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Water, Waste Water, and Solid Waste Programs
Description:
Funding is provided for the financing
of small municipal and rural water, wastewater, and solid waste systems.
This is a loan and grant program available to rural communities and small
incorporated towns/cities not larger
than 10,000 in population.
Loan Purposes:
Funds can be used for construction,
land acquisition, legal fees, engineering fees, capitalized interest,
equipment,
etc.
Who is Eligible:
Public bodies and nonprofit corporations.
Applicants must be unable to obtain the financing from other funding
sources and/or their own resources at rates and terms they can afford.
Loan/Grant Amount:
Funding may be obtained for 100 percent
of eligible project costs, subject to adequate security, ability to
repay,
applicant's authority to borrow, and availability of funds. Grants cannot
exceed 75 percent of eligible
projects costs.
Loan Terms:
Up to 40 years based upon an applicant's
authority and life expectancy of the security.
The interest rates (effective October 1 - December 30) are:
Market - 4.375%
Intermediate - 4.375%
Poverty - 4.5%
These rates are subject to change on a quarterly basis.
Other Criteria:
Eligibility is determined by filing a
pre-application package with the appropriate Rural Development Area Office.
Funding Allocation for FY '07:
Funding for FY '07 is currently available. Applications will continue
to be accepted and will be
processed upon receipt of our new budget.
Funding for FY '06 was:
- Direct Loans - $33,262,000
- Guaranteed Loans - $1,696,000
- Grants - $11,243,000
To see the projects funded in FY '06, please click
here.
Please send any comments or suggestions to:
craig.scroggs@ga.usda.gov
Last Updated :
August 15, 2007