NC receives loan to improve rural electric infrastructure
Story Date: 4/29/2010

  Source:  USDA, 4/28/10

Agriculture Secretary Tom Vilsack today announced that rural communities in 21 states will benefit from guaranteed loans provided by USDA to improve electric service delivery to more than 33,000 customers.

"The Obama Administration believes that modernized infrastructure is a necessary part of the foundation for long term economic stability and prosperity in rural America and this funding will help rural utilities build and upgrade essential electric infrastructure to help communities thrive," Vilsack said. "These investments will improve local service, create jobs and expand economic opportunity in rural areas."

The funding is being provided by the Rural Utilities Service electric program at USDA Rural Development. The loans will help build more than 2,405 miles of new distribution lines and upgrade more than 1,822 miles of existing distribution lines. These investments are part of the Obama Administration's commitment to bring improved infrastructure to rural communities.

For example, the Navajo Tribal Utility Authority in Fort Defiance, Ariz., has been selected to receive a $103.1 million loan guarantee to build 600 miles of new distribution lines, 37 miles of transmission lines and make improvements to 153 miles of existing distribution lines. These investments will serve 4,982 new and current customers in Arizona, New Mexico and Utah.

The Dixie Electric Power Association in Laurel, Miss., has been selected to receive a $39.7 million loan guarantee to improve electric service delivery to 6,520 new and current consumers. The utility will use the loan to build 316 miles of distribution lines and make improvements to 172 miles of existing distribution lines.

The loan guarantees announced today total $364.3 million and are part of USDA Rural Development's annual budget; they are not funded through the American Recovery and Reinvestment Act of 2009. For more information on USDA's electric program, please visit the following USDA website: www.usda.gov/rus/electric/index.htm.

North Carolina

Four County Electric Membership Corporation - $45,000,000 guaranteed loan to serve 4,265 customers, build 139 miles of distribution lines, 14 miles of transmission lines and improve 63 miles of distribution and 22 miles of transmission lines.

USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a network of 6,100 employees located in 500 national, state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $134 billion in loans and loan guarantees.



 
























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