Washington, DC – Congresswoman Rosa L. DeLauro (Conn. -3) announced that Connecticut will receive approximately $25.9 million through the American Recovery and Reinvestment Act for the Single Family Housing Guaranteed Loan Program to help spur economic and home ownership opportunities in rural Connecticut.

“With this funding we are ensuring that families in rural Connecticut are still able to reach the goal of owning a safe, good home. Families in every corner of this country have been impacted by the recession and this funding is one example of how we are making sure that rural America is part of the recovery,” said DeLauro.

Funding from the American Recovery and Reinvestment Act (ARRA) will initially provide 15,000 rural families with $1.76 billion in loan guarantees for homeownership financing, creating or saving approximately 7,500 jobs. Once all Recovery Act funding for rural housing is released ($7 billion directly to states and $3 billion held in reserve for higher need areas), it is estimated that 42,500 jobs will be created or saved. A state breakout of rural housing funding announced today is available at http://www.rurdev.usda.gov/ARRASFH.pdf.

USDA’s housing programs are designed to improve the quality of life for rural Americans by ensuring that they have access to safe, well-built, affordable homes. The programs finance new or improved housing for very low- to moderate-income families and individuals in rural areas.