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Property Assessed Clean Energy <br />Program (PACE) <br />Contact us <br />The Property Assessed Clean Energy (PACE) program is a way to finance energy <br />efficiency and renewable energy retrofits to eligible non-residential properties. PACE <br />overcomes challenges that hinder energy efficiency projects by eliminating up-front <br />costs, providing low-cost, long-term financing, and making it more efficient for building <br />owners to transfer repayment obligations to a new owner upon sale. Interested property <br />owners and their contractors evaluate measures that achieve energy savings and <br />receive 100 percent financing, repaid as a property tax assessment for up to 20 years. <br />On November 10, 2015, the Ramsey County Board designated the Saint Paul Port <br />Authority as the County’s implementing entity for the PACE program. <br />Process, eligibility and requirements <br />Applicants must be: <br />• The legal owner of the property and all of the legal owners of the property must agree to <br />participate. <br />• The interested property owner must be current on any existing mortgage and the property <br />owner must not have defaulted on the deeds of trust. <br />• Property must not be subject to any involuntary liens or judgments, not be delinquent on <br />property taxes <br />• The property owner must not be in bankruptcy. <br />Saint Paul Port Authority (SPPA) will perform a thorough credit analysis and <br />applications are approved by the SPPA’s Credit Committee prior to the SPPA <br />submitting an assessment request to the county. Following review by SPPA, SPPA <br />requests the county apply a special assessment and collect repayment on property tax <br />bills on behalf of the SPPA. Loan payments for PACE OF MN projects cannot exceed <br />20 percent of the property’s assessed value. <br />The Ramsey County Board is required to adopt by resolution each assessment. The <br />assessment stays with the property in the event of a sale. The special assessment