Hilo, HI, Jun 17, 2013 -- Chris Kanazawa, State Director for USDA Rural Development, announced at the 5th Annual Affordable Housing Conference that, effective immediately, the Village of Dededo is now eligible for USDA's Housing Programs. The housing conference was held at the Hyatt Regency Hotel from June 5-6, 2013 and was attended by over 200 participants representing realtors, brokers, lenders, developers, contractors, federal agencies, non-profit organizations, architects and other organizations affiliated with the housing industry.
The announcement was significant in that the largest village on Guam now has 100% financing available for homes to potential first-time homeowners who desire to reside in Dededo. The Village of Dededo was determined to be ineligible as a result of the 2000 US Census, which indicated that the village population exceeded USDA's maximum population threshold of 25,000.
However, the 2010 US Census provided more of a breakdown of population densities that qualified as Census Designated Places (CDPs) for the entire island. As a result of the new CDPs by the US Census Bureau, Guam's CDPs increased from 32 CDPs in 2000 to 57 eligible CDPs in 2010. Clearly, Dededo had the largest increase in CDPs. With the inclusion of Dededo, the entire Island of Guam is now eligible for USDA's housing programs that offer 100% financing for eligible first-time homeowners.
"Homeownership is an important investment for individuals and families and serves as a catalyst for strong, stable communities," Kanazawa stated. "We are sincerely ecstatic to have our programs back in Dededo," he said. "Homeownership is an important investment for individuals and families and serves as a catalyst for strong, stable communities. USDA is proud to offer programs that increase homeownership opportunities in our rural communities."
"The announcement by Mr. Kanazawa culminates a decade of dedication and hard work with community stakeholders to address the eligibility of Dededo," said Joseph Diego, Area II Director. "Thanks to the efforts from individuals, Mayor Melissa Savares, Senator Tina Muna-Barnes, the Affordable Housing Coordinating Council and the Governor's Office, a united front was presented to USDA which resulted in the Village of Dededo once again benefitting from having 100% financing resources available from USDA."
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 Tom 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 an active portfolio of more than $172 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.
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 $700 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.