WASHINGTON - Chuck Grassley today said that the U.S. Department of Agriculture, Office of Rural Development has awarded a $2,350,000 loan to Iowa Regional Utilities Association, which serves Jasper and Marshall Counties, through the Water and Waste Disposal Loan Program.
Iowa Regional Utilities will use the funds to construct two new water towers and booster pumps to provide better service to existing users of the water system.
“Easier access to quality water will increase economic opportunity in these communities,” Grassley said.
The Rural Economic Development Loan and Grant Program provides loans and grants to rural utility and telephone cooperatives who, in turn, re-lend the loan funds to local businesses to create or retain jobs in rural areas.
Each year, thousands of local Iowa organizations, colleges and universities, individuals and state agencies apply for competitive grants and loans from the federal government. The funding is then awarded based on each local organization or individual’s ability to meet criteria set by the federal entity.