"Federal funding from the USDA plays a critical role in providing Maine's rural communities with the tools they need to improve community infrastructure and encourage business growth," Senators Snowe and Collins said in a joint statement. "As a result of this recent funding, the Pleasant Point Passamaquoddy Reservation and the Passamaquoddy Water District will be able to make long-overdue enhancements to the area's water supply infrastructure. Somerset Economic Development Corporation and the City of Presque Isle will use these funds to provide economic stability through job creation and retention."
The federal funds were allocated as follows:
• $1,000,000 water and waste disposal grant to the Pleasant Point Passamaquoddy Reservation to rehabilitate 3 pump stations, replace pumps, and add backup generators.
• $300,000 water and waste disposal grant and $100,000 loan to the Passamaquoddy Water District to replace water lines that are over 100 years old. The loan is for 40 years at 4.5 percent.
• $67,467 rural business enterprise grant to the Somerset Economic Development Corporation to establish a loan fund to serve small business enterprises in Somerset County. This project is expected to retain or create 30 jobs, assisting 4 local businesses.
• $67,466 rural business enterprise grant to the City of Presque Isle to help expand the Winter Sports Center located primarily in Presque Isle, in anticipation of hosting the 2006 Biathlon Junior World Championships, which is expected to bring an estimated 20,000 spectators into the community. This project is expected to retain or create 117 jobs, assisting 4 local businesses.
The USDA Rural Development project provides guaranteed loans, approved loans, and approved grants. Rural Development is committed to helping improve the economy and quality of life in rural America. The loans and grants are used for community programs, which seek to construct or improve community facilities for health care, public safety, and public services.
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