Lexington, KY, Oct 25, 2011 -- Rural Development State Director Tom Fern made two stops in Mason County today to present ceremonial checks to Hospice of Hope and Maysville Community and Technical College.

Fern said the Hospice of Hope project was awarded a $3 million direct loan through USDA Rural Development’s Community Facility Loan for the construction of a 32-unit assisted living facility for senior citizens and in-patient facility for terminally ill patients and their families. The facilities will be located in Maysville and will serve rural residents in Bracken, Fleming, Lewis, Mason, Pendleton and Robertson counties – as well as five counties in Southern Ohio.

The total project cost is estimated at $9.56 million. Other funding sources include a Community Development Block Grant for $750,000, a USDA Rural Economic Development Loan in the amount of $740,000 (through Fleming-Mason Energy) and $100,000 from the city of Maysville.

“Community Facilities projects such as Kenton Pointe not only create jobs, they are essential to improving the quality of life for rural Kentuckians,” said Tom Fern, State Director for Rural Development. “These projects are vital for the creation and maintenance of strong rural communities – and Rural Development is proud to be able to assist such a worthwhile project that will benefit so many rural communities.”

Rural Development also awarded a $75,000 grant to Maysville Community and Technical College through its Rural Business Enterprise Grant program. The funding will be used to provide technical assistance to promote sustainable economic growth in the five-county rural service area of Bracken, Fleming, Lewis, Mason and Robertson counties. A portion of the assistance will enact a “think-tank” of entrepreneurs from a variety of industries to act as a regional network supporting the development, identifying needs and proposing solutions for rural small and emerging businesses.

Fern presented the check to Ed Story, the school’s president and CEO, along with Mike Jackson, Maysville Entrepreneurial Director at the school.

“The Obama Administration and USDA is committed to helping small, rural businesses grow and providing the technical support needed to create jobs,” said Fern. “The RBEG funds awarded to Maysville Community and Technical College will be effectively utilized and help businesses in the area obtain the assistance they need to thrive and grow.”

USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in the nation's capital and nearly 500 state and local offices. 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. Rural Development has an existing portfolio of nearly $142 billion in loans and loan guarantees.

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