Clean energy loan program extended to Goodhue County
The Goodhue County Board on Nov. 7 voted to approve a joint powers agreement with the St. Paul Port Authority to help facilitate clean energy loans for buildings within Goodhue County.
As part of this agreement, Goodhue County is now able to apply an assessment to eligible properties that have been approved for a clean energy loan by the Minnesota Property Assessed Clean Energy Program. The proceeds of this assessment are then used to repay their loan over time.
Three businesses in Kenyon have already been accepted for MinnPACE loans. The current program has issued loans to these businesses at 4.5 percent interest payable over 10 years.
"I just see no negative to it," District 2 Commissioner Brad Anderson said Nov. 7 before the motion passed. "It's just another tool for businesses to use to develop these clean energy ideas."
The board has requested an annual report back to track the program going forward.