WASHINGTON, D.C. – December 30, 2008 – (RealEstateRama) — Senator Chuck Grassley announced today that the U.S. Department of Agriculture’s Office of Rural Development awarded a grant and two loans totaling $189,000 to Iowa through the Community Facility Direct Loan program and the Water and Waste Disposal Loan and Grant program.
“These funds help give rural Iowa the ability to bring important services and projects to communities in less populated areas of the state,” Grassley said. “These funds will help provide those needed services to these rural communities.”
The Community Facility Direct Loan program helps develop essential community facilities in rural areas and towns with a population under 20,000.
The Water and Waste Disposal Loan program helps develop water and waste disposal systems in rural areas and towns with a population under 10,000. The Water and Waste Disposal Grant program helps reduce water and waste disposal costs to a reasonable level for rural users up to 75 percent of eligible project costs.
The funds will be distributed as shown below.
Lucas received a $44,000 loan through the Community Facility Direct Loan program. The funds will be used to help purchase a new tractor to maintain city streets and property. The loan is for 20 years at 4.5 percent interest.
Sherrill received a $72,000 grant and a $73,000 loan through the Water and Waste Disposal Loan and Grant program. The funds will be used to help complete an upgrade to the east lagoon facility. The loan is for 40 years at 2.75 percent interest.
