R e p u r p o s i n g t h e V i r g i n i a I n t e r m o n t C o l l e g e

IN PARTIAL FULLFILLMENT OF

PART 1: PRELIMINARY PROSPECTUS

August 21, 2015

FN: 001_Intermont_L3C_04_01_Prospectus_DRAFT_v5

Foreword i

Virginia Intermont College U.S. - China Partnership

Brief History 1 Inaugural Fellowship 17

Adapting to Change 2 Past Fellowship Activities 18

Intermont L3C Admissions & Enrollment 19

Reorganization 3 College & University Chapters 20

Research & Development 4 Virginia Intermont College

Proof of Concept 5 Campus Facilities 21

Statekolder Collaboration 6 Campus Photo Gallery 22

Sustainable Energy for All Restoration Costs, Phase 1 & 2 23

Commitment Partner 7 Site Map 24

Energy Flows 8 Restoration Costs, Phase 3 25

Gespatial Modeling 9 Campus Photo Gallery 26

Systems Dynamic Modeling 10 Restoration Planning 27

Public Education & Outreach 11 Transition to a Work College 28

K-12 & Higher Education 12 Contact Information - Back Cover

Renewable Nations Institute

Fellowship Programs 13

Certificate in Sustainable Energy 14

Undergraduate & Graduate Studies 15

Student-Centered Education 16

Ta b l e o f C o n t e n t s

F o r e w o r d

For more that a Century, the Virginia Intermont College has been

a critical educational asset to the Tri-Cities Metropolitan Area, the

Commonwealth of Virginia and the five-state region.

Graduates of the College have served and continue to serve in

leadership roles throughout the region due, in part, to the

inherent value of a liberal arts education as preparation for

professional careers, a proud tradition at Intermont.

But when the College formally closed to enrollment in July of

2014, a new direction had to be forged. The cost of a small,

private liberal arts college education is no longer affordable to the

vast majority of middle-class families in America.

Intermont needs to change in order to meet the challenges facing

higher education in 21st Century America. Such change is upon

the College today.

On July 3, 2015, the Virginia Intermont College and the Intermont

L3C signed a Memorandum of Understanding (MOU) to

reorganize Intermont as a certified Federal Work College.

And with a new mission comes a new name. If this bold plan

succeeds, the College will be rebranded as the “Renewable

Nations Institute at Virginia Intermont College.”

The “Work” of the College will be to support the development of

energy efficiency and renewable energy projects worldwide as a

“Commitment Partner” of the United Nations Sustainable Energy

for All (SE4ALL) Initiative.

SE4ALL is a project of United Nations Secretary-General Ban Ki-

moon with the goal to achieve universal access to modern energy

services by 2030, and to develop $1 trillion in energy efficiency

and renewable energy projects. The College will provide an

integrated set of Enabling Actions for Capacity Building and

Knowledge Sharing for SE4ALL participating nations to help meet

this ambitious goal.

The reorganization of the College and the mission of the Institute

are briefly described in this prospectus. More information will

come as the Parties to the MOU continue planning this transition.

In the coming weeks, our plan to is to reach out to city, state and

regional stakeholders to determine if the resources, and the will,

to preserve this vital community resource are adequate to

undertake the reorganization of the College. We look forward to

communicating with your soon, as it will require the cooperation

of many stakeholders to restore the College as a vital asset to the

community and the region.

Regards,

Art Rebrovick, Interim President & Restructuring Officer,

Virginia Intermont College

Allan E. Baer, President & Managing Member

Intermont. L3C

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The Virginia Intermont College was founded as the Southwest

Virginia Institute in Glade Spring, Virginia, on September 17, 1884,

by the Reverend J.R. Harrison, a Baptist minister, as a means to

bring higher education to women in southwest Virginia.

Shortly after the move to Bristol in 1891, the Institute’s name was

changed to the Virginia Institute to reflect its growing impact in

the Commonwealth.

In 1910, the Virginia Institute reorganized its curriculum to align

with the new junior-college movement, and became the first two-

year academic institution to be accredited by the Southern

Association of Colleges and Schools (SACS).

The Virginia Institute was renamed “Virginia Intermont College” in

1922, and became recognized as one of the South’s more

prestigious institutions for the education of women established

upon a tradition of liberal arts-based career preparation.

The 1960s had a major impact on the history of Virginia

Intermont College. During that decade five core buildings were

constructed: the Turner Student Center, Fine Arts Center, Science

Hall, Intermont Hall and Harrison-Jones Memorial Hall.

