« TypePad Comment Feature Not Working | Main | 4/9: Fundraiser & Fun-Raising Party for Jerry Ortiz y Pino for Lt. Gov. »

Saturday, March 27, 2010

USDA Provides Financing to Expand Electric Infrastructure In 5 New Mexico Counties

USDA Rural Development State Director Terry Brunner was in Hernandez, New Mexico yesterday to help Jemez Mountain Electric Cooperative celebrate its approval of a $28.9-million loan package to upgrade its electric delivery system.

During the celebration Brunner told the Jemez Mountain Board of Directors, “This project demonstrates USDA RD’s commitment to rural communities by improving its infrastructure, generating business opportunities, and provides a better quality of life to our rural residents.”

The loan to Jemez Mountain Electric Cooperative is provided under USDA Rural Development’s Electric Loan Program. The program funds will be used to update the electric delivery system in Rio Arriba, Santa Fe, Sandoval, San Juan and McKinley counties. The money will also be used to connect 1200 new consumers over a four-year period of time throughout the system, according to a statement released by Rural Development.

Additionally, Jemez Mountain Electric Cooperative will also increase and upgrade its system by building 120 miles of new distribution line throughout the five-county electric service area. The system will also see two new distribution substations. which will be built in Gallina and Cuyamungue.

The USDA Rural Development electric program has financed similar projects throughout the nation for the last 60 years. The program provides funds to be used to expand or improve electric service, support renewable energy efforts and establish energy conservation programs.

The loan is part of USDA Rural Development’s annual budget and is not funded through the American Recovery and Reinvestment Act of 2009.

To celebrate the commitment of the funds from USDA Rural Development, Mr. Brunner presented a certificate of funding obligation to the Jemez Mountain Electric Cooperative board at its monthly board meeting which was held on March 26, 2010, at 1:30 PM at its offices located at 19365 SR 84/285 in Hernandez, New Mexico.

USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development fosters growth in homeownership, finances business development, and supports the creation of critical community and technology infrastructure. Further information on rural programs is available at any local USDA Rural Development office or by visiting USDA Rural Development’s web site at www.rurdev.usda.gov.

March 27, 2010 at 11:34 AM in Economy, Populism, Energy, Rural Issues | Permalink

Comments