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RURAL DEVELOPMENT KENTUCKY Thomas G. Fern State Director Phone: 859/224-7300 Water and Environmental Programs (WEP) Water and Environmental Programs Objective: Provide loan and grant funds to construct, enlarge, extend or otherwise improve water and waste systems, resulting in reasonable user costs for rural residents, rural businesses, and other rural users. Water and Environmental Programs Eligible Applicants: Public bodies: Cities Districts (Water & Sewer) Authorities Commissions Not-for-Profit Corporations Associations Private Corporations Water and Environmental Programs Rural Areas PROJECTS financed by Rural Development must be located in rural areas, defined as any area not in a city or town with a population in excess of 10,000, according to the latest decennial Census of the United States. FACILITIES may be located in non-rural areas; however, Rural Development funds may be used to finance only that portion of the facility serving rural areas. Water and Environmental Programs Eligible Purposes: Construction Water lines Sewer lines Tanks Treatment facilities Land & Rights Other associated costs Water and Environmental Programs Types of financial assistance: Direct loan Grant Water and Environmental Programs Rates and Terms Interest rates set quarterly based on current market index Loan repayment period shall not exceed the useful life of the facility, state statute, or 40 years from the date of the bond or note, whichever is less Water and Environmental Programs 3-Tiered Interest Rates Based on current market index Poverty Rate Intermediate Rate Market Rate 60% of the current market index 80% of the current Current market index market index (Subject to DOW certification) Current rate 2.375 % Current rate 3.250 % Current rate 4.000 % Community Facilities (CF) Community Facilities Objective: Develop essential community facilities for health, public safety, public services, and other type facilities for all rural Americans Community Facilities Eligible Applicants: Public bodies: Cities Counties Districts Other political subdivisions of the State/Commonwealth Not-for-Profit Corporations Private Corporations Community Facilities Facilities must be located in rural areas, defined as any area in any city or town with a corporate population not in excess of 20,000 inhabitants, according to the latest decennial Census of the United States. Community Facilities Eligible Purposes: Health Care: Clinics Hospitals Public Services: Nursing Homes Adult day care centers Etc. Child care centers City Halls Public Safety: Courthouses Police and fire stations Community Centers Police cars and fire trucks Etc. Rescue Vehicles Jails Etc. Community Facilities Types of financial assistance: Direct loan Grant (Very limited funds) Guaranteed Loan Combination direct / guaranteed loan Community Facilities Rates and Terms Interest rates set quarterly based on current market index (currently 4.000 %) Loan repayment period shall not exceed the useful life of the facility, state statute, or 40 years from the date of the bond or note, whichever is less Applications • Applications are accepted year-round • Loan and/or grant requests are approved as funds are available • Complete applications should be submitted to the local Rural Development Area Office for processing USDA Initiatives Public Library Initiative Who can apply: •Not-For-Profit Organizations •Public Bodies Possible projects include: •Building Purchase •Building Expansion •Facility Improvement •Purchase Equipment, including Computers BROADBAND PROGRAM The Broadband Loan program provides loans for funding the costs of construction, improvement, and acquisition of facilities to provide broadband service to eligible rural communities. Single Family Housing Program (SFH) U S D A •Homeownership has long been a cornerstone of American culture. •In addition to meeting one of life's basic needs, owning your own home promotes personal and economic security and encourages a sense of pride in one's community. •However, many rural residents have historically encountered many obstacles to homeownership ranging from a lack of affordable credit opportunities to a lack of suitable housing alternatives. •Furthermore, many existing residences consist of older housing stock that has not been adequately maintained or has outlived its useful life. As a result, many rural residents find this portion of the American dream beyond their reach and are forced to live in unsuitable housing conditions. •Rural Development's Single Family Housing programs were established to help address this situation by expanding credit opportunities for lower income rural residents. 21 The USDA housing programs assist very low, low and moderate income persons buy, build or rehabilitate housing in rural areas. We have helped over 3,000 families purchase a home, utilizing $325 million and rehabilitated homes for 500 families, this year. 1. 502 Direct program assist very low and low-income persons purchase homes thru our USDA Rural Development Office. 2. 