Hopkins property and business owners interested in cutting energy costs through efficiency improvements and renewable energy upgrades (such as solar panels, HVAC upgrades, rainwater harvesting systems, etc.) now have a solution to help finance those projects.
The City of Hopkins has partnered with the Saint Paul Port Authority to establish a Property Assessed Clean Energy (PACE) program to support qualified projects. The Saint Paul Port Authority, which will administer the PACE Program, has experience financing energy efficient projects throughout the state of Minnesota.
- Religious institutions
- Residential multi-unit housing (minimum of 4 units)
Rates & Terms
- Interest rates are typically below 5% for terms of less than 10 years
- Loans can be up to 15-year terms
- 100% financing, with a limit up to 20% of the assessed property value
- Loans are repaid through a special assessment on property taxes
PACE Application available from the Saint Paul Port Authority website
For More Information
For more information about the City of Hopkins PACE program and how it might help your business, please contact the Saint Paul Port Authority or the City of Hopkins.