The new 6\17\2015 financing closing will consolidate Lextran’s administration, bus maintenance, fuel/wash operations and parking for buses and employees (the “Project”). The Project will be located on 13.69 acres at 200 W. Loudon Avenue, Lexington, Kentucky 40508. The brownfield site was the original location of a General Electric (“GE”) electric light bulbs manufacturing operation. The GE facility was decommissioned and demolished in 2011. Lextran acquired the property from GE, by purchase, in September of 2013. GE was solely responsible for the environmental remediation of the site and all remediation has been completed.
The Project allows Lextran to enhance operational efficiencies by combining its administrative and maintenance operations, which are currently conducted at two different locations. It will also result in the upgrade and improvement in its maintenance operations, which has been in place since 1973, with new maintenance bays and equipment. Specifically, the Project will have six maintenance bays which will be three more bays than what it has at the current facility.
Specifically, the construction of this Project is comprised of: (i) a new 22,700 square foot administration/operations building (ii) a new 26,300 square foot bus maintenance building, (iii) a new 4,400 square foot fuel/wash building and (iv) optimized parking and circulation to support 75 buses and 165 employees and visitors.
Equally important, the Project will contain a new compressed natural gas (CNG) fueling system allowing Lextran to convert it bus fleet from diesel powered to environmentally friendly CNG powered buses. CNG is cheaper and cleaner and CNG powered buses have lower maintenance costs than its existing diesel buses. Annual fuel savings resulting from using CNG rather than diesel are estimated at $5,179 per bus.
- Retain 190 new FTE permanent jobs
- Lextran, with the assistance of its design build team, estimates that 480 direct jobs and 265 indirect jobs will be created as a result of the construction of the new complex over the 16 month construction period.
- Improved and expanded service
- Cleaner, more fuel efficient fleet of buses
- LEED Silver Certified building on a former brownfield area
- Health/wellness classes targeted to the low-income community residents and low-income people