Funds Expected to Create and Save 42,500 jobs Nationwide, Provide Thousands with Home Ownership Opportunities for Rural America
Washington, DC - United States Senators Mark Udall and Michael Bennet today announced that Colorado will receive over $81.5 million under the American Recovery and Reinvestment Act of 2009 to help spur economic and home ownership opportunities in rural America. The over $81.5 million in funds will provide direct operating loans to farmers and ranchers, and single family housing loans to rural residents and infrastructure support.
"We have a real need for more safe, affordable housing in rural Colorado," Senator Udall said. "Not only will these funds help more families achieve the dream of homeownership in those communities - they will create good-paying jobs. It's another example of how the American Recovery and Reinvestment Act is working to help strengthen and stabilize our economy for the long term."
"These funds will help create jobs, spur economic growth in rural America, and put the American dream of homeownership within reach of folks in Colorado's small towns and rural communities," said Bennet.
USDA's housing programs are designed to improve the quality of life for rural Americans by ensuring that they have access to safe, well-built, affordable homes. The programs finance new or improved housing for very low- to moderate-income families and individuals in rural areas.
More information about USDA's efforts regarding the Recovery Act is available at www.usda.gov/recovery. More information about the Federal government's efforts on the economic stimulus is available at www.recovery.gov.