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Darke
County Economic Development...
Rural
Energy for America Program (REAP)
February 3, 2012
On January
20, 2012, the Rural Business -Cooperative Service invited agricultural
producers and rural small businesses to apply for grants and loan
guarantees through
the Rural Energy for America Program (REAP).
The Rural Energy for America program is
design to assist applicants
install renewable energy systems and make energy efficiency
improvements.
Parties interested in applying for the REAP grant only or REAP grant
and loan
guarantee in combination must submit their complete application to the
Ohio
Rural Development State Office.
Applications must be received by 4:30
p.m. on March 30, 2012. Parties
interested in applying for a loan guarantee only must submit their
complete
application to the Ohio Rural Development State Office no later than
4:30 p.m.
on June 29, 2012.
Renewable
energy systems can include solar electric, solar thermal, wind,
geothermal,
biomass, blender pumps and anaerobic digestion systems.
Energy efficiency improvement systems
can
include lighting improvements, insulation, electric motor replacements
and
other energy efficiency improvement projects as outlined in an energy
audit.
Grants are available on a competitive basis for up to twenty-five
percent of
the eligible project costs. Loan guarantees are also available for up
to
seventy-five percent of the eligible project costs. Combination grant
and loan
guarantee applications cannot exceed seventy-five percent of eligible
project
costs.
Nationally,
funding available in Fiscal year 2012 will be used to support REAP
grants
totaling $12,500,000 and loan guarantees totaling $48,500,000. The
funds
available for Fiscal Year 2012 are reduced substantially from previous
years
resulting in increased competition for the limited funding available.
As in
previous years, increased emphasis is being placed on projects which
are
requesting less than $20,000. Congress
has authorized a specific budget allocation to fund these smaller
projects
which provide energy efficiencies or can produce renewable energy for
the
applicant.
Additional
emphasis is being placed upon loan guarantees. The loan guarantee
program can
be a great benefit to a lender looking to reduce their risk exposure
while
increasing their income and for a borrower to access capital on better
rates
and terms resulting in an improved cash flow and a successful business.
If you are
interested in pursuing a grant or loan guarantee for the Rural Energy
for
America Program, please submit a complete application to the address
listed
below at your earliest opportunity.
The
following individuals can assist in answering questions and providing
application documents regarding this program.
Cindy
Musshel, Business Program Assistant
614-255-2427,
Cindy.musshel@oh.usda.gov
Christie
Hooks, Business Program Specialist
614-255-2397,
Christie.hooks@oh.usda.gov
Randy
Monhemius, Business Program Specialist
614-255-2424,
Randy.Monhemius@oh.usda.gov
USDA, Rural
Development, State Office
200 North
High Street, Room 507, Columbus, OH 43215
Fax 614-255-2562; www.rurdev.usda.gov
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