USDA AWARDS LOANS AND GRANTS TO BUILD RURAL, MULTI-FAMILY RENTAL PROPERTIES

USDA AWARDS LOANS AND GRANTS TO BUILD RURAL, MULTI-FAMILY RENTAL PROPERTIES

Washington, DC – January 09, 2012 – (RealEstateRama) — Agriculture Under Secretary for Rural Development Dallas Tonsager today announced that USDA has awarded loans and grants to 12 organizations to construct, purchase and rehabilitate rural, multi-family, farm labor housing properties.

“The Obama Administration is committed to helping all residents in rural America,” said Tonsager. “This program provides clean, safe, affordable housing to rural farm labor residents.”

USDA Rural Development’s Farm Labor Housing program provides loans and grants to increase the number of housing units for domestic farm laborers. Below is a list of applicants selected for funding.

Alabama

• Alabama Non-Profit; $1,677,913 loan; $719,106 grant

California

• Calistoga Family Apartments; $3,000,000 loan

• Las Palmers Apartments; $3,000,000 loan

Colorado

• Colorado Community Development; $2,000,000 loan, $1,000,000 grant

Illinois

• Deenslake Affordable Housing; $1,455,541 loan

Kansas

• Northwest Kansas Housing Authority; $500,000 loan, $965,223 grant

New Mexico

• El Camino Real Apartments; $2,122,544 loan

Oregon

• Columbia Cascade Housing Corp; $1,500,000 loan, $1,500,000 grant

• Salem-Kaiser Community; $1,500,000 loan, $1,500,000 grant

Puerto Rico

• Pathouse Action Corp.; $150,000 loan

South Carolina

• BGM, INC.; $1,376,800 loan, $1,000,000 grant

Washington

• Genesis Housing Services; $2,307,500 loan, $192,500 grant

For additional information on RD projects, please visit Rural Development’s new interactive web map featuring program funding and success stories for fiscal years 2009-2012. The data can be found at: http://www.rurdev.usda.gov/RDSuccessStories.html.

President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.

USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure programs through a national network of state and local offices. Rural Development has an active portfolio of more than $176 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.

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USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).

Contact
Dane Henshall (202) 260-0996

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USDA

The United States Department of Agriculture (informally the Agriculture Department or USDA) is the United States federal executive department responsible for developing and executing U.S. federal government policy on farming, agriculture, and food. It aims to meet the needs of farmers and ranchers, promote agricultural trade and production, work to assure food safety, protect natural resources, foster rural communities and end hunger in the United States and abroad.

Contact:

Weldon Freeman
Phone: (202) 690-1384

U.S. Department of Agriculture
1400 Independence Ave., S.W.
Washington, DC 20250

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