In May of 1968, the College’s Board of Trustees approved a plan

for the development of a four-year institution accredited by the

SACS.

The College awarded its first baccalaureate degrees in 1972. It

was also in 1972 that the College first admitted men.

In 1990, the College established an adult degree program – the

“Evening and Weekend College” – for adult learners throughout

southwest Virginia and northeast Tennessee .

During the 1990s and the first two decades of the 21st Century,

the College rose to prominence with a top-rated equine studies

program, attracting high-achieving students from across the U.S.

and abroad.

The economic recession of 2008 gave rise to declining enrollment

and revenue nationwide. Virginia Intermont College was no

exception.

The College experienced a 46% decline in enrollment from 2009-

2014, the greatest enrollment decline among the more than 80

colleges and universities in Maryland, Virginia and the District of

Columbia region.

In 2014, with an enrollment of 329 students, the tuition-revenue-

driven College lost accreditation with the SACS for failure to

comply with the requirements for financial resources and stability.

The College ceased enrollment and closed the campus in July,

2014.

A B r i e f H i s t o r y

1

Throughout its history, the Virginia Intermont College has grown

and thrived primarily because it has recognized the need for

developing new programs to meet the changing educational

needs of its diverse student body.

The College is poised, once again, to adapt to change as a

consequence of the profound challenges facing small, private

liberal arts colleges, and the financial circumstances of the student

population it serves.

Virginia Intermont College is seeking to reorganize as the

Renewable Nations Institute at Virginia Intermont College based

upon a mixed revenue model. The goal is to transition to a

modern, federally approved Work College in which U.S. students

are able to leave college with little or no college loan debt and/or

with gainful employment in their chosen profession.

The College has entered into a Memorandum of Understanding

with the newly formed Intermont L3C to achieve its

reorganization goals.

.

Photo: The Virginia Institute, Circa 1896

A d a p t i n g t o C h a n g e

Photo: 2014 National Champions, Intercollegiate Dressage Association

2

Intermont L3C (hereinafter “Company”) is a special purpose, Low-

profit Limited Liability Company (L3C) organized in compliance

with State of Vermont corporate law 11 V.S.A. Ch.21 generally,

and 11 V.S.A. § 3001(27), specifically.

The Company would not have been formed but for the

company's relationship to the accomplishment of one or more of

the charitable or educational purposes of the Virginia Intermont

College within the meaning of Section 170(c)(2)(B) of the Internal

Revenue Code of 1986, 26 U.S.C.

The purpose of the Company, as stated in its Articles of

Organization, is to repurpose the Virginia Intermont College as a

credit-bearing, undergraduate- and graduate-level, degree-

granting institution of collegiate rank, d.b.a., the Renewable

Nations Institute at Virginia Intermont College.

The Company will achieve its purpose by:

(i) Acquiring, planning, designing, engineering, developing,

constructing, retrofitting, furnishing, equipping, opening

and/or operating the College to provide credit-bearing,

degree-granting academic instruction, certificate-bearing

workforce training and career development services in

sustainable development, specifically, sustainable energy

development to collegiate- and professional-level students;

(ii) Recruiting sovereign, member nations of the United Nations

to join the Renewable Nations Institute under its United

Nations Sustainable Energy for All (2015) Partnership

Commitment; and

(iii) Providing such sovereign member nations and their

affiliated public and private stakeholders with technical

assistance and human capacity building services for

transparent, inquiry-based predictive modeling and decision

support for national-scale transition planning to a low-

carbon economy.

The proposed Institute was developed by SolarQuest L3C, the

sponsoring company of the Intermont L3C, in collaboration with

and partial funding from the White House, the United Nations,

and the National Science Foundation.

R e o r g a n i z a t i o n

3

R e s e a r c h & D e v e l o p m e n t

1998 - 2001 2002 - 2009 2006 - 2017

• 1998-2001: Co-Sponsor, President's

Million Solar Roofs Initiative

• 1999: Co-Sponsor, President's Council

on Sustainable Development.

• 1999-2000: Co-sponsor, Village Power

2000: and Solar Lights for Africa

• 1999-2001: Co-Sponsor, Annual

U.S./Africa Energy Ministerial Meeting

PROJECT ERGAL

• United Nations Foundation (UNF)

• United Nations Fund for International

Development (UNFIP)

• United National Development

Programme (UNDP)

• e8 Network for Expertise on the Global

Environment (e*8)

• 2006-08 : Global Challenge Award,

University of Vermont

• 2008-13: Middle Schoolers Out to Save

the World, University of North Texas.

