Staff Writer
PRESQUE ISLE — A local organization is joining a federal agency to provide housing opportunities for eligible applicants.
USDA Rural Development State Director Virginia Manuel and Aroostook County Action Program Executive Director Connie Sandstrom are joining in the creation of a Memorandum of Understanding on Homeownership Program, with a signing ceremony planned for Wednesday, Sept. 19, at ACAP headquarters, 744 Main St. in Presque Isle. The event will take place at 1 p.m.
The program is designed to increase housing opportunities to qualified individuals.
“As part of an effort to increase homeowhership opportunities in the region, USDA Rural Development and Aroostook County Action Program will sign a Memorandum of Understanding which will enable ACAP to assemble application packages for the USDA Rural Development Section 502 Direct Single Family Housing Program,” said Emily Cannon, public affairs representative for USDA Rural Development.
Under the Single-Family Housing Direct Program USDA Rural Development provides loans to applicants whose incomes are less than 80 percent of the median income for the area. Cannon said subsidy can reduce the effective interest rate to 1 percent.
“This program can be used to purchase or construct a home in rural areas of Maine,” she said.
“During the past decade, the partnership between RD and ACAP helped pave the way for approximately 300 eligible Aroostook County residents to become better informed consumers as well as first-time homebuyers,” said Cannon.
For more information, call Cannon at 990-9175 or e-mail Emily.cannon@me.usda.gov.
