Four miles of new distribution lines will be among the improvements made with a $1,397,000 loan from U.S. Department of Agriculture Rural Development to the Oneida-Madison Electric Cooperative.
USDA Rural Development State Director Jill Harvey presented more than $6 million in electric loans Thursday to the Oneida-Madison and Otsego electric cooperatives. The presentation took place at the annual state Rural Electric Cooperative Association meeting at the SUNY-Delhi campus.
"One of our agency’s primary missions is to improve the quality of life in rural communities and supporting the critical modernization of infrastructure in rural New York is one of the ways we achieve that mission," said Harvey. "These funds will be used to improve distribution lines and maintain existing ones, improving services for customers throughout the two cooperatives’ service areas."
The funds were awarded through USDA Rural Development’s Electric Loan Program and may be used to expand or improve electric service, support renewable energy efforts and establish energy conservation programs.
The Oneida-Madison Electric Cooperative will use its funding to build four new miles of distribution line, make improvements on 11 additional miles of line and upgrade other parts of its electrical system.
The Otsego Electric Cooperative, which serves portions of Otsego, Chenango, Herkimer and Madison counties, received a $4,773,000 electric loan. The cooperative will use the funding to build 34 new miles of distribution line and make other system improvements.
The New York awards are part of $1.55 billion in loans and loan guarantees that were awarded to 35 rural electric cooperatives in 20 states. More than 54,000 customers will benefit from infrastructure improvement projects funded through this round of loans and loan guarantees.
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development administers and manages more than 40 programs; fostering growth in home-ownership, financing business development and supporting the creation of critical community and technology infrastructure.
