Parkwood Place in Mountain Lake, MN provides assisted living and senior care options for elderly adults. They recently utilized the Rural Minnesota Energy Board’s Property Assessed Clean Energy—or PACE—program to finance energy efficiency upgrades in their facility.
Through PACE, energy-saving measures pursued by Parkwood Place received project financing and will be repaid as a separate item on their property tax assessment for a set period. PACE eliminates the burden of upfront costs by providing low-cost, long-term financing.
We chatted with Bill Freitag, President of JAND Development who owns Parkwood Place, to learn more about their experience and the work they accomplished using PACE.