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DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service

NOTICE: NOTICES

ACTION: Grants and cooperative agreements; availability, etc.:

DOCUMENT ACTION: Notice.

SUBJECT CATEGORY: Maximum Dollar Amount on Awards Under the Rural Economic Development Loan and Grant Program for Fiscal Year 2007

DOCUMENT SUMMARY: The Rural Business-Cooperative Service, an Agency within the Rural Development mission area, hereby announces the maximum dollar amount on loan and grant awards under the Rural Economic Development Loan and Grant (REDLG) program for fiscal year (FY) 2007. This notice is being issued prior to passage of a final appropriations bill, which may or may not provide funding for these programs, to allow applicants sufficient time to leverage financing, submit applications, and give the Agency time to process applications within the current fiscal year. The awards made as a result of this notice are effective for loans and grants made during the fiscal year beginning October 1, 2006, and ending September 30, 2007. REDLG loans and grants are available to any electric or telecommunications cooperative (borrower) under the Rural Electrification Act that does not have any delinquent debt with the Federal Government that has not been resolved pursuant to 31 CFR 285.13. REDLG loans and grants are to assist in economically developing rural areas.

SUMMARY: Rural Economic Development Loan and Grant Program (FY 2007),

SUPPLEMENTAL INFORMATION

The Regulations for these programs are at 7 CFR part 1703, subpart B. The maximum loan and grant awards are determined in accordance with 7 CFR 1703.28. The maximum loan and grant awards are calculated at 3.0 percent of the projected program levels, rounded to the nearest $10,000; however, as specified in 7 CFR 1703.28(b), regardless of the projected total amount that will be available, the maximum size may not be lower than $200,000. The projected program level during FY 2007 for zerointerest loans is $34,652,000, and the projected level for grants is $10,000,000. Applying the 3.0 percent to the program level for loans, rounded to the nearest $10,000, results in a
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projected maximum loan award of $1,040,000. Applying the specified 3.0 percent to the program level for grants results in an amount higher than $200,000. Therefore, the projected grant award for FY 2007 is $300,000. This notice will be amended should funding in excess of the projected levels be received.
Nondiscrimination Statement
``The U.S. Department of Agriculture (USDA) prohibits
discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or part of an individual's income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA's TARGET Center at (202) 7202600 (voice and TDD).''

To file a complaint of discrimination, write to USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW., Washington, DC 202509410, or call (800) 7953272 (voice), or (202) 7206382 (TDD). ``USDA is an equal opportunity provider, employer, and lender.''

Dated: December 1, 2006.
William F. Hagy III,
Acting Administrator, Rural BusinessCooperative Service.
[FR Doc. E620871 Filed 12706; 8:45 am]
BILLING CODE 3410XYP

FOR FURTHER INFORMATION CONTACT Todd S. Hubbell, Loan Specialist, USDA Rural Development, STOP 3225, Room 6866, 1400 Independence Avenue, SW., Washington, DC 202503225. Telephone: (202) 6902516, FAX: (202) 720 2213.