DEPARTMENT: Environmental Resources
FILE TYPE: Consent Action
TITLE
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Certification Of Property Assessed Clean Energy Charges For Energy Improvements On Properties In Cities Of Lakeville, West St. Paul, Burnsville, And Eagan
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PURPOSE/ACTION REQUESTED
Certify Property Assessed Clean Energy (PACE) charges for energy improvement projects.
SUMMARY
By Resolution No. 17-144 (March 21, 2017), the Dakota County Board of Commissioners approved a joint powers agreement (JPA) with the Port Authority of the City of Saint Paul (Port Authority) for the implementation of the PACE program within Dakota County. Through the JPA, the Port Authority is responsible for implementing and administering the PACE program in Dakota County and providing financing for energy improvements to eligible applicants. The County provides for the impositions of special assessments pursuant to Minn. Stat. ? 216C.435 and 216C.436 and Chapter 429 as needed in connection with that program.
To facilitate and encourage the financing of energy improvements on the property so benefitted, the Port Authority has approved the application of and has requested PACE special assessments on the following properties in Dakota County:
Property Owner: Coventry Properties of Lakeville, LLC
Parcel Number: 22-44340-02-010
Assessment: $2,460,000.00
Interest Rate: 5.58%
Finance Period: 20 years
Accrual Date: 1/1/2023
Property Owner: Coventry Properties of Burnsville, LLC
Parcel Number: 02-72830-01-010
Assessment: $700,000.00
Interest Rate: 5.58%
Finance Period: 20 years
Accrual Date: 1/1/2023
Property Owner: Coventry Properties of West St. Paul, LLC
Parcel Number: 42-73150-01-010
Assessment: $700,000.00
Interest Rate: 5.58%
Finance Period: 20 years
Accrual Date: 1/1/2023
Property Owner: WSE-Gain Propereties, L.L.P.
Parcel Number: 10-22490-01-020
Assessment: $390,000
Interest Rate: 6.50%
Finance Period: 20 years
Accrual Date: 1/1/2023
After the imposition of special assessments, the County shall c...
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