• 2013-17: Going Green – MOSOW,

University of North Texas

• 20014-15: iGlobe, Massachusetts

Institute of Technology

Rural Electric Micro-Grid Pedagogy

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P r o o f o f C o n c e p t : P r o j e c t E R G A L , 2 0 0 2 - 2 0 0 9

Photos: Project ERGAL (Renewable Energy Galapagos), San Cristobal, Province of the Galapagos, Ecuador

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M u l t i - s e c t o r S t a k e h o l d e r C o l l a b o r a t i o n

Organizational Flow Chart: SolarQuest L3C, Project ERGAL

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The Renewable Nations Institute is a technical assistance and

human capacity building services program commitment to the

United Nations Sustainable Energy for All Initiative (SE4ALL).

The Commitment was submitted by SolarQuest L3C in May of

2014, revised in May 2015, and approved on June 12, 2015, by

Dr. Kandeh Yumkella, Special Representative of the Secretary-

General and Chief Executive Officer of the Sustainable Energy for

All Initiative, on behalf of United Nations Secretary-General H.E.

Ban Ki-moon.

Video Link: https://www.youtube.com/watch?v=uSGEWw_zW58

The United Nations Sustainable Energy for All Initiative will

stimulate $1 trillion in new investments in energy efficiency and

renewable energy by 2030, with the goals to achieve universal

energy access, to double annual global investment in energy

efficiency, and to double world production of renewable energy.

The Institute will provide an integrated set of Enabling Actions in

Energy Planning and Policies, and in Capacity Building and

Knowledge Sharing, to provide multi-stakeholder decision

support services for national transition planning to a low-carbon

economy, principally for non-industrialized nations and small

island developing states.

Enabling Actions will be modeled under the Productivity-centered

Service-learning (PCSL) pedagogy developed and prototyped by

SolarQuest L3C (in collaboration with the U.S Department of

Energy) as a co-sponsor of the US-Africa Energy Ministers Annual

Conference (1999-2001) in service to 52 African nations.

C o m m i t m e n t Pa r t n e r

Photo: U.S. – Africa Energy Ministers Conference (1999)

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I n t e g r a t e d E n a b l i n g A c t i o n s – E n e r g y F l o w s

Sankey Energy Flow Diagram, Jamaica (2007)

The Institute will support SE4ALL national-scale energy resource planning utilizing available energy data and the Sankey Energy Flow

Diagram visualization methodology (see Figure 2, below). Sankey diagrams show conserved quantities of energy within defined

subsystem boundaries and the distribution of conversions of energy flows across subsystem boundaries. Sankey Energy Flow diagrams

are used in various formats by international and national planning agencies, such as the International Energy Agency (IEA) and Energy

Information Agency (EIA).

Proposed Capacity Partner:

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I n t e g r a t e d E n a b l i n g A c t i o n s – G e o s p a t i a l M o d e l i n g

SWERA Wind Energy Resource Map, Sri Lanka

The Solar and Wind Energy Resource Assessment

(SWERA) initiative brings together solar and wind energy

resource data sets and analysis tools from a number of

international organizations in a dynamic user-oriented

environment to provide information and data to

support the work of policy makers, project planners,

research analysts and investors.

SWERA began as a pilot project with funding from the

Global Environment Facility (GEF) and was managed by

the United Nations Environment Programme’s (UNEP)

Division of Technology, Industry and Economics (DTIE)

in collaboration with more than 25 partners around the

world.

The Institute will provide SWERA geospatial data-based

mapping services to its member nations in ways that will

facilitate changes in renewable energy policies and

increase investments under the SE4ALL Initiative.

Proposed Capacity Partners:

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I n t e g r a t e d E n a b l i n g A c t i o n s – S y s t e m s D y n a m i c M o d e l i n g

Systems Dynamic Modeling Report, Ecuador

Systems Dynamic (SD) modeling tools support

comprehensive, predictive modeling for integrated

long-term national development planning and

comparative analysis of policy options, thus providing

users with decision support services to identify policies

leading towards desired development goals.

The Institute will provide technical assistance and

capacity building services to model regional and

national economies for SE4ALL policy and investment

planning utilizing Millennium Institute Threshold 21

Systems Dynamic (SD) software.

