NEWS RELEASE USDA RURAL DEVELOPMENT PUERTO RICO

Media Contact: Miguel Ramírez
Phone: 787-859-2880 ext. 118
E-Mail: miguel.ramirez@pr.usda.gov

USDA RURAL DEVELOPMENT CELEBRATED HOMEOWNERSHIP MONTH IN JUNE

     San Juan, Puerto Rico, July 21, 2005--José A. Otero-García, Puerto Rico State Director, announced today that forty-two outreach activities were held during June as part of the Agency Homeownership Celebration.

     As of July 16, 2005 the Agency has helped 821 families have a safe and secure home during the present fiscal year. The Corozal Local Office was the office that obligated most funds in Puerto Rico for a total of $5,093,928.00. They helped 81 families live in a safe and secure house.

     We have obligated $346,434.00 in the Housing Presentation Grant Program, $63,996,881.00 in the Single Family Housing Guaranteed Program, $14,374,641.49 in the Single Family Housing Direct Program, $656,206.02 in the 504 Repair Loan Program and $582,239.55 in the 504 Guarantee Grant Program.

     As of today, Puerto Rico Rural Development has obligated $79,956,402.06 and has helped 821 families obtained a better place to live. "The Bush Administration has made it a priority to help rural families' secure safe and affordable housing," said Otero and these numbers are the proof.

     USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development has invested over $50 billion since the beginning of the Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. As result, over 800,000 jobs have been created or saved through these investments.

     Additional information on USDA Rural Development Programs can be obtained by visiting USDA's web site at http://www.rurdev.usda.gov or by calling Miguel A. Ramírez at (787) 859-3104 ext. 118. USDA Rural Development is committed to the future of rural communities.

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USDA Rural Development is an Equal Opportunity Lender, Provider, and Employer. Complaints of
discrimination should be sent to: USDA, Director, Office of Civil Rights, Washington, D.C. 20250-9410

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