USDA Rural Development - NADO · USDA Rural Development Mission Statement Pennsylvania To increase...
Transcript of USDA Rural Development - NADO · USDA Rural Development Mission Statement Pennsylvania To increase...
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USDA Rural Development
http://www.rurdev.usda.gov/pa
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USDA Rural Development Mission Statement
Pennsylvania To increase economic opportunity
and improve the quality of life for all rural Americans
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Rural Development Improves the Quality of Life for Rural Americans
Housing and Community Facilities Programs finances decent, affordable housing as well as rural community loan programs
Business and Cooperative Programs includes cooperative development and technical assistance, plus business development financial programs
Utilities Programs offers water and sewer programs along with telephone and electric programs
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COMMUNITY FACILITIES LOAN PROGRAM
Purpose: To provide loans to construct or improve essential community facilities for public use in rural areas and towns.
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WHO IS ELIGIBLE FOR COMMUNITY FACILITIES
ASSISTANCE?
Public bodies
Nonprofit organizations
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• Primarily serve rural areas – city or town with population of 20,000 or less
• Provide certification they are unable to obtain other credit
• Have legal authority to own, construct, operate, and maintain the facility, issue security for and repayment
of the debt
ELIGIBLE APPLICANTS
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GUARANTEED LOANS
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COMMUNITY FACILITIES GUARANTEED LOANS
• All loans eligible for up to 90% guarantee against loss
• Interest rates and terms are negotiated between lender and borrower.
• No maximum loan limits; amount is based on project feasibility, reasonable project costs and cash-flow
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COMMUNITY FACILITIES GUARANTEED LOANS
• Lender uses own promissory notes, loan agreements and security instruments
• Flexible terms allow lenders to extend long term loans to their customers
• Only a one time 1% guarantee fee charged and may be included in the loan
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COMMUNITY FACILITIES GUARANTEED LOANS
ELIGIBLE LENDERS
• Any Federal or State chartered Bank or Savings and Loan Association
• Any Mortgage Company – part of Bank holding company
• Credit Unions • Banks for Cooperatives, State Bond Banks
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COMMUNITY FACILITIES DIRECT LOANS
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COMMUNITY FACILITIES DIRECT LOANS
Loans made directly to borrowers
Borrower must certify they are unable to obtain credit elsewhere
No maximum loan amount-based projects costs/financial feasibility
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COMMUNITY FACILITIES DIRECT LOANS
INTEREST RATES------ Fixed for life of loan Based on median household income of
area being served Range Between 3.5% - 4.5%
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COMMUNITY FACILITIES DIRECT LOANS
• MAXIMUM TERMS
- 40 years/fully amortized - Lifetime of facility - State/Local Laws
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COMMUNITY FACILITIES GRANTS
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COMMUNITY FACILITIES GRANTS
• Small program
• Grant eligibility determined by median household income and population
• Grant amount based on total project costs and financial feasibility
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EXAMPLES OF ESSENTIAL COMMUNITY FACILITIES
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AIRPORT HANGAR BRIDGES OFFSTREET PARKING SIDEWALKS STREET IMPROVEMENTS SPECIAL TRANSPORTATION EQUIPMENT
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LIBRARY MUSEUM PUBLIC SCHOOL CHARTER SCHOOL STUDENT HOUSING
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ASSISTED LIVING CENTERS NURSING HOME DENTAL CLINIC REHABILITATION CENTERS HOSPITALS
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St. Johns, Mars PA
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COMMUNICATION CENTER FIRE DEPARTMENT FACILITY CIVIL DEFENSE BUILDING FIRE TRUCKS POLICE STATION MULTI-SERVICE FIRE/RESCUE BLDG. JAIL
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Slippery Rock Borough PD
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• ADULT DAY CARE CENTER • CHILD DAY CARE CENTER • COURTHOUSE • MUNICIPAL BUILDINGS • PUBLIC MAINTENANCE BUILDING • COMMUNITY CENTER
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Deemston Borough Building
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Utilities Programs
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Water & Waste Disposal Loans & Grants Water & Waste Disposal Guarantees Solid Waste Management Grants Electric & Telecommunications (REA) Distance Learning & Telemedicine (DLT)
http://www.rurdev.usda.gov/rus
Utilities Programs
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Eligibility Criteria
Public Entities - Townships, Boroughs, Authorities Non-profit corporations/associations with community-based membership Rural areas - any area not in a city or town with a population in excess of 10,000 inhabitants.
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Predevelopment Planning Grants
Medium Household Income must be less than 80% of Pennsylvania’s MHI Maximum Amount - $15,000 RD must fund the project
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Authorized Loan/Grant Purposes
Construct, repair, improve, expand, or otherwise modify rural WATER supply
and distribution lines including distribution lines, hydrants, pumping stations, & water tanks
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Authorized Loan/Grant Purposes
Acquire water supply or water rights (i.e.: wells, reservoirs)
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Authorized Loan/Grant Purposes
Construct, repair, expand, improve or otherwise modify WASTE collection, pumping, treatment, or other disposal facilities
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Authorized Loan/Grant Purposes
including storm sewer collection lines, retention ponds, culverts, wetlands
Construct, repair, improve, expand, or otherwise modify STORM WATER systems
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Authorized Loan/Grant Purposes Related soft costs (e.g.: engineering, legal, ROWs, land acquisition, interest, O&M expenses)
Refinancing, if financially feasible and as a small portion (<50%) of a project.
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Lower Ten Mile Phase I Pump Station
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Center West Joint Sewage Authority.
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www.rurdev.usda.gov/pa
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