SCHUMER AND GILLIBRAND ANNOUNCE OVER $1 MILLION IN ECONOMIC DEVELOPMENT LOAN FUNDING FOR TOWN OF HOPEWELL IN ONTARIO COUNTY
USDA Funding Will Be Used to Make Critical Water System Upgrades
Today, U.S. Senate Minority Leader Charles E. Schumer and U.S. Senator Kirsten Gillibrand today announced that the Town of Hopewell is set to receive a $1,960,000 federal loan through the U.S. Department of Agriculture (USDA) Rural Development program. This funding will finance the construction of critical water system upgrades in the Town of Hopewell. This will extend public water service to 79 residents in the town who do not have safe and potable water. Installation of these water mains will also increase access to water for residents.
“This federal investment is good news for the Town of Hopewell and Ontario County,” said Senator Schumer. “These federal funds for the Town of Hopewell will help boost economic development, protect public health and support critical water infrastructure upgrades. I am proud to announce this federal investment and will continue to fight to make sure that rural communities have the tools they need to build, protect and maintain their infrastructure.”
“This is an important investment for Ontario County,” said Senator Gillibrand, a member of the Senate Environment and Public Works Committee. “These federal funds will help facilitate a critical project that will bring safe and reliable water to dozens of residents in the Town of Hopewell and encourage economic development throughout the region. I will continue to fight for funding in the Senate that protects the health and quality of life for residents and improve economic development opportunities in our state.”
Margaret Hilton, Hopewell Town Supervisor, stated “The Town of Hopewell is very excited and grateful for the loan awarded to create water district #6. It will supply public water to approximately 70 households that currently do not have a reliable water supply or have a water supply that is of poor quality. This water district will also bring adequate fire protection to these residents. Without this loan from Rural Development this district would not be able to obtain other funding. The loan of $1.96 million with a 38-year term will reduce the annual cost of debt service for households in this area to an affordable level.”
USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. This funding is awarded through the Electric Infrastructure Loan and Loan Guarantee Program administered by the USDA’s Rural Development agency. The Rural Development agency is committed to improving economies and lives in rural America through loans, grants and loan guarantees. They support local businesses, individuals, and communities by promoting economic development, offering loans and providing technical assistance.
Previous Article Next Article