|
Financing Programs
for
Community and Economic Development
Available in New York State
Fiscal Year 2005
New York Office: The Galleries of Syracuse, 441 South Salina
Street, Suite 357, Syracuse, New York 13202 Phone: (315) 477-6400
Fax: (315) 477-6438 TDD: (315) 477-6447 www.rurdev.usda.gov/ny
The USDA/Rural Development prohibits discrimination in its
programs on the basis of race, color, national origin, gender, religion, age,
disability, political beliefs, sexual orientation, and marital or familial
status. (Not all prohibited bases apply to all programs). Persons with
disabilities who require alternative means for communication of program
information (Braille, large print, audio tape, etc.) should contact the USDA
Office of Communications at (202) 720-2600 (voice and TTD). USDA is an equal
opportunity lender, provider and employer. Complaints of discrimination may be
filed with: USDA, Director, Office of Civil Rights, Washington, DC 20250-9410,
Ph.(202)720-5964 (voice and TDD).
Rural Housing Program (RHP)
|
Program |
Objective |
Applicant |
Uses |
Population |
Loan/
Grant |
Terms/Conditions |
| Single Family Home Ownership
Loans |
Finance safe, well-built,
affordable homes for rural Americans |
Families and individuals
apply to local RD office |
Buy, build, improve, repair
or rehabilitate rural homes as the applicant’s permanent residence |
Rural areas and populations
of 10,000 or less |
Direct loan |
Finance up to 100% of market
value. Loans typically amortized over 33 years. Applicant may be
eligible for payment assistance (subsidy) to reduce monthly payment |
| Single Family Home Repair
Loans and Grants |
To assist very-low income
homeowners repair their homes |
Families and individuals
who currently own their home apply to local RD office |
Repairs to improve or
modernize a home, remove health or safety hazards or to make property
accessible for household members with disabilities |
Rural areas and populations
of 10,000 or less |
Direct loan Direct grant |
Maximum loan term 20 years @
1% fixed interest rate. Outstanding balance on loan(s) not to exceed
$20,000. Grants available to applicants age 62 years or older to remove
health or safety hazards or make property accessible to household
members with disabilities. Lifetime grant assistance $7500 |
| Self-Help Housing
Loans and Grants |
Single family homes built by
a group of program eligible applicants using RD financing. Project
development and construction guidance provided by a participating
non-profit grantee |
Loan applications are
packaged and developed by the grantee organization – referred to RD for
final underwriting and approval.
Grant application information provided by local RD office
|
Loan made to individuals
and/or families for site, material and skilled labor Grants provided
to non-profit organizations to develop self-help project, provide
technical assistance, counseling and construction supervision. |
Rural areas and
populations of
10,000 or less |
Direct loan Direct grant |
Loan: Same as Single Family
Home Ownership guidelines above; however, substantial portion of labor
involved with constructing home provided by applicant.
Grant: Organization must have technical and supervisory experience to
carry out objectives of self help project |
| Single Family Home
Ownership Loan Guarantees
|
Assist eligible applicants
to purchase homes in rural areas by issuing loan note guarantees to
private lenders |
Families and individuals
apply to approved lenders. |
Loans may be made to
construct new or purchase existing homes in rural areas. |
Rural areas and populations
of 10,000 or less |
Loan guarantee |
30 year, fixed rate.
