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.