Greeneville, TN, Sep 27, 2012 -- USDA Rural Development Administrator of Housing and Community Programs Tammye Treviño announced today a new partnership between Tusculum College and USDA. Treviño also announced the award of a $40 million Community Facilities loan which will allow for renovation of current space and construction of a new science and math building.
"Tusculum College is a key economic driver for the Greene County and Northeast Tennessee," said Treviño. "The college's faculty and staff have a long, distinguished history of ensuring that businesses have a homegrown source of well educated workers to keep the region competitive and our rural communities healthy."
Rep. Phil Roe, philanthropist Scott Niswonger and Tusculum President Nancy B. Moody were joined by Administrator Trevino and local leaders for the announcement of a partnership between USDA Rural Development and Tusculum College that will lower overhead while also funding renovations to historic Tredway Hall and construction of a state-of-the-art science and math facility.
According to President Moody, the $40 million Community Facilities loan from USDA will significantly lower debt service payments, making the new construction and renovation projects possible while also improving the college's overall finances and supporting the local economy.
Tusculum College is the oldest college in Tennessee and the 28th oldest in the nation. Approximately 2,100 students are enrolled on the main campus in Greeneville and three off-site locations in East Tennessee.
Treviño lauded Tusculum officials and community leaders during a visit to USDA Rural Development projects in North Carolina and Tennessee earlier this week. Thursday the Administrator also delivered the keynote address to the Federation of Appalachian Housing Enterprises' Residential Energy Efficiency Summit at the Millennium Conference Center at East Tennessee State University in Johnson City before traveling on to Greeneville.
For additional information on USDA projects, please visit Rural Development’s new interactive web map featuring program funding and success stories for fiscal years 2009-2011. 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 and strengthening 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 existing 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, has an active portfolio of more than $170 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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