Donner Summit Public Utility District Staff Report Agenda Item 8A May 2025
EverBank Proposes $2.6M Solar Lease Financing
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Description
EverBank N.A. has proposed a $2.6 million, 20-year lease financing facility to fund Donner Summit PUD's solar photovoltaic/battery project, pending further approval and due diligence.
Contract Details
Contract Amount
Up to $2,600,000 (20-year lease financing proposal)
Vendor
EVERBANK N.A.
Agency
Donner Summit Public Utilities District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 20, 2025
Contract Term
20 years (proposed: May 30, 2025 – June 30, 2045)
Renewal Date
2045-06-30
Renewal Info
Pre-payment allowed at premium in years 1-6, redeemable at par from year 7. Not an automatic renewal; refinancing or new engagement would be required at term end.
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