RURAL DEVELOPMENT HOUSING PROGRAMS

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RURAL DEVELOPMENT HOUSING PROGRAMS

  1. 1. RURAL DEVELOPMENTHOUSING PROGRAMS
  2. 2. 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
  3. 3. 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
  4. 4. 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
  5. 5. 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
  6. 6. 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
  7. 7. 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
  8. 8. 515 MULTI-FAMILY DIRECT HOUSING• 2011 1 Property funded for $1,000,000• 2010 2 Properties funded for $463,243
  9. 9. 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
  10. 10. 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)
  11. 11. Business &Community Programs
  12. 12. Business & Industry Guaranteed LoansCommunity Facility Direct Loans & Grants Water & Environmental Programs and…numerous other programs
  13. 13. 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
  14. 14. 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
  15. 15. Business & Industry Guaranteed Loans• Some examples…. – Hotels – Manufacturing Companies – Convenience & Grocery Stores – Oil & Gas – Retail Establishments
  16. 16. 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
  17. 17. Water & Environmental Programs• Drinking water, & waste water• Since 2008… – Over $198,000,000 dollars obligated – Repaired, constructed, expanded over 110 facilities
  18. 18. 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
  19. 19. Community Facility Direct Loan,Guaranteed Loan & Grant Program• Since 2008…. – Over $37,000,000 obligated in loans & grants
  20. 20. 9000 series Energy Programs• 9007 - Rural Energy for America Program (R E A P)• 9005 - Payments to Eligible Advanced Biofuel Producers
  21. 21. 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…
  22. 22. 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.
  23. 23. Section 9005 - Payments to Eligible Advanced Biofuel Producers• Eligible Applicants – Advance Biofuel producers • Rural and non rural biofuel facilities • Foreign owned biofuel facilities
  24. 24. 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
  25. 25. 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
  26. 26. Questions….

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