(Submitted by Sherb Co Economic Development)
Sherburne County is excited to announce a partnership with the St. Paul Port Authority to administer the Property Assessed Clean Energy program (PACE). PACE allows property owners to borrow money from newly established municipal financing districts to finance energy retrofits (efficiency and renewable energy measures). The property owners then repay the loan through an annual special assessment on their property tax bill. Interested property owners evaluate measures that achieve energy savings and receive 100% financing which is repaid over time up to 20 years.
PACE is a financing tool used to assist commercial and industrial businesses (including agri-business) and multifamily housing properties with 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. Dan Weber (contact person for Sherburne County Economic Development) said: ”Sherburne County is interested in providing opportunities for our businesses to remain competitive in today’s economy. This is one tool that can assist in reaching that objective.”
Sherburne County is committed to helping businesses from all sectors find the resources they need to thrive. Interested businesses should contact any of the following resources for more information or visit www.co.sherburne.mn.us:
• Becker Community Development Director, Amanda Fiedler, 763-261-4302
• Big Lake Economic Development Manager, Heidi Steinmetz, 763 263-2107 ext 233
• Elk River Economic Development Director, Brian Beeman, 763 635-1042
• Sherburne County Economic Development Specialist, Dan Weber, 763-765-4901
• Princeton Community Development Director, Carie Fuhrman, 763 389-2040
• Zimmerman City Administrator, Randy Piasecki, 763 856-4666 ext 24
• St. Paul Port Authority Vice President of Finance, Peter Klein, 800-328-8417
