford the large up-front cost. The Green Bank is a huge benefit for Kentucky’s veterans and every Kentuckian.”
In November, the Green Bank of Kentucky program was nationally recognized for its innovative use of American Recovery and Reinvestment Act of 2009 (ARRA) funding to finance energy-efficient improvements in state buildings, where the savings are guaranteed and used to repay the loan. State & Local Energy Report magazine ranked Green Bank of Kentucky third in a list of the “Top 10 Most Exciting ARRA Funded State Energy Projects.”
“Kentucky is truly a pioneer in creating such an innovative funding mechanism that allows state agencies to continue to make improvements and promote energy conservation during a time when especially lean budgets could not have afforded such opportunities,” said Lori Flanery, Finance and Administration Cabinet secretary and chair of the Green Bank of Kentucky. “And because it operates as a revolving loan program, the money will continue to recycle so that we’ll be able to help many agencies over a period of many years.”
Gov. Beshear announced the launch of the Green Bank of Kentucky in September 2009. Administered by the Finance and Administration Cabinet, the program’s mission is to promote energy efficiency in state buildings through competition for low-interest loans to reduce operating costs and energy use, protect the environment, save taxpayer dollars, promote economic development and create new green collar jobs.
“Reducing energy consumption in government buildings is an integral part of my comprehensive strategy for energy independence,” said Gov. Beshear. “The Green Bank of Kentucky program helps state agencies implement progressive changes that will have a positive, long-lasting impact on our environment and will also save tax dollars. It’s exciting that Kentucky is receiving national attention for our efforts to lead the nation in progressive action on energy reduction and savings.”
Since its inception, the program has loaned more than $8.25 million for energy efficiency projects in state facilities including loans to Kentucky Department of Education and Kentucky Educational Television (KET).
Note: Gov. Beshear has launched his “11-11-11” initiative to honor the Commonwealth’s loyal and brave men and women. Since Veterans’ Day is Nov. 11, 2011 – or 11-11-11 – the Governor plans to highlight and honor Kentucky’s veterans and active duty service members over the next several months, leading up to a Veterans’ Day celebration at the State Capitol. To find out more about this initiative, visit www.governor.ky.gov.
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