[Federal Register Volume 64, Number 219 (Monday, November 15, 1999)]
[Notices]
[Page 61817]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-29633]


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DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service


Maximum Dollar Amount on Loan and Grant Awards Under the Rural 
Economic Development Loan and Grant Program for Fiscal Year 2000

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Notice.

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SUMMARY: The Rural Business-Cooperative Service hereby announces the 
maximum dollar amount on loan and grant awards under the Rural Economic 
Development Loan and Grant (REDLG) program for fiscal year (FY) 2000. 
The maximum dollar award on zero-interest loans for FY 2000 is 
$450,000. The maximum dollar award on grants for FY 2000 is $200,000. 
The maximum loan and grant awards stated in this notice are effective 
for loans and grants made during the fiscal year beginning October 1, 
1999, and ending September 30, 2000. REDLG loans and grants are 
available to Rural Utilities Service electric and telephone utilities 
to assist in developing rural areas from an economic standpoint.

FOR FURTHER INFORMATION CONTACT: Patricia Wing, Loan Specialist, Rural 
Business-Cooperative Service, USDA, STOP 3225, Room 6870, 1400 
Independence Avenue, SW, Washington, DC 20250, Telephone: (202) 720-
9558. FAX: (202) 720-6561. E-mail: PW[email protected].

SUPPLEMENTARY INFORMATION: The maximum loan and grant awards are 
determined in accordance with 7 CFR 1703.28. The maximum loan and grant 
awards are calculated as 3.0 percent of the projected program levels; 
however, as specified in 7 CFR 1703.28(b), regardless of the projected 
total amount that will be available, the maximum size may not be lower 
than $200,000. The projected program level during FY 2000 for zero-
interest loans is $15 million and the projected program level for 
grants is $4 million. Applying the specified 3.0 percent to the program 
level for loans results in the maximum loan award of $450,000. Applying 
the specified 3.0 percent to the program level for grants results in an 
amount lower than $200,000. Therefore, the maximum grant award for FY 
2000 will be $200,000.

    Dated: November 4, 1999.
Wilbur T. Peer,
Acting Administrator, Rural Business-Cooperative Service.
[FR Doc. 99-29633 Filed 11-12-99; 8:45 am]
BILLING CODE 3410-XY-P