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 and are limited to a maximum of $4,000,000
per project.
Loan Terms:
Up to 40 years based upon an applicant's
authority and life expectancy of the security.
The interest rates (effective Jan 1 - Mar 31) are:
Market - 4.00%
Intermediate - 3.25%
Poverty - 2.375%
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 '10:
Funding for FY '10 is currently available.
To see the projects funded in FY '09, please click
here.
Last Updated :
February 03, 2010
