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FOR IMMEDIATE RELEASE Media Contact: Julia Robbins 315-477-6436 Julia.robbins@ny.usda.gov
USDA Rural Development Provides Funding to Complete Water Project in the Town of Princetown
SYRACUSE, N.Y., December 7, 2004--The U.S. Department of Agriculture (USDA) Rural Development has awarded the Town of Princetown a $78,000 loan to complete an extension of the Town’s Water District #1. Since the project began in 2002, materials and construction costs have increased, resulting in the need for additional funds to complete the extension. The Water District #1, Extension #1, Darrow Rd. project involves the construction of a water distribution system, including new water mains and a pump station. Princetown received a $352,800 loan and $209,200 grant from USDA Rural Development in 2002 for these improvements. "I am pleased USDA Rural Development is able to provide this funding so that Princetown can complete this water distribution system," said Patrick H. Brennan, State Director for USDA Rural Development in New York. "The mission of USDA Rural Development is to improve the quality of life for residents of rural communities, and the Town of Princetown continues to invest in that mission. In 2004, USDA Rural Development awarded the Town of Princetown a $247,000 loan and $85,000 grant to begin Extension #3 to Water District #1. USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Further information on rural programs is available by contacting Pat Snover, Rural Development Manager at (518) 762-0077, Ext. 113, or by visiting USDA's web site at http://www.rurdev.usda.gov.
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