03.30.05

Burr Announces More than $13 Million in Federal Loans for North Carolina

WASHINGTON, DC - Senator Richard Burr today announced more than $13 million in federal loans for North Carolina. The United States Department of Agriculture's Rural Development Community Facility Direct Loan program approved loans for projects in 12 North Carolina counties.

"As we work to bring educational, health care, law enforcement and employment opportunities to the state, it's important that we remember all regions of North Carolina - urban, suburban and rural," said Senator Burr. "North Carolina's rural communities will receive timely assistance in building better schools and emergency response facilities with these loans."

• Pamlico County will receive a $1 million loan towards construction of a law enforcement center.

• The Town of Blowing Rock (Watauga County) will receive a $2.2 million loan to help build a Fire & Emergency Medical Services facility.

• The Clay County Justice Center will receive a $2.685 million loan to be used for a new administrative building and sheriff's office.

• Collettsville's Volunteer Fire & Rescue Department (Caldwell County) will receive a $1.2 million loan for a new fire station with offices, a training area and conference room.

• Knotts Island Volunteer Fire Department (Currituck County) will receive an $800,000 loan to be used to construct a new station.

• North Carolina Global TransPark Authority in Kinston (Lenoir County) will receive a $500,000 loan to expand existing hanger space and renovate the existing facility.

• The Tiller School of Carteret County will receive a $450,000 loan to construct six new classrooms.

• The Town of Catawba (Catawba County) will receive a $926,500 loan to remodel and modernize the Catawba Town Hall and enlarge its fire stations.

• The Town of Valdese (Burke County) will receive a $1.2 million loan to construct an Administrative Building for the town's administrative offices.

• Washington Montessori, Inc. in Washington (Beaufort County) will receive a $1.5 million loan to construct new school facilities.

• The White Plains Volunteer Fire Department (Surry County) will receive a $375,000 loan to replace two aging fire trucks with a new pumper and a new tanker.

• The Town of Winfall (Perquimans County) will receive a $28,800 loan - and a $15,000 grant - to purchase a four wheel drive police vehicle.

• Pathways for the Future in Sylva (Jackson County) will receive a $400,000 loan to expand Pathways' existing facility.

These loans were approved over a 40 year period at a 4.25 percent interest rate.