Proposed Capacity Partner:

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I n t e g r a t e d E n a b l i n g A c t i o n s – P u b l i c E d u c a t i o n & O u t r e a c h

Sample Project Publication (program issue)

The Institute will publish iglobe.today™ magazine to promote

public education (formal and informal), and for outreach in

support of the goals for the United Nations SE4ALL Initiative.

Proposed Content (sample), in Print and Online Media:

• EDITORIAL CONTENT: STEM Education Research; Next

Generation Science Standards; Climate Change . . .

• FEATURE ARTICLES: Program Elements; Professional

Development for Teachers; Research Outcomes . . .

• LEARNING COMMUNITIES: Climate Action Research; Service-

learning; Best Practices . . .

• CAREER PROFILES: STEM-based Careers in Geoscience

Research; STEM-based Professional Careers . . .

• GEOSCIENCE RESEARCH: Public Infrastructure; STEM Research

Innovation; DVG Instructional Technologies . . .

• PUBLIC POLICY: United Nations Framework Convention on

Climate Change; Public / Private Investment Strategies . . .

• CLOUD-BASED SERVICES: Integrated SD Modeling and DVG

Instructional Technologies Platform . . .

• RESEARCH COLLABORATION: Peer-to-Peer Student

Research; STEM Research Assessment Services . . .

• PROFESSIONAL DEVELOPMENT: Geoscience Library;

Accredited College Courses for Teachers . . . and more.

SUSTAINABLE

ENERGY FOR ALL

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I n t e g r a t e d E n a b l i n g A c t i o n s – K t h r u 1 2 & H i g h e r E d u c a t i o n

iGlobe® iPad-based User Platform (above), and Public Education

and Outreach using the iGlobe® Inc. HyperGlobe® (below).

All Institute-based Sustainable Energy for All (SE4ALL)

Integrated Enabling Actions will be supported with data

services through the Cloud on a multi-device enabled

software platform.

Cloud-based socio-economic and environmental software

tools will allow users to input and extract primary data,

and generate results utilizing advanced visualization tools.

Users will be able to query a broad range of parameters

by accessing multiple data sets from reliable sources, and

to maintain a dedicated, customized virtual platform to

manage and/or support country-wide transition planning.

Country-specific services to client countries will be

delivered on-demand for multiple stakeholders, including

government, industry, K-12, higher education and the

general public, utilizing iGlobe®-based Apple OS

applications.

Proposed Capacity Partners:

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F e l l o w s h i p P r o g r a m s

The Renewable Nations Institute at Virginia Intermont College will operate three core Graduate and Undergraduate fellowship programs

in partial fulfillment of its commitment to the United Nations Sustainable Energy for All (SE4ALL) Initiative. These programs are designed

as the primary delivery mechanism to provide an integrated set of Enabling Actions in Energy Planning and Policies, and in Capacity

Building and Knowledge Sharing for the SE4ALL Initiative.

U.S. Graduate U.S. Undergraduate International Undergraduate

• Paid Fellowship (credit & non-credit)

• Rolling Enrollment (12 months)

• Campus Residency

• Unpaid Internship (credit-bearing)

• Semester Enrollment

• Low-Residency / Study Abroad

• Unpaid Fellowship (credit & non-credit)

• Rolling Enrollment (12 months)

• Campus Residency & Low-Residency

Start Date: Spring 2016 Start Date: Fall 2016 Start Date: Fall 2016

Photo: Virginia Intermont College computer lab.

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C e r t i f i c a t e i n S u s t a i n a b l e E n e r g y D e v e l o p m e n t

GROUP 1: ENERGY, ENVIRONMENT AND ECONOMICS

G-1.01: This course will focus on the

economic performance of clean

energy-based projects as a GHG

reduction strategy utilizing various

approaches to conventional and

environmental economics, including

Systems Dynamic Modeling. (3 credit

hours with optional 3-credit lab)

G- 1.03: This course will focus on

renewable energy and energy

efficiency technologies in the context

of systems optimization modeling to

improve the energy intensity and

productivity of the economies of

developing countries. (3 credit course

with optional 3-credit case study)

G-1.02: This course will focus on

international environmental laws and

site-based environmental assessment

methodologies for the permitting and

licensing of a wide range of clean

energy-based technologies. (3 credit

courses with optional 3-credit field

work and laboratory)

