U.S.
Department of Agriculture to Provide $16.3 million
in Loans to Promote Rural Development in California
May 21, 2002
Washington,
DC - The U.S. Department of Agriculture has approved $16.3
million in loans to promote rural economic and community development
in Tuolumne, Napa, and Monterey Counties, Senator Dianne Feinstein
(D-Calif.) announced today.
"These
loans are very welcome and will enhance the quality of life in rural
California communities," Senator Feinstein said. "As
a result of the USDA Rural Development loans, Californians living
in rural areas will benefit from increased economic opportunities
and improved community facilities. These funds will preserve and create
jobs, promote the expansion of business in these areas, and improve
the services residents receive."
Specifically, the USDA announced that:
- A $12.7 million Business and Industry Guaranteed Loan will be given to Portola Minerals Company, Inc. in Tuolumne County to finance a mining facility. In addition to preserving 60 jobs, this loan will create another 20 jobs for Tuolumne County residents.
- A second Business and Industry Guaranteed Loan of $3 million will be provided to Mobius Partnership, Ltd. in Napa County. The funds will be used provide a line of credit for a winemaking facility and to create 20 jobs.
- A $620,000 Water and Waste Disposal Direct Loan will be given to the City of Gonzales in Monterey County. The city will use the funds to replace and upgrade sewer trunk lines in order to increase flow to the local sewage treatment plant.
For more information about the USDA Rural Development Project or the loans, please contact Paul Venosdel at 530-792-5800.
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