(Washington, D.C.)–Congressman Jim Langevin today announced that the U.S. Department of Agriculture (USDA) has approved a $753,000 loan to the Hope Valley Ambulance Squad for the expansion of their current station.  The funds were made available under USDA’s Community Facility Direct Loan Program.

 “I am pleased that USDA has approved this substantial loan to improve public safety and services for the residents of Hopkinton and Richmond,” said Congressman Langevin.  “I applaud the efforts of the Hope Valley Ambulance Squad for working in such cramped quarters and know that this loan will allow for growth and expanded services.  The Community Facility Direct Loan program has enabled many communities throughout the nation to make critical improvements to their structures, thereby improving public and private services.”

 The Hope Valley Ambulance Squad will use the USDA loan for renovations to Station 1.  The USDA reports that the present facility consists of one room, which serves as a meeting room, sleeping quarters and training center.  The expanded facility will provide room for membership growth, meet the guidelines of the Americans With Disabilities Act and provide a place for community education purposes.  Both Hopkinton and Richmond are served by the not-for-profit Hope Valley Ambulance Squad.

 According to the USDA, the Community Facility Direct Loan program provides financing to improve or develop essential community facilities in rural areas.  An essential community facility is defined as a public improvement needed for the beneficial and orderly development of a rural community.  Eligible applicants include nonprofit organizations and public bodies such as municipalities, cities, towns, villages, counties and special purpose districts, such as hospital or fire districts, and federally-recognized Indian tribes.

 The $753,000 must be paid back over the period of 40 years at an interest rate of 4.375 percent.

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