08.01.05

Burr Announces $400,000 Loan for Moore County

Funds to construct permanent school facility

Senator Richard Burr today announced United States Department of Agriculture (USDA) Rural Development division approval of a $400,000 Community Facility Direct Loan for Neighborhood Youth Leadership in Moore County. The funds will cover the construction costs of a permanent school facility, providing a "School of Choice" for rural families living in five surrounding counties.

"All North Carolina students, whether they live in an urban, suburban or rural area, should be able to learn in the best environment possible," said Senator Burr. "These funds will offer rural students in Moore County and surrounding areas access to the quality educational facilities they deserve."

Neighborhood Youth Leadership's loan will fund the construction of a 20,500 square foot permanent school facility with approximately 19 classrooms, a dance studio, an auditorium and an administrative area. This new facility will allow the school to expand enrollment to 300 students from kindergarten through the eighth grade.

Community Facility Direct Loans cover construction and improvement costs of community facilities in rural areas.

The loan was approved over 30 years at a rate of 4.125 percent.