DFL Reps. Ann Lenczewski and Paul Marquart say property tax payers and local governments are losing out so the state can save more than $500 million.
Edina could become first Minnesota city to use new financing tool for energy projects
The suburb is looking into what's known as the Property Assessed Clean Energy (PACE) program, which allows a local government to issue bonds on behalf of building owners who want to finance energy projects. Building owners then pay for the projects through surcharges on their property taxes. In effect, the energy savings finance the projects.