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On October 13, 1994 The Department of Agriculture was reorganized under the Federal Crop Insurance Reform and Department of Agriculture Reorganization Act. Under that Act, USDA Rural Development was created to administer the former Farmers Home Administration's (FmHA) non-farm financial programs for rural housing, community facilities, water and waste disposal, and rural businesses. The former Rural Electrification Administration's (REA) utility programs were also consolidated within Rural Development.
Rural Development's mission statement is "To increase economic opportunity and improve the quality of life for all rural Americans."[1] Rural Development has an $86 billion dollar loan portfolio, and administers nearly $16 billion in program loans, loan guarantees, and grants through their programs. For various reasons, much of this funding currently goes to urban areas to help develop and redevelop suburbs and resort cities.[2]
Operating units
References
- ^ USDA Rural Development: mission statement Retrieved on April 5, 2007
- ^ Gaul, Gilbert M. and Cohen, Sarah (2007). "Rural Aid Goes to Urban Areas: USDA Development Program Helps Suburbs, Resort Cities". Washington Post.
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