Rural Housing Boost Through ARRA

WASHINGTON — U.S. Senators Carl Levin (D-MI) and Debbie Stabenow (D-MI) announced today that Michigan has been awarded $358,161,033 in American Recovery and Reinvestment Act (ARRA) funding through the U.S. Department of Agriculture (USDA) to provide loan guarantees to low- and moderate-income individuals for the purchase of homes in rural areas. The funding will come as part of the USDA Rural Development Single Family Housing Guaranteed Loan Program (Section 502).

“Directing these economic recovery dollars to rural communities across Michigan will make it possible for many families to own their own homes and help put people back to work at the same time,” said Levin. “I am hopeful that providing an influx of funding for this program will help ensure that every family in Michigan has access to safe and affordable housing during tough economic times.”

“Rural communities continue to struggle from the economic and housing crisis,” said Stabenow. “By helping rural families with homeownership, this recovery funding helps provide the foundation these families need to secure a place to call home. At the same time, the program helps create good-paying jobs, making it a win-win for Michigan.”

Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

USDA Rural Development 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.

-April 2, 2009

I hope that some Missaukee families are able to access this assistance. If you think that you may be eligible for the USDA Rural Development Single Family Housing Guaranteed Loan Program contact USDA Rural Development today!

By the way, if you come on over and catch a Good Morning Lake City! at Baked Beans, you might just see a representative of the USDA...