USDA Rural Development Utah State Director Randy Parker today announced that USDA is investing $9.5 million into a Tooele County school to help serve students in rural Utah.
“When we invest in rural schools we’re ultimately investing in the future of the community,” Parker said. “With this loan, Bonneville Academy can continue to offer valuable STEM education to their students and local families for many years to come.”
Bonneville Academy, a public charter school in Stansbury Park, will use a $9,550,000 combined direct loan and loan guarantee to purchase the building they have been leasing. The school admits students in kindergarten through eighth grade and is the only designated Science, Technology, Engineering, and Math (STEM) school in the area. Purchasing the building allows the school to reduce costs and make improvements as needed.
USDA is making this investment through the Community Facilities Direct Loan Program and Community Facilities Guaranteed Loan Program. Interested parties should contact the USDA Rural Development Utah state office for information about additional funding, application procedures, and eligibility details. Also see the Community Facilities Direct Loan Program Guidance Book for Applicants, a detailed overview of the application process.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov/ut.