G-1.04: This course will focus on case

studies of policy mechanisms under

the Kyoto Protocol, the Copenhagen

Accord, and various other proposed

United Nations (UNFCCC) Clean

Development Mechanisms (3 credits

with optional 3-credit case study)

Case Studies on Technology Interventions

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GROUP 2: MAPS & MODELS

G-2.01: This course will focus on

methodologies for primary and

secondary energy resource mapping

utilizing the UNEP SWERA geospatial

toolkit and country data. Students will

collect country-specific content and

site-specific data for inclusion in the

SWERA database. (3 credits with

optional 3-credit field work and/or

lab)

G- 2.02: This course will focus on

Systems Dynamic modeling and the

System of National Accounts as tools

to assess the risks and benefits of low-

carbon investment policies to the

economies of developing countries. (3

credits with optional 3-credit lab)

Case Studies on Systems Models

U n d e r g r a d u a t e & G r a d u a t e S t u d i e s

UNEP Green Economy Report

The UNEP Green Economy Report

analyzes an investment of an average

of 2% of global GDP into ten key

sectors to stimulate the transition

towards a low carbon, resource

efficient Green Economy.

This groundbreaking global economic

report analysis utilizes Millennium

Institute's Threshold 21 software and

modelers to simulate greening of the

economy across multiple sectors.

Policies for agriculture, buildings,

energy, fisheries, forestry, industry,

tourism, transport and water sectors

are assessed for economic recovery

and growth, and job creation, while

addressing environmental challenges.

Threshold 21 (T-21) UNEP Green Economy Report available

at: http://www.millennium-institute.org/

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GROUP 4 ENERGY, ENVIRONMENT AND ECONOMICS

G-3.01: Clean, renewable energy-

based development requires project

management skills across multiple

disciplines. This course will focus on

multi-disciplinary, outcomes-based

project management training. (3

credit course with optional 3-credit

field internship)

G-3.02: This course will focus on the

writing of a scholarly thesis based

upon the “case study” method

combined with field research. (6

credit hrs. recommended)

G-3.02: This course will focus on a

multi-disciplinary approach to

leadership training for students with

prior mid-level management

experience. Students without prior

mid-level management experience

may petition for enrollment. (3 credit

course with optional 3-credit field

internship)

G-3.04: Students may elect to enroll in

individualized tutorials with faculty

approval. (1 - 3 credit hrs.)

Case Studies on Organization, Management & Leadership

S t u d e n t - C e n t e r e d E d u c a t i o n M o d e l

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I n a u g u r a l F e l l o w s h i p

The Inaugural Fellowship at Renewable Nations Institute at Virginia Intermont College (2016-2018, proposed) will feature a U.S. – China

Climate Action Education Partnership. Fellowship activities will focus on two goals: (i) Building the capacity of the Institute to deliver the

primary integrated Enabling Actions, including Sankey Diagrams, SWERA Mapping and Systems Dynamic Modeling services; and (ii)

Establishing a Capacity Building and Knowledge Sharing network in colleges and universities throughout the United States to recruit,

train and deploy study abroad, Service-learning student interns to provide core Enabling Actions to member nations of the Institute.

Enrollment in Institute, as feasible, will be determined on the percentage basis of country contributions to global carbon emissions from

the burning of fossil fuels. In 2014, the U.S. and China represented 43% of total global carbon emissions. Based on a campus residency

of 572 students, U.S.-China student enrollment target is 246 students. The Institute has access for recruitment to a network of 100

colleges and universities in China committed to collaboration for improving energy efficiency and renewable energy education under a

U.S. – China Partnership.

Chart: Global Share of CO2 Emissions from Fossil Fuels Photo: Faculty Members of Chinese University Network

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Pa s t F e l l o w s h i p A c t i v i t i e s

Photos: Project ERGAL (American University, Top Left; Middlebury College, Bottom Left;

Colegio Tecnico Ignacio Hernandez, Top Right); Student Energy Action Coalition, Bottom Right

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A d m i s s i o n & E n r o l l m e n t

Climate Action Education Fellowships under the Institute’s United Nations Energy for All Initiative (SE4ALL) Commitment will be available

for undergraduate- and graduate-level students prior to or concurrent with enrollment at a U.S.-based degree-granting college or

university.

Application for enrollment in the U.S.-China Partnership inaugural program will be accepted on a 12-month, rolling-enrollment basis.

