Environmental Sustainability Clinic to Discuss PACE Financing
MARCH 22, 2010—The University of Minnesota Law School’s Environmental Sustainability Clinic and the Environmental Law Society are offering a review of Property Assessed Clean Energy (PACE) financing for Minneapolis homeowners on April 5. The program will feature a presentation on the Clinic’s research findings and the effectiveness of PACE financing, as well as a discussion of other programs that could be implemented.
In PACE financing programs, a governmental unit sells bonds to acquire funds for loans to homeowners and commercial entities to pay for renewable energy systems or energy-efficiency improvements. The loans are repaid via a long-term, voluntary special assessment on property taxes. Currently, PACE financing programs are active in only a few cities around the country. However, several cities are in the process of developing programs, California has a statewide program in the works, and the White House has been promoting a policy framework.
This free presentation will assess the potential benefits and concerns of the PACE model for cities and local governments. Law students, members of the University community, and interested members of the general public are welcome. Presenters welcome feedback on their work, and future drafts of the Clinic’s report may include attendee suggestions.
The PACE Financing Presentation will be held on April 5, 2010, from 12:15-1:10 p.m. in Room 50 of the Law School.