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Rutland affordable housing project gets $175,000 for energy efficiency

Rutland affordable housing project gets $175,000 for energy efficiency

first_imgUS Senator Bernie Sanders (I-VT) today announced a $175,000 federal energy efficiency grant for a 17-unit affordable housing project in the historic St. Stanislaus School and Convent buildings. The project’s extraordinary energy-saving improvements could make it a national model.  While a typical weatherization project in Vermont can save 20 to 30 percent on energy consumption, the St. Stanislaus project will aim to reduce energy use for heating by 60 percent, and reduce carbon emissions by 80 percent or more. One result will be that energy costs at the St. Stanislaus project will be slashed by thousands of dollars every year.“I am very pleased that this grant will help the St. Stanislaus project set a new standard for energy efficient affordable housing,” Sanders said. There is little doubt in my mind that in the years to come the energy mix in this state will be very different than it is today.  This federal support will help move our state toward a greener economy.“At a time when many Vermonters are struggling economically, when affordable housing can be very hard to come by and when many low- and moderate-income people are spending 50 percent of more of their limited income on housing, this affordable housing project is sorely needed and I’m very excited to see it built in Rutland.” “Sen. Sanders is giving us an exciting challenge and a tremendous opportunity,” said Elisabeth Kulas, executive director of the Housing Trust of Rutland County. “We’ve been sensitive to energy improvements and the concept of renewal energy in our affordable housing development, having dabbled with solar hot water and spray foam insulation in the recent past. This grant is creating a pathway to implement the most advanced, yet proven, energy technologies. “Furthermore, and equally notable, pursuing this initiative in a project that is also meeting the National Park Services’ highest historic preservation standards  adds one more critical dimension and means this will serve as a poster child for historic preservation with energy efficiency and renewals technology for the rest of the country,” Kulas added.In order to achieve the energy efficiency goals, the project will increase roof and wall insulation and install high-efficiency lighting and appliances. It also will feature a wood pellet boiler, a solar hot water heater, triple-glazed windows, and an energy-saving ventilation system.In addition to the $175,000 grant that Sanders secured from the U.S. Department of Energy, the $4.6 million project also received $1.25 million from the federal stimulus package and significant funding from the Vermont Housing Conservation Board and other investors.The project will revitalize two long-abandoned historic buildings in West Rutland.  Both the school building and the convent which housed nuns who taught there are included on the state’s historic register and the National Register of Historic Places.Source: WEST RUTLAND, Vt. Oct. 27 – US Senator Bernie Sanderslast_img read more

Breaking down Le’Veon Bell’s new Jets contract: Was the holdout worth it?

Breaking down Le’Veon Bell’s new Jets contract: Was the holdout worth it?

first_img Over the next two years, Bell will earn $26 million, which is just $11.456 million more than what he would have received on the franchise tag in 2018 alone. The break-even point for him was a contract that maxed out at $11.456 million in full guarantees, which several veteran backs — Todd Gurley, David Johnson, Devonta Freeman, LeSean McCoy, Jerick McKinnon, Lamar Miller — were already earning.While we can’t discount the risk of injury, it is worth nothing that Johnson missed almost the entire season before signing his contract, and the NFL is filled with players coming off injury scoring big deals. So it is reasonable to believe Bell would have gotten the same offer from the Jets regardless of how 2018 played out.That means he is out at least $14.544 million no matter how you slice it.The numbers look even worse when comparing Bell’s Jets contract to the Steelers’ “non-guaranteed” offer. Here is the three-year earnings breakdown for Bell under the three most-likely scenarios: the Steelers’ offer, the franchise tag (plus his new contract) and his new contract.YearSteelers’ offerFranchise tagCurrent deal2018$19.5 million$14.544 million$02019$13.5 million$14.5 million$14.5 million2020$12 million$11.5 million$11.5 millionTotal$45 million$40.544 million$26 millionAs a practical matter, the Steelers’ offer would have paid him $33 million; the odds of a team releasing a player after one season are low, especially given the disparity in Year 1 salary and Year 2 salary.Though it did not have the highest upside, the safest route of the three would have been Bell playing under the franchise tag and then signing a contract with two guaranteed years — if the guarantee was the main concern. The worst of the three routes is the one Bell took. The only scenario in which that would change would be his suffering a career-ending injury while playing under the tag. MORE: Bell claims no regrets about 2018Bell’s contract with the Jets comes with $25 million guaranteed at signing but just an $8 million signing bonus and $14.5 million salary in the first year. Of that $14.5 million, $500,000 is tied to being active on the roster.These numbers are important when evaluating the contract because Bell is essentially agreeing to play this year on the same (if not slightly lesser) salary than the franchise tag would have provided him last season. The Jets, meanwhile, essentially get him to play in 2019 at the same number he just turned down.The crux of Bell’s argument against the Steelers’ offer was the lack of guaranteed money. The Jets certainly packed some guarantees in this deal, but they don’t come without risk. In typical NFL contracts, all future salary guarantees void when and if players are suspended; it is a common clause. Bell has been suspended twice in his career.MORE BELL CONTRACT:A win for Jets’ risk-reward managementPlayers usually avoid some of that risk by netting large amounts of cash in the first year of a contract. In a deal like Bell’s, one would expect the first-year cash to be in the ballpark of $20 million, but Bell will earn only $14.5 million, putting all the future guarantees at risk.If Bell were to be suspended, his contract situation would then be no different than what it would have been had he played under the tag. And with just an $8 million signing bonus, there is limited dead money in the contract to cloud the Jets’ decision-making if those guarantees do indeed void. MORE: What’s next for New York Jets?The Jets deal — with its low up-front cash flows, $2 million in per-game roster bonuses, plus holdout protection in the form of reporting bonuses in the final two years of the contract — indicates how limited of a market there was for Bell in 2019. High-demand players generally do not get forced into all three of those categories.This is something Bell and his agent should have seen coming, and they should have appropriately planned for it. They could have done so by taking one of those other two options.center_img After a year of speculating about what Le’Veon Bell would receive as a free agent, and whether that contract would justify his decision to skip last year’s season, we have an answer.Bell signed a four-year, $52.5 million contract with the Jets that not only failed to make him the NFL’s highest-paid running back, but it also did not justify his bypassing the $14.544 million franchise tag, let alone the contract offer the Steelers reportedly made Bell that would have netted him in the ballpark of $45 million over three seasons.last_img read more