Semester study-abroad applications will be accepted on a semester enrollment basis. Study-abroad will begin with a 10-day academic

residency on the Virginia Intermont College campus followed by the Spring or Fall semester abroad.

The Institute will rely upon established climate education action networks for enrollment and outreach consisting in aggregate of over

1,000 U.S. and international colleges and universities reaching more than 6 million Fellowship program eligible students:

Association for the Advancement of

Sustainability in Higher Education

American College & University

President’s Climate Commitment

Energy Action Coalition

Campus Climate Challenge

• 736 College and University Members

• Annual Membership Conference

• 17 Countries Represented

• 685 College & University Signatories

• College & University-based Governance

• 539 Action Campus Action Plans

• 30-Country Student Member Network

• Over 700 College & University Chapters

• 12,000 Member Bi-Annual Conference

FACULTY ADMINISTRATION STUDENTS

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C o l l e g e & U n i v e r s i t y C h a p t e r s

Image: Journal of the Green Earth Corps, Campus Outreach Publication

The Journal of the Green Earth Corps is

a 16-page newsprint publication of the

Institute. The Journal will support

development of a U.S. and international

network of college- and university-

based chapters of the Institute.

Institute chapters will provide enrollment

and outreach, and:

• Sponsor campus-based activities to

bring awareness to the goals of the

United Nations Sustainable Energy

All Initiative.

• Conduct Institute outreach activities

on campus to recruit qualified

applicants for Institute Fellowships;

• Host campus and community based

Service-learning activities in support

of the Institute’s Commitment as a

United Nations SE4ALL Partner.

The Institute’s Journal of the Green Earth

Corps is targeted to approx. 6 million

U.S students annually eligible for SE4ALL

Fellowships. Campus chapters will be

supported by an annual geospatial

lecture tour by enrolled graduate and

Undergraduate Institute Fellows.

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VALUATION

The Virginia Intermont College campus consists of approximately

10 core buildings for administrative, academic, student services,

athletic and conference facilities and numerous other structures

comprising an excess of 400,000 sq. ft. with a capacity for 572

students (double occupancy).

Total estimated (RS Means) building replacement value is $53.2

million. Less an estimated deferred maintenance of $22.9 million,

the replace value of the campus is approximately $30.3 million. A

recent appraisal values the property at $19.9 million. Restoration

of campus facilities is proposed in three Phases, as follows:

PHASE 1

Intermont Hall (dormitory), Turner Student Center (student

union), Smith Center (gymnasium, health spa and swimming

pool), Science Building (classrooms, lecture hall and laboratories),

Fine Arts Building (classrooms, performance halls), Blevins Fine

Arts Building (art studios), Harrison-Jones (auditorium) and Main,

West and East Halls (administration only) are operationally ready

with an investment of approximately $2 million to $3.5 million,

including building weatherization, for an occupancy of up to 184

students (double occupancy). This would allow a combined

residency and low-residency Full-Time Equivalent (FTE) enrollment

of up to 736 students in annually.

PHASE 2

The renovation of Hodges Hall (dormitory) and the conversion of

the Humanities Building (currently classrooms) for use as

dormitory at an RS-Means estimated cost of $5 million will add 55

double occupancy rooms for a total combined Phase 1 and 2 FTE

enrollment of 1,176 students.

Phase 2 may require additional improvements to core student

services and campus infrastructure (to be determined).

PHASE 3

J.F. Hicks Library, and major portions of Main, West and East Halls

require complete renovation for adaptive reuse and for additional

dormitory capacity (double occupancy) at an RS Means estimated

cost of $14.3 million. Phase 3 improvements will increase capacity

by 139 double occupancy rooms for a total combined Phase 1,2

and 3 FTE enrollment of 2,288 students (572 residency, 1,716 low-

residency).

FTE ENROLLMENT SUMMARY

Phase Residency Low-Residency Total FTE

#1 184 552 736

#2 110 330 440

#3 278 834 1,112

Total Combined FTE Enrollment: Phased 1-3: 2,288

C a m p u s F a c i l i t i e s

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C a m p u s P h o t o G a l l e r y

Photos: West Hall and Main Hall (Top Left) Worrell Fine Arts Theater (Top Right) ; Science Building Lecture Hall (Bottom Left);

Intermont Hall, 92 room resident hall (Bottom Right)

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B u i l d i n g R e s t o r a t i o n C o s t s , P h a s e 1 & 2