Interest negotiated between lender and borrower. Loans to 100 percent of
market value. Guaranteed fee of 1.75% can be financed, based on 100%
LTV. No PMI, no limit on seller concessions or property value
|
| Rental Housing for Families
and Elderly Direct Loans and Loan Guarantees |
Safe, well-built affordable
rental housing for rural Americans |
Individuals, profit and
non-profit organizations. For guarantees, apply to intermediary; for
direct, apply to RD State Office |
New construction or
substantial rehabilitation of rental housing |
Rural areas and populations
of 10,000 or less |
Direct loan or loan
guarantee |
Up to 100% of market value
(non-profits) ; 97% (for-profits) Up to 30 years with 50- year
amortization. |
| Housing Preservation Grants |
Repair and rehabilitate
housing owned or occupied by low income rural residents |
Public bodies and non-profit
corporations apply to RD |
Operate a program which
finances the repair and rehabilitation activities |
Rural areas and populations
of 10,000 or less |
Grant |
Grant Agreement Conditions |
| Community Facilities
Programs |
Provide essential community
facilities for rural communities |
Public bodies and non-profit
corporations. Guaranteed: apply to intermediary. Direct and grant: apply
to local RD office. |
Fire and rescue, public
safety, public buildings, schools, libraries, museums, day care, health
services. Not for recreation activities (except Guarantee) |
Rural areas and populations
of 20,000 or less-Direct; 20,000 or less-Guarantee |
Direct loan or loan
guarantee
Grant |
Up to 100% of market value
Up to 40 years or life of security |
| Farm Labor
Housing |
Safe, well-built
affordable rental housing for farm workers |
Individuals,
profit and non-profit organizations apply to RD |
New construction
or substantial rehabilitation of rental housing |
Rural areas and
populations of 20,000 or less |
Direct loan and
grant |
Up to 100% of
market value Up to 33 years @ 1% interest |
| Rural Business -
Cooperative Development Program (RBP) |
|
Program |
Objective |
Applicant |
Uses |
Population |
Loan/
Grant |
Terms/Conditions |
| Business and Industry Loan
Guarantees (B&I) |
Create jobs and stimulate
rural economies by providing financial backing for rural businesses |
Business applies through
Federal or State Chartered banks, credit unions, savings & loan
associations or other approved lenders. |
Most legal business
purposes. Acquisition, start-up and expansion of businesses that create
rural employment. Cannot finance farms, golf courses, gambling and
certain other businesses. |
All areas except cities of
more than 50,000 and their immediately adjacent urban areas.* |
Loan guarantee
|
Lender and borrower
negotiate terms within maximum terms allowed by USDA. Interest rates set
by lenders, may be fixed or variable. Applications must be filed through
an eligible lender. Preapplications are recommended. |
| Rural Business
Enterprise Grants (RBEG) |
Finance and
facilitate the development of small and emerging private business
enterprises |
Public bodies;
nonprofit corporations apply to RD office in their area. Public bodies
include Federally recognized Indian tribal groups |
Buy and develop
land, construct buildings, plants, roads, utility and service
extensions, purchase and own equipment. Provide technical assistance to
small businesses. Operate revolving loan funds for small businesses |
All areas except
cities of more than 50,000 and their immediately adjacent urban areas.* |
Grant |
When grant funds
are used for revolving loan fund (RLF) the intermediary makes loans to
businesses from its RLF on terms consistent with security offered |
| Rural Business Opportunity
Grants (RBOG) |
Promote sustainable economic
activity in rural communities |
Public bodies, nonprofit
corporations, Federally recognized Indian tribal groups and cooperatives |
Identify & analyze business
opportunities, provide technical assistance, establish business support
centers, conduct economic development planning & leadership training |
All areas except cities of
more than 50,000 and their immediately adjacent urban areas.* |
Grant |
Up to 100% of eligible
project costs for projects of 2 years duration or less. Grantee
