First Selectman, Mark Walter has announced that East Haddam has received the opportunity to finance some long-term capital improvements through the USDA Rural Development Program. The town applied for both grant and loan monies from the USDA in December 2013, for improvements to the elementary school, renovations to the former middle school for a municipal complex and firehouse upgrades.
While the grant application was for $8 million, the federal government only appropriated $100 thousand in USDA grants to the entire State of Connecticut. Walter acknowledged disappointment at not receiving any grant proceeds which would certainly have gone a long way in helping with these projects, according to a statement.
The main source of the funding will be in a low interest “line of credit” loan for up to $20 million. Walter added that “an approval of this amount is extraordinary for a small town like East Haddam.” … Continue Reading