PHASE 1

Bldg# Name Year-Up Use Sq. Ft. #-Rms TL-Occ Est-Value Def-M/Imp Adj-Value

1 Harrison-Jones 1958 Auditorium 25,700 - - 3,152,700 (385,500) 2,767,200

2 Worrell Fine Arts 1960 Classrooms, Theater 19,267 - - 3,129,750 (289,005) 2,840,745

3 Blevins Fine Arts 1995 Classrooms / Studio 8,700 - - 2,064,500 (130,500) 1,934,000

4 Science Building 1962 Classroom, Laboratory 27,202 - - 7,319,375 (136,010) 7,183,365

5 West Hall (a) 1894 Kitchen - Dinning 6,118 - - 868,950 (397,670) 471,280

6 Main Hall (a) 1894 Offices 13,382 - - 1,352,250 (200,730) 1,151,520

7 East Hall (a) 1894 Offices 17,313 - - 2,281,950 (259,695) 2,022,255

8 Intermont Hall 1965 Dormitory 54,100 92 184 3,152,700 (811,500) 2,341,200

9 Turner Center 1959 Student Services 13,242 - - 1,810,800 (198,630) 1,612,170

10 Smith Gym 1931 Student Services 16,714 - - 1,810,800 (334,280) 1,476,520

Subtotal: 201,738 92 184 26,943,775 (3,143,520) 23,800,255

P1 Infrastracture Deferred Maintenance (320,362)

Totals 26,943,775 (3,463,882) 23,479,893

PHASE 2

Bldg# Name Year-Up Use Sq. Ft. #-Rms TL-Occ Est-Value Def-M/Imp Adj-Value

11 Hodges Hall 1928 Dormitory 20,268 37 74 3,788,550 (3,157,125) 631,425

12 Humanities 1939 Dormitory 9,078 18 36 1,903,500 (1,586,250) 317,250

Subtotal: 29,346 55 110 5,692,050 (4,743,375) 948,675

P2 Infrastracture Deferred Maintenance (320,362)

Total: 5,692,050 (5,063,737) 628,313

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S i t e M a p

Virginia Intermont College Campus Map

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13

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12

14 15

16

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To Physical

Plant Bldg.

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Demolition

24

B u i l d i n g R e s t o r a t i o n C o s t s , P h a s e 3

PHASE 3

Bldg# Name Year-Up Use Sq. Ft. #-Rms TL-Occ Est-Value Def-M/Imp Adj-Value

13 J.F. Hicks 1941 Library, Data Center 14,100 - - 2,963,250 (2,469,375) 493,875

5 West Hall (b) 1894 Dormitory 18,354 33 66 2,727,900 (2,273,250) 454,650

6 Main Hall (b) 1894 Dormitory 40,146 42 84 5,147,550 (4,289,625) 857,925

7 East Hall (b) 1894 Dormitory 17,313 46 92 2,613,600 (2,178,000) 435,600

6 Admissions (a) 1894 Office 7,084 - - 1,251,000 (938,250) 312,750

6 Admissions (b) 1894 Dormitory 7,084 18 36 1,476,000 (1,230,000) 246,000

14 Alumni House 1920 Guest House 4,299 - - 613,800 (61,380) 552,420

15 Arnold House 1945 Staff Housing 2,800 - - 306,900 (199,485) 107,415

16 President's House 1930 Staff Housing 5,000 - - 676,350 (33,818) 642,533

17 Intermont House 1920 Staff Housing 1,000 - - 122,760 (79,794) 42,966

18 Old Manse 1930 Classroom 1,920 - - 204,600 (112,530) 92,070

19 Physical Plant Bldg. 1965 Offices 2,016 - - 333,900 (185,500) 148,400

20 Campus Steam Plant 1920 Energy Services 3,600 - - 2,106,900 36,000 2,142,900

Subtotal: 124,716 139 278 20,544,510 (14,015,007) 6,529,504

P3 Infrastracture (320,362)

Totals: 20,544,510 (14,335,368) 6,209,142

TOTALS, PHASES 1-3:

Sq. Ft. #-Rms TL-Occ Est-Value Def-M/Imp Adj-Value

Phase 1 201,738 92 184 26,943,775 (3,463,882) 23,479,893

Phase 2 29,346 55 110 5,692,050 (5,063,737) 628,313

Phase 3 124,716 139 278 20,544,510 (14,335,368) 6,209,142

Total: 355,800 286 572 53,180,335 (22,862,987) 30,317,348

25

C a m p u s P h o t o G a l l e r y

Photos: Blevins Art Center, Top Left; Science Building, Top Right; Harrison-Jones Auditorium, Bottom Left; Alumni House, Bottom Right

26

R e s t o r a t i o n P l a n n i n g

STUDENT-CENTERED

To the greatest extent possible, restoration planning for the

Virginia Intermont College will be conducted under a student-led,

project-based experiential learning program. This strategy will

reduce construction costs, generate additional income for the

College and provide for on-site development of Institute

programs in fulfillment of SE4ALL commitments.

