Friday, September 24, 2010
USDA Federal Funds For KY
KENTUCKY...
Kentucky is receiving a $53 million infusion of federal assistance for rural development initiatives, with much of the money going to improve electric service.
The U.S. Department of Agriculture has awarded the amount in loans and grants for rural infrastructure and economic development. Gov. Steve Beshear said Thursday that the investments to the rural economy come at an opportune time.
Three of the awards were made through the USDA Rural Development's Electric Program. It provides loans to electric utilities to upgrade, expand, maintain and replace rural electric infrastructure.
The governor's office said Jackson Energy Cooperative Corp. has been selected for a $20 million guarantee loan. It said Meade County Rural Electric Cooperative Corp. has been chosen for an $18.5 million guaranteed loan, while Clark Energy Cooperative Inc. has been selected for a $14 million guaranteed loan.
# posted by Homer Owens @ 9:39 AM 