502 Guaranteed program assist applicants working with lenders purchase homes. This program increases the availability of affordable credit opportunities. 3. 504 loans and grants assist eligible rural very low income homeowners to improve or modernize their homes. The true strength of the America is the heart and souls of our citizens. One of the most exciting things that can happen to a person is to purchase a home. When you own something you call your own, you have a vital stake in the future of our nation. Your home is building EQUITY in the FUTURE! Which makes sure your family has a better future. Business-Cooperative Service Program (BCP) Business & Industry (BI) Guaranteed Loan Program Provides financial assistance to improve, develop, or finance business, industry, and employment opportunities. • Eligible applicants include any legal entity, including a cooperative organization, corporations, individuals, public body and private organizations (profit or non-profit) • Citizens of the U.S. or reside in the U.S. after being legally admitted. • At least 51% U.S. ownership or reside in the U.S.. after being legally admitted. • Located in a rural area (Less than 50,000 population) REAP Rural Energy for America Program (Section 9007 - 2008 Farm Bill) Grants - Limits • Grants request must not exceed 25% of the eligible project costs – Renewable Energy: • Minimum grant request $2,500 • Maximum grant request: $500,000 • If request is over $50,000, regulation requires a project-specific feasibility study prepared by a qualified independent consultant – Energy Efficiency: • Minimum grant request $1,500 • Maximum grant request: $250,000 • If total project costs are over $50,000, regulation requires an energy audit. Less than $50,000, an Energy Assessment is required. Guaranteed Loans - Limits • Guaranteed loans are limited to 75% of the total eligible project cost • Maximum guarantee is $10 million • Guaranteed Loan/Grant combination limited to a total of 75% of the total eligible project cost (25% Grant and 50% Guaranteed Loan). Intermediary Relending Program • 1% - 30 year, direct loans to establish revolving loan funds for business and community development projects. (< 25,000 population) • Eligible intermediaries include private non- profit corporations and public bodies like counties • Local match required. ($1 per $4 requested) • National competition for funds. Rural Economic Development Loan and Grant Program • RECC’s and telephone companies apply for zero interest loans or grants to promote rural economic development and job creation projects. (< 2,500 population has priority) • 0% loans are passed through to business or ultimate recipient. Grants used to establish revolving loan funds. • National competition for funds; $450,000 (loan) and $200,000 (grant) maximums. Rural Business Enterprise Grants • Grants to facilitate small and emerging business enterprises. (< 50,000 population) • Grants used either to establish revolving loan funds, technical assistance or site development. • Eligible applicants are public bodies and private, non-profit corporations. • National competition for funds. Typical award range from $10,000 - $100,000. Rural Business Opportunity Grants • Grants to provide technical assistance for business development or conduct economic development planning in rural areas. (< 50,000 population) • Public bodies, cooperatives and private nonprofits are eligible. • National competition for funds. • Maximum award is $50,000. Value Added Producer Grants • Grants for planning or working capital. (no population limit). • Independent producers, farmer, ag producer group or majority - controlled producer based business venture are eligible. • National competition for funds. • Maximum award was $500,000. Matching funds required. Rural Microenterprise Assistance Program • Provide direct 2% loans for up to 20 years to microlenders (Non-profits, public institution of higher education, or Indian tribes) for the purpose of providing fixed interest rate microloans ($50,000) to rural microentrepreneurs or startup and growing microenterprises; and, • Eligible microlenders will also automatically receive technical assistant grants to provide technical assistance and training for microentrepreneurs who received or are seeking a microloan under this program; or, Vernon C. Brown Community Programs Director • Email: – email@example.com • Phone: – 859/224-7336 Linda A. Chadwell Single Family Housing Program Director • Email: – Linda.firstname.lastname@example.org • Phone: – 859/224-7322 Jeffery L. Jones Business-Cooperative Service Program Director • Email: – Jeff.email@example.com • Phone: – 859/224-7435 WEBSITE http://www.rurdev.usda.gov/ky Rural Development Area Offices • Mayfield – 270/247-9525 X4 • Shelbyville – 502/633-3294 X4 • Madisonville – 270/821-4430 X4 • Williamstown – 859/824-7171 • Columbia – 270/384-6431 X4 • Morehead – 606/784-6447 X4 • Elizabethtown – 270/769-1555 • London – 606/864-2172 X4 • Bowling Green - 270/842-1146 X4 • Hazard – 606/439-1378 Questions? Comments?
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