establishes an evaluation method in the application. The Agency will
assess the instructional value to be shared with other communities. |
| Intermediary
Relending Program Loans (IRP) |
Finance business
facilities and community development projects in rural areas |
Public bodies,
nonprofit corporations, cooperatives, Federally recognized Indian tribal
groups, apply to area RD office. |
Community
development projects, establishment or expansion of businesses, creation
or saving rural jobs |
Rural areas and
places with populations of less than 25,000 |
Direct loan |
USDA loan to
intermediary at 1% interest for 30 years. The intermediary makes loans
to businesses from its revolving loan fund on terms consistent with
security offered |
| Value-added
Agricultural Product Market Development Grants (VAPG) |
Help eligible
applicants to develop business plans for viable marketing opportunities
and develop strategies to create marketing opportunities |
Individual
farmers, producer owned corporations and partnerships, farmer
cooperatives, agricultural producer groups, majority owned
producer-based business ventures and steering committees in the process
of organizing a value-added venture |
Planning grants
for feasibility studies, marketing plans, business plans, etc. Working
capital grants to pay organizational and start-up costs, legal fees, and
operating expenses of the business |
No restrictions |
Grant |
Grants of up to
$500,000, applicant must provide 100% matching funds, cannot be used for
real estate or equipment. Working capital grants only available if the
applicant shows that both an independently prepared feasibility study
and a business plan for the proposed venture have been completed. |
| Renewable Energy
– Energy Efficiency Grants (REEG) |
Funding
assistance to purchase renewable energy systems and/or make energy
efficiency improvements |
Agricultural
producers, rural small businesses (sole proprietorships, partnerships,
corporations, cooperatives) |
Purchase
equipment, construction and/or installation of renewable systems, energy
audits, professional service fees, permit fees, retrofitting. Not for
research and development. |
All areas except
cities of more than 50,000 and their immediately adjacent urban areas.* |
Grant; loans and loan guarantees authorized but not
yet implemented |
Grant up to
$500,000 to fund no more than 25% of total cost of renewable energy
system; grant up to $250,000 to fund no more than 25% of total cost of
energy efficiency improvements. Project must demonstrate financial need,
technical & economic viability. |
| Rural Economic
Development Loans and Grants |
Finance economic
development and job creation in rural areas |
Electric
Cooperatives & Rural Telephone Companies with RUS or Rural Telephone
Bank outstanding loans, apply to local RD office. |
Business startup
or expansion projects that create rural jobs |
Rural areas and
places with populations of 2,500 or less |
Direct loan |
The
intermediary, electric cooperatives or rural telephone company, makes
loans to profit or non-profit businesses and public bodies for rural
economic development and/or job creation projects. |
| Direct Loans
and Grants - Apply to Rural Development
Loan Guarantees - Apply to Intermediary (approved banks, credit
unions, etc.)
* - All Programs with a 50,000 population limit can access
http://www.ers.usda.gov/data/LoanLookup/ to check
locations eligibility via zip code. |
| Rural
Utilities Program (RUP) |
|
Program |
Objective |
Applicant |
Uses |
Population |
Loan/
Grant |
Terms/Conditions |
| Water and Waste
Disposal Loans and Grants |
Providing infrastructure for rural areas |
Public entities
and non-profit corporations apply to local RD office |
Build, repair,
and other related costs to improve public water systems and waste
collection and treatment systems |
Rural
areas and places with up to 10,000 population |
Direct loan and
grant |
Interest rates are set quarterly based on an index of current market
yields for municipal obligations. Repayment maximum: 40 years. Grant
funds may be available |
| Water and Waste
Disposal Loan Guarantees
|
Providing
infrastructure for rural areas |
Eligible lenders
obtain guarantee for loans made and serviced by them. Lenders should
