The ribbon was cut today by housing partners to celebrate the grand opening of Eastward Village Apartments in McCook, Nebraska. The complex is a 27-unit affordable apartment housing complex for elderly and handicapped residents.
“We are pleased and excited about being able to participate in bringing Eastward Village Apartments to the community of McCook,” said Nebraska State Director Maxine Moul, USDA Rural Development.” The apartments became a reality when the final piece of the financing was provided by an $807,000 loan from Bonneville Mortgage Company guaranteed by USDA Rural Development’s Guaranteed Rural Rental Housing Program (GRRH). Eastward Village Apartments will be a great asset to the City of McCook and provides the rental housing needed.
The GRRH program is intended to produce new affordable rental housing as well as the rehabilitation and conversion of existing buildings, such as the East Ward School building. Along with financing provided by lending partners, Nebraska Investment Finance Authority, McCook National Bank and Federal Home Loan Bank of Topeka, and the City of McCook, the building was converted into 15 apartments. Along with construction of six new duplexes, twenty-seven apartments are available to serve rural residents with low and moderate incomes. Eastward Village Apartments is Managed by McCook Housing Agency.
USDA Rural Development is proud to provide affordable housing to McCook and other rural communities with less than 20,000 in population as an important component to their infrastructure. The United States Department of Agriculture (USDA) remains focused on carrying out its mission, despite a time of significant budget uncertainty. Today’s announcement is one part of the Department’s efforts to strengthen the rural economy.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, has a portfolio of programs designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
USDA has made a concerted effort to deliver results for the American people, even as USDA implements sequestration – the across-the-board budget reductions mandated under terms of the Budget Control Act. USDA has already undertaken historic efforts since 2009 to save more than $828 million in taxpayer funds through targeted, common-sense budget reductions. These reductions have put USDA in a better position to carry out its mission, while implementing sequester budget reductions in a fair manner that causes as little disruption as possible.