It's one thing when a business decides to go green because it's good for the environment. It's another when they do it to improve their bottom line. Not only does Emagine's new theater / bowling alley have solar panels on its roof -- installing them made the business' finance packaging possible.
"After seven years, the solar array will have paid for itself. With a 25-year guarantee on the panels and rising electricity costs, Glantz said, the investment will cut the 71,000-square-foot theater's annual electricity bill by about 20 percent.
But Glantz said the key to completing the theater project was the solar panel investment. As part of the financing package, Emagine was preapproved for a $3.5 million subordinated second mortgage with a 20-year Small Business Administration 504 loan."
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