Through partnership with the Rural Minnesota Energy Board, UMVRDC administers the Property Assessed Clean Energy program which assists property owners with financing improvements that substantially increase energy efficiency. PACE allows businesses to make these fixture improvements without the up-front capital outlay. Costs for the improvements are paid back through a special assessment on their taxes. The increase in property taxes is offset by the decrease in energy costs so that the business sees no change in the bottom line.
Who is eligible?
What can funds be used for?
What are the terms of the loan?
What is the application timeline?
