Letter to Thomas Vilsack, Secretary of Agriculture - US Rural Infrastructure Opportunity Fund

Letter

Dear Secretary Vilsack:

I am writing you today to urge you to utilize the newly announced U.S. Rural Infrastructure Opportunity Fund to assist communities that have long been ineligible for USDA Rural Development Funds due to strict population limits. Many rural communities across New York State have significant infrastructure needs, but do not have access to USDA grants and loans for infrastructure because of program limitations. I encourage you to employ the resources of the Rural Infrastructure Opportunity Fund to provide capital for this unique group of rural communities that have for too long have not had access to traditional USDA funding.

As you know, the Rural Infrastructure Opportunity Fund is a privately capitalized fund structured to complement existing USDA rural development programs. This new and creative approach offers a fresh source of funding for rural infrastructure projects such as water and wastewater systems, energy projects, hospitals, schools, and broadband. It is critical that USDA uses its vast network and existing relationships with rural communities across rural New York to identify and bring together private investors and communities that have in the past not been able to access USDA's existing rural infrastructure programs.

As Rural America continues to transform in order to meet the needs of a twenty first century economy, it is critical that progress is not inhibited by inadequate infrastructure. For example, in New York over sixty rural communities with populations under fifty thousand are ineligible to apply for USDA's Water and Waste Disposal Loans, Loan Guarantees or the Community Facilities Loans, Loan Guarantees, and Grants programs due to population limits. Innovative businesses in these rural communities are seeking to make investments in industries that feed America and drive our bio-based economy, but cannot do so without adequate infrastructure.

I commend you on your innovative efforts to expand access to capital for rural communities across the country, however I encourage you to take this unique opportunity to bridge the funding gap for many of our nation's rural communities that fall outside of USDA's current rural infrastructure programs. Thank you for your attention to this important matter.

Sincerely,

Charles E. Schumer
United States Senator

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