|(FEBRUARY 7, 2012) USDA RURAL DEVELOPMENT INVESTS NEARLY $1 BILLION INTO RURAL CALIFORNIA|
|Davis, CA, Feb 07, 2012
@@ USDA Rural Development State Director Glenda Humiston today announced USDA Rural Development injected $994,552,592 in direct loans, guaranteed loans and grants throughout rural California during fiscal year 2011. Investments assisted rural business and communities to promote economic development, as well as improve infrastructure and housing for Californians.
"Rural Development investments are creating ongoing economic opportunities in rural California that will pay benefits for years to come," said Humiston. "With over 40 programs available, we have helped modernize essential water and sewer systems, build clinics and hospitals, support renewable energy systems, promote economic development, and ensure affordable housing for thousands of Californians."
The agency's largest investment was $769 million in home loans which assisted over 4,600 families and individuals realize the dream of homeownership. Another $1.1 million in loans and grants assisted almost 200 homeowners with making vital home repairs. In addition, $52 million in loans and grants helped build and renovate apartments to provide an additional 810 units of safe, affordable rental housing. For example, Lindsay Apartments located in Lindsay, Calif., received $1.1 million to conduct a major renovation to the interior, exterior, and landscaping of the 60-unit complex.
Over $52.5 million in loans and grants were invested in a variety of projects to support economic growth and helped create and/or save almost 1,200 jobs throughout the state. In Esparto, Calif., Rural Development guaranteed a $786,000 loan, originated by Evolve Bank & Trust to Manas Ranch. The meat packaging business used funds to construct a custom meat packing and wrapping building and as a result was able to create an additional four new jobs.
Another $56 million in loans and grants provided funding for essential community facilities and vital infrastructure through various programs. Examples include $233,000 in loan and grant funds to assist the Mokelumne Hill Fire Protection District purchase a new specialized fire engine for wildland fire that replaces an outdated 35-year old vehicle. In Lake County, the Hidden Valley Lake Community Services District received $1.7 million in loans and grants to develop a new solar field to provide electricity for their wastewater treatment plant and pumps. And, in Del Norte County, the Karuk tribe was awarded a $1 million grant to help bring broadband internet service to the remote community.
"Stronger rural communities are vital to California," said Humiston. "Through our Rural Development programs we will continue to work alongside farmers, homeowners, businesses, nonprofits, cooperatives, and tribes to effectively enhance California's economic state."
Nationally, Rural Development allocated almost $29 billion in loans and grants to maximize private investments in rural communities and saved about 440,000 jobs. To read more about these accomplishments, please visit http://www.rurdev.usda.gov/SS_CA-Home.html.
USDA Rural Development administers and manages more than 40 housing, business, and community infrastructure and facility programs as laid out by Congress through a network of 6,100 employees located in 500 national, 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 more than $125 billion in loans and loan guarantees. For more information, please visit http://www.usda.gov.
USDA is an equal opportunity provider, employer and lender. To file a complaint of
discrimination, write: USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).