News coming out of the Housing Assistance Council (HAC) suggests that there may still be hope for future USDA Rural Development loans.
Nebraska Congressman Jeff Fortenberry recently wrote to the house leadership asking for a one year extension to the grandfather clause that allowed any community that was "rural" in 1990 to continue to be eligible for USDA Rural Development funding until the 2010 Census, as long as it had a population below 25,000. Currently, the clause is due to expire on October 1st.
The letter was signed by 24 members of the House, including Utah Congressman Jim Matheson.
Although there is much uncertainty ahead, this is a very good sign that efforts are being made to sustain this vital lifeline for lower income home buyers in many parts of Southern Utah and beyond.
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