$241,000 in Loans and Grants to Iowa
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$241,000 in Loans and Grants to Iowa

WASHINGTON, DC – August 13, 2009 – (RealEstateRama) — Senator Chuck Grassley today announced that the U.S. Department of Agriculture, Office of Rural Development has awarded a loan of $141,000 and a grant totaling $100,000 to Truro through the Community Facility Loan and Grant Program.

“This funding will help Truro make improvements to its fire station,” Grassley said.

Truro will use the money to add an approximately 1900 square foot addition to the existing fire station, replace the existing steel siding to match the addition, and reinsulate the existing building to improve energy efficiency.  The loan will be for 20 years at 4.375 percent interest.  Madison County was declared a Presidential Disaster area for community assistance.

The Community Facilities Loan Program funds may be used to construct, enlarge, or improve community facilities for health care, public safety, and public services.  This can include costs to acquire land needed for a facility, pay necessary professional fees, and purchase equipment required for its operation in rural areas and towns of up to 20,000 in population. 

The Community Facility Grant program provides grants to assist in the development of essential community facilities in rural areas and towns of up to 20,000 in population.