USDA Rural Development invested over $130.9 million in rural Vermont during FY 2009

Rhonda Shippee, Acting State Director for USDA Rural Development in Vermont is pleased to announce the investment of over $130.9 million in rural Vermont during Fiscal Year 2009. “With over 46 programs supporting infrastructure, broadband, homeownership, home preservation, business development, energy conservation and renewable energy, Rural Development’s traditional funding along with Recovery Act dollars, we are pleased to share how these investments will be used in Vermont.” said Shippee.
Rural Development’s Housing Programs helped to keep the dream of homeownership alive. Backed with Recovery Act funds, the Single Family Housing Direct and Guarantee loan programs assisted 396 individuals and families throughout Vermont to become homeowners. Another 110 homeowners received low interest loans or a grant to make necessary improvements that helped preserve their status as homeowners. Three organizations will use Housing Preservation Grant funds to assist an estimated 60 income eligible homeowners with repairs such as weatherization and accessibility.
Funds were also provided to two organizations that will bring new and affordable rental housing to both Alburg and Richford. Additionally, two existing rental housing properties in Bennington and Enosburg received assistance to make much needed renovations and improvements.
Rural Development and Recovery Act funds, totaling $36.6 million, was awarded to eight communities throughout Vermont which will help provide safe drinking water and improved wastewater treatment systems. Recovery Act funds made it possible for six of these eight communities to receiving the Rural Development Water and Environmental Program funding during 2009.
The Recovery Act also increased Rural Development efforts in providing Community Facility (CF) Grants, Loans and Loan Guarantee investments in Vermont. These programs assist communities with financing essential community services. The Town of Hancock is using their CF grant towards the construction of a new fire station which will also be used as the community’s emergency shelter and a training facility for volunteer firefighters. The Vermont Foodbank received Recovery Act backed CF funds to purchase and install a refrigeration/freezer unit at its new Southern Vermont Distribution facility in Brattleboro. Several town halls, community buildings, and child centers, now have or will soon have new roofs or equipment, assuring the continued delivery of the services offered by each recipient.
These Recovery Act backed projects support the Obama Administration’s goal of rebuilding and revitalizing the nation’s rural infrastructure. In Vermont, construction contracts in excess of $11.8 million have begun construction, using Rural Development Recovery Act dollars.
Rural Development’s Business Programs provided over $8.6 million to Vermont businesses for access to the capital and technical assistance they need for business expansion and stability during fiscal year 2009. Businesses will receive technical assistance for marketing, web development, financial and strategic planning through the Rural Business Enterprise Grant and Intermediary Relending Program recipients. Thirty-five (35) maple producers, small bed and breakfasts establishments, and farmers will be using the $2.3 millions they received from the Rural Energy for America Program (REAP) to purchase and install renewable energy systems or energy efficiency equipment at their operations to reduce their bottom line while helping to preserve the environment with green technology.
Fiscal Year 2009 total investment included more than $35 million for Caledonia, Orleans, and Essex Counties. Many of these obligations are a result of the three counties being recognized as a Rural Economic Area Partnership (REAP) Zone, one of only five throughout the nation.
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life in Rural America. This is done by providing financial and technical assistance to foster growth and new opportunities for business development, home ownership, and critical community and technology infrastructure. To learn more about USDA Rural Development programs visit the web site at http://www.rurdev.usda.gov/vt.
Source: USDA Rural Development in Vermont. Montpelier, VT, November 10, 2009 –