contact
local RD office. |
Construct,
repair, modify, expand, and other related costs to improve water supply
and distribution systems and waste collection and treatment systems
|
Rural areas and
places with up to 10,000 population |
Loan guarantee |
Not
eligible for grant |
| Solid Waste Management
Grants |
Provide technical assistance
and/or training to help communities reduce the solid waste stream |
Non-profit organizations and
public bodies. Contact RD State Office in Syracuse. |
Provide technical assistance
and training to reduce pollution of water resources and improve
management of solid waste facilities, reduction of solid waste streams |
Rural areas and places with
up to 10,000 population |
Grant |
Projects funded
based on selection at National Level |
| Electric and
Telecommunication
|
Provide financial aid
through direct and guaranteed loans |
Non-profit and cooperative
associations, public bodies and other utilities. Contact
USDA-RUS-Electric Staff Div., Stop 1569, 1400 Independence Ave. SW,
Washington, DC 20250-1569 |
Generation, bulk
transmission facilities and distribution of electric power. Enhance 911
emergency service, digital switching equipment, fiber optic cable |
Rural areas |
Direct loan or loan guarantee |
Interest rates
are established in accordance with 7CFR 17145 |
| Distance Learning and
Telemedicine |
Development and deployment
of advanced telecommunication services throughout rural America |
Incorporated entities,
including municipal corporations, for-profit and not-for-profit groups,
which operate or will operate an educational institution, including a
regional educational laboratory, library, hospital, medical center,
medical clinic or any rural community facility. Rural schools,
libraries, health care clinics and other organizations that operate
educational or health care facilities. Application submitted to the RD
National Office, Washington, DC through NY RD State RUS Office
|
Equipment for classrooms:
cameras, video monitors computers and LAN; and for physician
consultation, radiology, x-ray scanners and digital microscopes |
Rural areas |
Direct loan and/or grant |
Matching funds
are required |
Summary of Program Purposes
|
|
LAND & |
MACH. & |
WORKING |
INFRA |
TRAIN/ |
|
|
BUILDING |
EQUIP. |
CAPITAL |
STRUCT. |
TECH. |
|
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RURAL HOUSING PROGRAM - SINGLE FAMILY |
|
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|
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Section 502 - Direct loan |
x |
|
|
|
|
|
Section 504 - Loan/grant |
x |
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|
|
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Section 523 Self Help Technical Assistance Grants |
|
|
|
|
x |
|
Section 502 - Guaranteed loan |
x |
|
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RURAL HOUSING PROGRAM - MULTI- FAMILY |
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|
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Rural rental housing - Guaranteed loan |
x |
|
|
x |
|
|
Rural rental housing - Direct loan |
x |
|
|
x |
|
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Farm labor housing - Loan/grant |
x |
|
|
x |
|
|
Housing preservation -Grant |
x |
x |
x |
x |
x |
|
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|
|
|
|
|
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RURAL
HOUSING PROGRAM – COMMUNITY FACILITIES |
|
|
|
|
|
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Community facilities - Direct loan/grant |
x |
x |
x |
x |
|
|
Community facilities - Guaranteed loan |
x |
x |
x |
x |
|
| |
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|
| |
RURAL
BUSINESS-COOPERATIVE PROGRAM |
|
|
|
|
|
|
Business & Industry - Guaranteed loan |
x |
x |
x |
x |
|
|
Rural Business Enterprise Grant |
x |
x |
x |
x |
x |
|
Rural Business Opportunity Grant |
x |
x |
x |
x |
x |
|
Intermediary Relending - Loan |
x |
x |
x |
x |
|
|
Value-Added Agricultural Product Market Development Grant |
|
|
x |
|
x |
|
Renewable Energy & Energy Efficiency Improvements Grant |
x |
x |
|
x |
|
| |
Rural Economic
Development Loan and Grant |
x |
x |
x |
x |
x |
| |
|
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|
