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EECBG Business Energy Efficiency Revolving Loan Program

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As required under the American Recovery and Reinvestment Act of 2009, see our Federal Report (XML) for this project.

Dollars Awarded

$555,778

Project Status

Fully completed

Project Description

Energy Efficiency Business Revolving Loan Program provides financing to Minneapolis businesses to improve their facility in ways that would decrease the business's overall impact on the environment. The City is working in participation with the Center for Energy and Environment to provide loans in the amount of up to $75,000 to finance energy efficiency improvements.

Funding Program

Data not yet available.

Responsibility for Implementation

Community Planning and Economic Development

Funding Agency

Data not yet available.

Dollars Leveraged

$1,100,000

Dollars Leveraged Description

For each project financed, there will be other funding sources such as bank financing, Xcel Energy rebates and other CDC financing provided. The amount of the project to be funded after rebates are calculated and energy savings reflected is estimated to be about 40% of the total project cost.

Dollars Requested

$526,960

Projected Jobs Created

25

Award Type

Grant

Sub-recipient Names

Center for Energy and Environment

Vendor Names

No vendors have been contracted to date.

Recovery Funds Spent to Date

$555,778

Last updated Mar. 14, 2014