Do Energy Codes apply to replacing HVAC equipment?

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Does a condo bldg (400,000 sf, 28 flrs, built 1985, Minneapolis) have to comply with the energy code when replacing the plant equipment? The residential units (250,000 sf) have WSHPs which is the owner's responsibility. It is proposed to replace the supplemental cooling tower & boiler and upgrade the controls serving the unit HPs and the systems & equipment serving 150,000 sf of the common (indoor pool, fitness & business center, enclosed garage, etc.. The extent of replacement can be gauged by its estimated cost of $720,000. Does a project of this size qualify for Energy Savings Performance Contracting?
Varkie Thomas

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