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RURAL DEVELOPMENT HOUSING PROGRAMS
SFH REPAIR LOAN AND GRANT
• Help low and very low income owner occupants complete essential repairs
• Loans – repair or modernize; 1% fixed interest rate; up to 20 year loan term; $20,000 outstanding at any one time
• Grants – remove health/safety hazards only; $7500 lifetime maximum; must be at least 62 years old
• FY 2012 to date:
17 families assisted with loans - $99,459
64 families assisted with grants - $386,010
SFH 502 DIRECT LOAN PROGRAM
• Assist low and very low income applicants purchase new or existing home, complete required repairs, and pay closing costs
• Payments are based/subsidized on annual household income• Subsidy will be 24% of monthly income or 1% rate whichever is
higher• 100% financing with 33 year loan term and fixed interest rate
(currently 3.25%)• FY 2012 to date: 90 families assisted - $8,243,465• FY 2011: 183 families assisted w/ Direct funds - $17,632,545
SFH 502 GUARANTEED LOAN PROGRAM
• Assist applicants purchase new or existing, complete required repairs, and pay closing costs OR
• Refinance construction to permanent or existing RD direct or guaranteed to lower the rate and extend the term
• Income cannot exceed moderate level which is currently $74,750 for families of 1-4 persons and $98,650 for 5-8 person families
• Loans are approved by an approved lender• 100% mortgage financing but LTV can exceed to include guarantee
fee• No down payment required; mortgage insurance not allowed
SFH 502 GUARANTEED LOAN PROGRAM CONTINUED
• Actual 2% guarantee fee on purchase, 1.5% on refinance, plus .3% annual fee on all loans
• 30 year loan term and fixed interest rate• FY 2012 to date: 1092 families assisted - $119,262,370
• FY 2011: 2,356 families assisted - $257,203,834• FY 2010: 3,045 families assisted - $327,126,343• FY 2009: 3,068 families assisted - $315,459,603
533 HOUSING PRESERVATION GRANTS
• Funds are provided to Grantee to assist low and very low income homeowners repair/rehab their homes or build new
• Eligible applicants – American Indian Tribes, private non-profit, public non-profit organizations
• Funds can be used for: sewers/septic systems, water systems, wiring, roof repair/replacement, siding, handicap accessibility; admin fees
• Grantee supervises work, can use 20% grant funds for admin expenses, provides RD quarterly reports
533 HOUSING PRESERVATION GRANTS CONTINUED
• FY 2011 State Allocation : $239,295
6 applications currently submitted for funding from regular funds
• FY 2010 State Allocation: $261,825
6 projects were funded w/regular and disaster funding
515 MULTI-FAMILY DIRECT HOUSING
• 2011
1 Property funded for $1,000,000
• 20102 Properties funded for $463,243
523 MUTUAL SELF HELP HOUSING
• Provide funds to Grantees to assist with technical assistance, recruitment, etc. to eligible homeowners to build homes utilizing “sweat equity”.
• Currently 6 operating Grantees in the state with funding totaling $3,542,611 to assist 208 families build homes
• FY 2010: 4 Grantees funded $2,873,211 to build 160 homes in 2 yrs.• FY 2011: 1 Grantee funded $449,400 to build 28 homes in 2 yrs. • FY 2012 to date: None funded to date; 2 applications pending for
$1,757,839 and 102 homes
538 GUARANTEED RURAL RENTAL HOUSING LOAN PROGRAM
• FY 2011
0 loans to date
• FY 2010 to date:
2 loans totaling $839,020 on projects with total development costs of $13,804,276 (Leverage funding 88.9% and 91.4% on the two projects)
Business & Community Programs
Business & Industry Guaranteed Loans
Community Facility Direct Loans & Grants
Water & Environmental Programs
and…numerous other programs
Business & Industry Guaranteed Loans
• 50,000 population or less *• New or existing businesses• 80% Guarantee *• Job Creation and Job Sustainment• Banks use it for risk management
Business & Industry Guaranteed Loans
• Since 2008….– Over 60 businesses have been helped– Thousands of jobs have been created or saved– Over 240 million dollars guaranteed– Set records for obligations in 2008 and 2010
Business & Industry Guaranteed Loans
• Some examples….– Hotels– Manufacturing Companies– Convenience & Grocery Stores– Oil & Gas– Retail Establishments
Water & Environmental Programs
• 10,000 population or less• Low interest loans (2.00% to 3.375%)• Some grants are possible• For Municipalities & Rural Water Districts
and Tribal Entities• Guaranteed loans are available• Drinking water, & waste water
Water & Environmental Programs
• Drinking water, & waste water• Since 2008…
– Over $198,000,000 dollars obligated– Repaired, constructed, expanded over 110
facilities
Community Facility Direct Loan, Guaranteed Loan & Grant Program
• 20,000 population or less• For Municipalities, Counties, Non-Profits, Tribal
Entities• Project can receive combined funding…loan/grant
combos• Hospitals, Police, Fire, Rescue, Municipal
Buildings, Jails, Childcare, Farmers Markets, Libraries, Computer Labs, Dormitories
Community Facility Direct Loan, Guaranteed Loan & Grant Program
• Since 2008….– Over $37,000,000 obligated in loans & grants
9000 series Energy Programs
• 9007 - Rural Energy for America Program (R E A P)
• 9005 - Payments to Eligible Advanced Biofuel Producers
9007 – R E A P
• Grants & Guaranteed Loans• “For Profit” companies & Ag Producers• Grants are 25% of eligible project• $1,500 minimum / $250,000 maximum• Wind, solar, HVAC, insulation, windows…
Section 9005 - Payments to Eligible Advanced Biofuel Producers
• To support and ensure an expanding production of Advanced Biofuels
• Provide payments to Eligible Advanced Biofuel Producers• To promote sustainable economic development in rural
America• To provide economic incentives for increased production
of advanced biofuel and use.
Section 9005 - Payments to Eligible Advanced Biofuel Producers
• Eligible Applicants– Advance Biofuel producers
• Rural and non rural biofuel facilities• Foreign owned biofuel facilities
Section 9005 - Payments to Eligible Advanced Biofuel Producers
• August 18, 2010 amended notice • Allows foreign-owned and non rural to submit an
application to participate in the remaining available funds for FY2009
• Provide 25% of the remaining available funds to producer who submitted a request under the March 12, 2010 NOCP
• Applications from foreign-owned and non-rural producers due September 17, 2010
Other Business & Community Programs
• Value Added Producer Grants• Rural Business Enterprise Grants• Rural Business Opportunity Grants• Rural Economic Development Loan & Grants• Rural Microentrepreneur Assistance Grants• Intermediary Relending Programs
Questions….