STEVENS POINT, WI, APRIL 1, 2008 –The U.S. Department of Agriculture Rural Development State Director, Frank Frassetto, is pleased to announce the availability of funds for several Housing Programs.
“We are excited once again to have the opportunity to provide the financial resource to assist in the continued growth and revitalization of both multi-family housing and farm labor housing in rural Wisconsin” said Frassetto. “We hope that developers, investors, lenders and nonprofit organizations take full advantage of these exciting programs to greatly improve the quality of life for rural residents in Wisconsin,” he added.
Notices of Funding Availabilities (NOFAs) have been posted to the Federal Register for the Farm Labor Housing (Section 514), Farm Labor Housing Off-Farm Loan and Grant Programs (Section 516), Rural Rental Housing Program (Section 515), and the Multi-Family Housing Preservation & Revitalization Restructuring Demonstration Program (Sections 514, 516 & 515).
- The Off-Farm Labor Housing Loan and Grant Program provides funds for the construction of new off-farm labor housing units and related facilities for domestic farm laborers.
- The Rural Rental Housing Program provides loan funds for the new construction of affordable rental housing in eligible rural areas.
- The Multi-Family Housing Preservation & Revitalization Restructuring Demonstration Program (MPR) is intended to preserve off-farm housing and rural rental properties existing today. These funds are available for the repair and rehabilitation of those complexes were the ownership wishes to continue to provide affordable housing for rural Wisconsin residents.
Applications can now be submitted through May 12, 2008.For more information on these Housing Programs and the recent notices of funding, please visit the Federal Register at http://www.gpoaccess.gov/fr/index.html or contact the USDA Rural Development Wisconsin State Office at (715) 345-7620.
USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity, liquidity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technological infrastructure. Further information on USDA Rural Development programs is available by calling 715-345-7620 or by visiting USDA Rural Development’s web site at http://www.rurdev.usda.gov/wi.
