Davis delivers Recovery Act
investment in United Fund of Cumberland Co.
"I thank USDA Rural Development for partnering with
United Fund of Cumberland County so they and other area non-profits have the
necessary space to meet the needs of the people they administer to and serve,"
said Congressman Davis.
The Rural Development investment includes a $192,000
low-interest loan and a $50,000 grant. According to Hamby, the United Fund will
contribute an additional $100,000 to the project. Funds will be used to purchase
and renovate a building with sufficient space to house United Fund operations
and provide a home for other area non-profit organizations. The project is being
funded through the American Recovery and Reinvestment
Act.
"In today's challenging economic environment the work of
the United Fund for the people of
Rural Development’s community facilities program uses
direct loans, loan guarantees and grants to provide rural areas with the
financial resources to construct or improve essential services like healthcare,
education, civic infrastructure and first responder facilities. The
loan-guarantee program encourages private lenders to expand their investment of
capital in rural communities. Community facilities programs target rural areas
with a population less than 20,000.
The American Recovery and Reinvestment Act of 2009
(Recovery Act) is designed to jumpstart the nation's economy, create or save
millions of jobs and put a down payment on addressing long-neglected challenges
so our country can thrive in the 21st century. The Act includes measures to
modernize our nation's infrastructure, enhance energy independence, expand
educational opportunities, preserve and improve affordable health care, provide
tax relief, and protect those in greatest need.
USDA Rural Development invests in rural communities
through business development, community and homeownership programs. Last year
Rural Development assisted more than 678,000
For more information on Rural Development programs
available in
###