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RURAL
UTILITIES PROGRAM |
|
|
|
|
|
|
Water and Wastewater - loan/grant |
x |
x |
x |
x |
|
|
Water and Wastewater - Guaranteed loan |
x |
x |
x |
x |
|
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Solid Waste Management Grant |
|
|
|
|
x |
|
Distance Learning/Telemedicine, Telecomm loan/grant |
|
x |
|
x |
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USDA Rural Development
New York Offices
| USDA RD New York
State Office
The Galleries of Syracuse
441 S. Salina Street, Suite 357
Syracuse, NY 13202-2541
315-477-6400
315-477-6438 (fax)
Note: Home County of each area office is
underlined. |
Batavia Area Office
29 Liberty Street, Suite 2
Batavia, NY 14020-3294
585-343-9167 ext. 2200
585-344-4662 (fax)
Counties served: Genesee, Monroe, Niagara, Orleans, Wyoming
Email: rdbatavia@ny.usda.gov |
Bath Area Office
415 W. Morris Street
Bath, NY 14810-1038
607-776-7398 Ext. 4
607-776-7487 (fax)
Counties served: Steuben, Allegany, Livingston
Email:
rdbath@ny.usda.gov |
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| Binghamton Area
Office 1163 Upper Front Street
Binghamton, NY 13905
607-723-1384 ext. 5
607-723-1015 (fax)
Counties served: Broome, Chenango, Cortland, Delaware, Tioga
Email:
rdbinghamton@ny.usda.gov |
Canandaigua Area
Office Agricultural Service Center
3037 County Road #10
Canandaigua, NY 14424
585-394-0525 ext. 4
585-394-8367 (fax)
Counties served: Ontario, Wayne, Yates
Email:
rdcanandaigua@ny.usda.gov |
Canton Area Office
3 Commerce Lane
Canton, NY 13617
315-386-2401 Ext. 4
315-386-1740 (fax)
County served: St. Lawrence
Email: rdcanton@ny.usda.gov |
| Ellicottville Area
Office 8 Martha Street, Suite B
P.O. Box 776
Ellicottville, NY 14731-0776
716-699-2375 ext. 4
716-699-5357 (fax)
Counties served: Cattaraugus, Chautauqua, Erie Email:
rdellicottville@ny.usda.gov |
Greenwich Area
Office 2530 State Route 40
Greenwich, NY 12834-9627
518-692-9440 ext. 4
518-692-2203 (fax)
Counties served: Washington, Columbia, Hamilton, Rensselaer,
Saratoga, Warren
Email:
rdgreenwich@ny.usda.gov |
Ithaca Area Office
903 Hanshaw Road
Ithaca, NY 14850
607-257-2737 Ext. 4
607-257-4802 (fax)
Counties served: Tompkins, Chemung, Schuyler, Seneca
Email:
rdithaca@ny.usda.gov |
| Johnstown Area
Office 113 Hales Mills Road
Johnstown, NY 12095-3741
518-762-0077 ext. 4
518-762-7020 (fax)
Counties served: Fulton, Albany, Montgomery, Otsego,
Schenectady, Schoharie
Email:
rdjohnstown@ny.usda.gov |
Lafayette Area
Office 2571 US Route 11, Suite 4
Lafayette, NY 13084-9641
315-677-3552 ext. 4
315-677-0072 (fax)
Counties served: Onondaga, Cayuga, Oswego
Email:
rdlafayette@ny.usda.gov |
Marcy Area Office
9025 State Route 49, Room 205
Marcy, NY 13403-2301
315-736-3316 ext. 4
315-768-5782 (fax)
Counties served: Oneida, Herkimer, Madison
Email: rdmarcy@ny.usda.gov |
USDA Rural Development NYS List
| Middletown Area
Office Suite 104, 1st Floor, 225 Dolson Avenue
Middletown, NY 10940-6569
845-343-1872 ext. 4
845-343-2630 (fax)
Counties served: Orange, Bronx, Dutchess, Greene, Kings, New
York, Putnam, Queens, Richmond, Rockland, Sullivan, Ulster, Westchester
Email :
rdmiddletown@ny.usda.gov |
Plattsburgh Area
Office 6064 Route 22, Suite 3
Plattsburgh, NY 12901-9601
518-561-4616 ext.2
518-563-0957 (fax)
Counties served: Clinton, Essex, Franklin
Email:
rdplattsburgh@ny.usda.gov |
Riverhead Area
Office 423 Griffing Avenue, Suite 120
Riverhead, NY 11901-2456
631-727-5666 ext. 4
631-727-4408 (fax)
Counties served: Suffolk, Nassau
Email:
rdriverhead@ny.usda.gov |
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Watertown Area Office PO Box 838
(21168 NYS Route 232)
Watertown, NY 13601-0838
315-782-7289 ext. 4
315-788-2454 (fax)
Counties served: Jefferson, Lewis
Email: rdwatertown@ny.usda.gov |
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Comments or suggestions regarding this booklet should be referred to
Scott Collins, Assistant to the State Director., USDA Rural Development,
The Galleries of Syracuse, 441 S. Salina Street, Suite 357, Syracuse, NY
13202-2425 E-mail: scott.collins@ny.usda.gov (315)477-6409 fax:
(315)477-6438.
Last Update 11/18/04
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