“This project saves taxpayer dollars, but it also improves the community in a way that residents can truly see.” —Nick Schaefer, Public Works Supervisor, City of Fraser
Public financing that’s simple, easy, and accessible
At just over four square miles and 14,000 residents, Fraser is a small town outside of Metro Detroit. Residents here share a strong sense of community—they look after their neighbors and are proud to call Fraser home. When the City of Fraser looked at their old and inefficient streetlights, they wanted better for their residents. Switching to LED lighting would save taxpayer dollars, brighten sidewalks, and make city streets safer.
But like many small towns, it wasn’t in Fraser’s budget to fund the upgrades directly. Bond financing would be too burdensome and time consuming for the project amount, and private capital would likely come with high interest rates.
“We could not have done this project without Michigan Saves. It was costing us money every day we waited,” Schaefer explained. “With Michigan Saves, we were saving taxpayer money from day one.”
Budget expenditures down.
Taxpayer savings UP.
The City of Fraser financed $236,857 of their $248,210 project with special 1.99% APR financing, enabled by a partnership with DTE Energy. The City is now projected to save about $67,000 per year on energy costs. Through Michigan Saves financing, Fraser was not only able to save taxpayer money, but it was able to build civic pride and strengthen the community.
By working with Michigan Saves, the City of Fraser installed 825 LED light fixtures throughout the city with zero money down and a low interest rate. See what Michigan Saves can do for your public-sector project.