Over $42 Million in USDA Electric Loans Approved for Cooperatives in Kentucky
Friday, October 24, 2008
U.S. Rep. Harold "Hal" Rogers (KY-05) announced that the U.S. Department of Agriculture - Rural Development (USDA-RD) has approved $42,607,000 in electricity investment loans to three cooperatives in Southern and Eastern Kentucky. These low-cost federal loans provides for infrastructure investments to enhance utility services throughout the Commonwealth.
“Providing reliable and efficient electricity services is essential to the growth and prosperity of rural America,” stated Rogers. “These funds will reduce outages and get power to growing businesses and expanding neighborhoods. Kentucky continues to have some of the lowest energy rates throughout the country and I applaud the leadership of these energy cooperatives and USDA-RD in working together to advance our future energy delivery needs.”
The Licking Valley Rural Electric Cooperative Corporation has been approved for an $11,978,000 loan to build or improve over 75 miles of distribution lines to provide enhanced service to 2,000 new and existing consumers. The Licking Valley Rural Electric Cooperative Corporation is located in West Liberty, Kentucky and serves Elliott, Breathitt, Lee, Magoffin, Menifee, Morgan and Wolfe Counties.
The Jackson Energy Cooperative Corporation has been approved for a $19,695,000 loan to build or improve 190 miles of distribution lines to serve 2,375 new and existing customers. The Jackson Energy Cooperative Corporation is located in McKee, Kentucky and serves Lincoln, Breathitt, Clay, Jackson, Laurel, Lee, Leslie, Owsley, Pulaski, Rockcastle, Wolfe, Estill, Garrard, Madison and Powell Counties.
Finally, the Fleming-Mason Electric Cooperative, Inc. has been approved for a $10,934,000 loan to build or improve 214 miles of new distribution lines to serve 1,200 new and existing customers. The Fleming-Mason Electric Cooperative is located in Flemingsburg, Kentucky and serves Bath, Bracken, Fleming, Lewis, Mason, Nicholas, Robertson, and Rowan Counties.
Rogers is a senior member of the House Appropriations Committee, which provides funding to the U.S. Department of Agriculture to make grants and loans for rural development projects.