The funds can be used to construct, enlarge or improve community
facilities for health care, public safety, and public services. This can include
purchasing land for a facility, paying necessary professional fees, and
purchasing required equipment.
Health Care: Clinics, ambulatory care centers, hospitals, rehabilitation
centers and nursing homes.
Telecommunications: Medical and educational
telecommunications links.
Public Safety: Communication centers, police and
fire stations, fire trucks, rescue vehicles and jails.
Public services:
Adult and child care facilities, city halls, courthouses, airports, parking
garages, off-street parking, sidewalks, street improvements, college classrooms
and dormitories, libraries, museums, schools, fairgrounds, and animal shelters.
Loans and grants are available to public entities such as
municipalities, counties, and special purpose districts, as well as to nonprofit
corporations and tribal governments. Applicants must have legal authority to
borrow and repay loans, to pledge security for loans, and to construct, operate
and maintain the facility.
The terms are limited to 40 years, however
the repayment period cannot exceed the life of the security for the loan.
Interest rates are based on current market rate, but some lower interest rates
are available if certain criteria are met.
