Rural Development's Community Facility, Water & Waste Disposal Guaranteed Loan Programs Affected
(CARSON CITY, Nev. - Oct. 31, 2019) Earlier this month U.S. Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Donald “DJ” LaVoy announced that in accordance with the 2018 Farm Bill), USDA's Rural Housing and Utilities Service will change rural population limits, fees and funding priorities for some loan guarantee programs administered through the Rural Housing Service and the Rural Utilities Service. The changes go into effect Dec. 2, 2019.
For fiscal year 2020, projects financed through the Community Facilities Guaranteed Loan Program will still receive priority in rural areas of 20,000 or fewer residents. Projects financed through the Water and Waste Disposal Guaranteed Loan Program will receive priority in rural areas of 10,000 or fewer residents.
For information about either the CF or WEP in Nevada, contact USDA Rural Development Community Programs Director Cheryl Couch at (775) 443- 4760 or by email at Cheryl.email@example.com
USDA will increase the Community Facilities Guaranteed Loan Program’s one-time guarantee fee from 1 percent to 1.5 percent. The Agency also will establish an annual renewal fee of 0.5 percent of the loan’s principal balance each year. There are no changes to the Water Waste Disposal Guaranteed Loan Program fee rates.
These changes are effective Dec. 2, 2019. However, applications for Community Facilities or Water and Waste Disposal loan guarantees for projects serving rural areas with populations up to 50,000 may be filed with the Agency starting today. The Agency will not act on any applications received under this notice until the effective date. For additional information, see page 52869 of the Oct. 3, 2019, Federal Register.