Low-interest energy loans available for Minneapolis multi-family residential properties

A city-wide, low-interest loan program to provide financing for energy efficiency upgrades is available for large multi-family residential properties in Minneapolis. The loans for structures of four stories or more containing more than 10 dwelling units are being established through the City's Department of Community Planning and Economic Development.

The program will help remove financial barriers and allow property owners to obtain the capital needed to make energy efficiency improvements. Loans will be structured in such a way that the energy savings would fully or substantially offset the debt service on the loan. The loans would target significant energy system upgrades including boilers, water heating and distribution systems, and control systems.

This loan program is separate from the City's other financing programs and cannot be used in conjunction with any other Small Business Assistance Programs offered by the City. To review minimum eligibility requirements, information on loan terms and conditions, and eligible uses visit Multi-Family Housing Energy Efficiency Loan Program.

For more information, contact Jessica Green at (612) 673-5232.

Published Aug 10, 2010