Rural Development USDA Rural Development Overview

Transcription

1 Rural Development USDA Rural Development Overview South Dakota

2 JULIE GROSS South Dakota State Director th Street SW, Federal Bldg., Rm. 210 Huron, SD Phone: (605) julie.gross@sd.usda.gov

3 Rural Development Offices Rural Development Rural Housing Service Rural Utilities & Community Facilities Rural Business- Cooperative Service Rural Development Rural Business-Cooperative Service Rural Housing Service Rural Utilities Service

4 Rural Development s Programs

5 Janell Telin Single-Family Housing Director 524 Enterprise Street South, Suite 100 Aberdeen, SD Phone: (605)

6 Rural Housing Service (Single-Family Housing) Single-Family Housing No Down Payment 100 Percent Affordable Fixed Rate Financing

7 Rural Housing Service (Single-Family Housing) Continued Single-Family Housing Closing Costs and Repairs may be included No Private Mortgage Insurance (PMI) No Prepayment Penalties

8 Rural Housing Service (RHS) (Single-Family Home Repair Loans and Grants) Single-Family Home Repair Loans and Grants Access for persons with disabilities Roofs and septic tanks Energy-saving upgrades, and more.

9 Trace Davids Multi-Family Housing Director 2408 East Benson Road Sioux Falls, SD Phone: (605)

10 Rural Housing Service (Multi-Family Housing) Multi-Family Housing

11 Rural Housing Service (Multi-Family Housing) Loans are primarily used to build new apartment style buildings. Available to nonprofits, Limited Partnerships, Indian Tribes, individuals, and many other entities. Loans are made for 30 years but amortized using a 50 year factor. In communities with a population of 20,000 or less.

12 Rural Housing Service (Multi-Family Housing) Eligible tenants include very low, low, and moderate income tenants. Interest Credit is subsidy that lowers the interest rate on the loan to 1%. This make the payment lower which lowers the rent. Rental Assistance subsidizes the tenant s rent and utilities based on 30% of their income.

13 Tim Potts Community Development Program Director 414 East Stumer Road Rapid City, SD Phone: (605)

14 Community Programs (Community Facilities) Community Facilities Hospitals, health clinics Schools Daycares Fire houses, first responder vehicles and equipment Community centers and more.

15 Community Programs (Community Facilities) Purpose: Applicant: Loan Funds: Grant Maximum: Deadline: Provides affordable funding to develop essential Community Facilities (CF) in rural areas. An essential CF is defined as a facility that provides an essential service to the local community for the orderly development of the community in a primarily rural area, and does not include private, commercial or business undertakings. Public bodies, Community-based non-profit corporations, Federally-recognized Tribes, Towns, Authorities, and Institutions of Higher Education. Can be used to finance equipment for a maximum term of 15 years or useful life. Real Estate can be financed for a maximum term of 40 years. Current interest rate % (adj qtrly) A percentage (15% - 75%) of the project not to exceed $50,000 per project. Applications accepted throughout the year.

16 Rural Utilities Service (RUS) (Water and Waste Disposal Loans and Grants ) Water and Waste Disposal Loans and Grants Improve infrastructure Support public health and safety or Promote economic development.

17 Rural Utilities Service (RUS) (Water and Environmental Programs) Purpose: Applicant: Loans: Provides funding for the construction of water and waste facilities in rural communities and is focused on rural water and waste infrastructure needs of rural communities with populations of 10,000 or less. Most State and local governmental entities, Private non-profits and Federally-recognized Tribes. Up to 40 years to repay - interest rates of 2.375% up to 3.875% (changes quarterly). Grant Maximum: Depends on applicants financial situation and underwriting and can range up to 75%. Deadline: Applications accepted throughout the year. Bear Butte Valley Water

18 Dana Kleinsasser Rural Business and Community Programs Director th Street SW, Federal Bldg. Rm. 210 Huron, SD Phone: (605) dana.kleinsasser@sd.usda.gov

19 Rural Business Cooperative Service (Business Programs) Business & Industry Loan Guarantees Eligible lender and Rural Development provides loan guarantee. The guarantee percentage is based on the loan amount and is as follows: $5,000,000 or less 80% guarantee (certain situations can be up to 90%). $5,000,000 to $10,000,000 70% guarantee. $10,000,000 to $25,000,000 60% guarantee. Some purposes include real estate, buildings, equipment, supplies, working capital and some debt refinancing.

20 Rural Business-Cooperative Service (RBS) (Business Programs) Intermediary Relending Program Revolving Loan Fund Rural Microentrepreneur Assistance Program Revolving Loan Fund Loan & Grant Available Rural Business Development Grants Equipment, Incubator, Technical Assistance, Revolving Loan Fund Rural Economic Development Loan and Grant Program Electric or Telecom Coop Business start up of expansion that create rural jobs

21 Rural Business-Cooperative Service (RBS) (Business Programs) Energy Programs Rural Energy for America Program Loan & Grant Energy efficiency & Renewable Energy Advanced Biofuel Payment Program Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program Repowering Assistance Program Energy Audits & Renewable Energy Development Grants

22 Rural Business-Cooperative Service (RBS) (Cooperative Programs) Value-Added Producer Grant Planning or Working Capital Rural Cooperative Development Grant Technical Assistance Socially-Disadvantaged Groups Grant Technical Assistance

23 Rural Utilities Service (RUS)

24 Rural Utilities Service (RUS) (Electric Programs) Electric Programs

25 Rural Utilities Service (RUS) (Telecommunications Programs) Telecommunications Programs

26 Dana Kleinsasser, Rural Business & Cooperative Program Director, (605) Tim Potts, Community Programs Director, (605) Janell Telin, Single Family Housing Program Director, (605) Trace Davids, Multi-Family Housing Program Director, (605) USDA Rural Development USDA is an equal opportunity provider, employer, and lender