LEXINGTON — USDA Rural Development State Director Tom Fern has announced $1.05 million in USDA loan funds for the City of Tompkinsville to upgrade the community’s natural gas services.
Rural Development funds will be used to replace older deteriorating gas pipeline with new 2- and 4-inch piping and install new customer service lines from the gas main line to the customers’ meters in order to alleviate gas leaks and insufficient service and provide a safe and reliable source of natural gas for customers in Tompkinsville in rural Monroe County. The loan repayment terms are 40 years at an interest rate of 4.375 percent.
“The harsh winter experienced this year in Kentucky is a reminder of the importance of having access to a safe and reliable supply of heating fuel,” said Fern. “USDA Rural Development is pleased to be able to assist the City of Tompkinsville with the financing needed for making these natural gas service improvements.”
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.