Lexington, Kentucky, Jun 10, 2013 -- USDA Rural Development State Director Tom Fern has announced a $490,000 loan to the City of South Shore to construct a new city hall. The United States Department of Agriculture (USDA) remains focused on carrying out its mission, despite a time of significant budget uncertainty. Today's announcement is one part of the Department's efforts to strengthen the rural economy.
Rural Development funds will be used to construct a new 1,820 sq. ft. building to house the city offices, which were moved to a temporary location after fire destroyed the previous city hall. The current building does not meet Americans with Disabilities Act access requirements, is functionally inadequate, lacks adequate space, and has insufficient parking to accommodate city services. The new facility will allow the city to provide services for approximately 1,122 residents in rural Greenup County. The repayment terms for the loan are forty years at an interest rate of 3.5 percent.
“This facility is critical to ensuring all citizens of South Shore have access to local government services and officials,” said Fern. “USDA is committed to working with communities like South Shore to improve the quality of life for area residents.”
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 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, has a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
USDA has made a concerted effort to deliver results for the American people, even as USDA implements sequestration – the across-the-board budget reductions mandated under terms of the Budget Control Act. USDA has already undertaken historic efforts since 2009 to save more than $828 million in taxpayer funds through targeted, common-sense budget reductions. These reductions have put USDA in a better position to carry out its mission, while implementing sequester budget reductions in a fair manner that causes as little disruption as possible.