The Institute’s founder, Allan Baer, is a licensed general contractor

with four decades of experience in developing project-based

experiential learning programs in historic preservation, and

energy efficiency and renewable energy technologies. Mr. Baer

has developed in excess of $100 million in project value, including

Project ERGAL, utilizing a variety of project-based experiential

learning program models.

PROJECT PHASING – PHASE 1 GOALS

Phase 1 campus restoration planning calls for the repurposing of

core facilities with minimal investment to restore revenue for the

College. This will be achieved though a blended revenue model

to include tuition and fees, and the management of a national

capital campaign in support of the Institute’s SE4ALL

commitment. This strategy calls for:

• Utilizing Intermont Hall for residency and low-residency

programs for up to a FTE enrollment of 736 students;

PHASE 2

• Improving the Turner Center to provide for full-service

kitchen and dining services;

• Repurposing the Smith Center Gymnasium and Turner

Center to include dual use as a student convention center;

• Operating a data services center at the Science Building to

provide SE4ALL commitment services;

• Managing a national capital campaign out of the Morrell

Fine Arts Center; and

• Conducting regional outreach and fund raising through the

sponsorship of popular cultural events in the Harrison-Jones

Auditorium.

Phase 1 operational funding is proposed through a combination

of local investors (seed capital), followed by a securities offering

for Phase 2 and Phase 3 funding under Regulation A+ (exempt)

or Regulation C (registered) with the Federal Securities and

Exchange Commission in an amount not-to-exceed $50 million.

Use of funds by Year 2 include an estimated $3.4 million in

deferred maintenance expenses, $15.6 in debt relief, $6 million in

operating costs and a capital reserve to meet accreditation

requirements. Prior to Phase 1 implementation, Intermont L3C will

seek a preliminary inducement from the City of Bristol for $50

million in tax-exempt Industrial Revenue Bond (IRB) financing.

27

Tr a n s i t i o n t o a Wo r k C o l l e g e

Assuming the sale of up to $50 million in Regulation A+ securities

by Intermont L3C in Year-2, approximately $25 million will be

utilized to develop and finance SE4ALL High Impact Opportunity

(HIO) energy efficiency and renewable energy pilot projects under

a performance-based Energy Services Contract (ESCO) model.

Project development support services will be provided by

students of the College (SE4ALL Fellows), and will be modeled

after the U.S. Department of Energy (DOE) Industry Assessments

Centers (IACs) program.

Additionally, to support the transition to a federally sponsored

Work College, Intermont L3C energy services contracts will

include the provision for royalty payments to the College under a

Payback+5*5 clause. Payback+5*5 refers to 5% of the avoided

cost savings for 5 years after project payback. Payback+5*5 will

be applied to both domestic and international SE4ALL energy

efficiency and renewable energy projects, as viable.

Based on pilot project outcomes, Intermont L3C will establish a

permanent SE4ALL investment fund totaling $300 million to

assure adequate Work College revenue. (See Part 3: Addendum.)

VENUE RENTAL INCOME

The College will continue its rental offerings, including Harrison-

Jones Auditorium (at right), to the greater Tri-cities Metropolitan

Region, and will develop new conference markets aligned with its

core mission to transition to a Federally sponsored Work College.

PHASE 2

28

Photo: Harrison-Jones Auditorium, Seating Capacity 982

(Exterior, above; Interior, below)

C o n t a c t I n f o r m a t i o n

For the College:

Art Rebrovick

Interim President & Restructuring Officer

2323 21st Avenue South, Suite 500,

Nashville, TN 37212

615-352-3800 ext. 231

artrebrovick@compassexecutives.com

For Intermont, L3C:

Allan E. Baer

President & Managing Member

39 Beacon Hill

Chelsea, Vermont 05038

802.279.7250

abaer@solarquest.us

Preliminary pro forma available upon request.