FUNDS AVAILABLE TO RENOVATE, PURCHASE AND CONSTRUCT RURAL RENTAL HOUSING

(03/04/2010)

Agriculture Secretary Tom Vilsack has announced that applications are being accepted to provide affordable rental housing to rural residents through the Guaranteed Rural Rental Housing Program. "The Obama Administration is committed to providing improved economic opportunities to the residents of rural America, and an important factor is clean, safe, affordable housing," said Vilsack. "This program helps finance the construction, acquisition and rehabilitation of affordable multi-family rental housing for rural residents and I encourage eligible parties to apply for these funds." Through the Guaranteed Rural Rental Housing Program, USDA Rural Development provides loan guarantees for private lenders and public agencies. Funds are not provided to individual renters. Up to $129 million is available for the program for Fiscal Year 2010.

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