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DNR News >
Recent Releases
This is a joint press release from the three cooperating agencies (DNR, IDALS and IFA). Low Interest Loan Programs for AG Producers to Combine
DES MOINES – After a successful three years, a low interest loan program for livestock operations will merge with a similar program designed to improve soil and water conservation, with funding to increase for both. The programs offer low interest loans – 3 percent or less – for water quality-related improvements on agricultural land. The Iowa Department of Agriculture and Land Stewardship, Division of Soil Conservation (IDALS-DSC) will now operate both programs. “This will make the local soil and water conservation district office the one-stop shop for producers who want to finance water quality improvements on their farms,” said Secretary of Agriculture Bill Northey. “Streamlining this program so that agricultural partners and bankers have better access to it shows state government’s commitment to water quality in Iowa,” said Iowa Finance Authority (IFA) Executive Director Bret Mills. IFA is the programs’ financial agent. Producers will now have one loan application form, one application process and one Web site to consult when considering an improvement on their farm. “Based on landowner response, I am pleased to announce a proposed increase in the available funding, going from $14 million in fiscal year 2008 to $18 million for the coming fiscal year starting in July,” said Richard Leopold, Director of the DNR. The DNR will seek approval of the increase at the Environmental Protection Commission meeting in June. “We can attribute much of the increased interest in the program to the work of the Iowa Agricultural Development Authority which helped launch the livestock loan program,” Leopold said. Loans are available for projects such as grass waterways, terraces, pasture or hayland planting, streamside forest buffers and filter strips. Eligible livestock projects include equipment for manure management, developing manure management plans, and construction of lagoons or other manure management structures. Livestock producers must have a combined total of less than 1,000 animal units. That is the equivalent of 1,000 beef cattle, 700 mature dairy cattle or 2,500 finishing swine. Depending on the project, loan terms can vary up to 20 years. Producers can finance up to 100 percent of the project cost with loans starting at $5,000. Applications are available on the IDALS Web site at: http://www.iowaagriculture.gov/FieldServices/waterQualityLoanFund.asp. The loan programs are part of the Iowa State Revolving Fund (SRF). Under an agreement with the U.S. Environmental Protection Agency, the SRF is administered by the DNR in partnership with the Iowa Finance Authority. For more information, contact Patti Cale-Finnegan, DNR State Revolving Fund Coordinator, (515) 725-0498 or patti.cale-finnegan@dnr.iowa.gov. MEDIA CONTACTS:
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