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County to consider PACE assessment request for Woodland Property; assessment would be paid via property tax special assessment
Summary
A PACE (Property Assessed Clean Energy) application from Woodland Property LLP seeks county approval to place a special assessment of about $62,000 on the property to finance energy-efficiency improvements; the county does not front financing and the St. Paul Port Authority administers the program.
County staff presented an application and draft resolution to allow a Property Assessed Clean Energy (PACE) assessment for Woodland Property LLP. The application is being advanced through the Minnesota PACE program, which the county agreed to facilitate under a 2016 joint-powers agreement.
County staff explained PACE allows commercial property owners to finance energy-efficiency upgrades with 100% financing paid back via a special assessment on the property tax roll. The St. Paul Port Authority administers financing and will provide funds; the county—s role is to place the special assessment on the property tax roll and remit collections to the Port Authority.
Key application details presented - Assessment amount: approximately $62,000 (assessment exact amount in packet). - Assessment start date: contemplated for June 1, 2026. - Amortization: 20 years. - Interest rate presented: 5.5% (as negotiated by the program administrator).
County staff said there is minimal county financial exposure: the Port Authority and program financing sources provide funds upfront and the county—s administrative role is limited to placing and collecting the assessment. The resolution to facilitate the assessment appears on the consent agenda for a future meeting.
Why it matters: PACE assessments enable commercial property owners to install energy-efficiency measures without upfront capital and can improve building performance; the county is acting as a facilitating jurisdiction rather than a financier.
No formal board action was recorded in the work session presentation; the item is on the consent agenda for later action.
