14—Lancaster Farming, Saturday, September 23, 1972
Farmers Home Administration
Revises Rural Housing Program
The U.S. Department of
Agriculture (USDA) has moved
to stimulate the production of
rental housing for the elderly and
for low-and moderate-income
families in rural areas.
James V. Smith, Administrator
of USDA’s Farmers Home Ad
ministration, today announced
new regulations that will benefit
rural families, ranging from
newly-formed ones not ready for
home ownership to the elderly for
whom little provision is made in
most small towns.
Farmers Home Administration
is a direct mortgage lender in
rural areas, including towns with
a population of 10,000 and less. In
this program, mortgage finan
cing up to $750,000 may be
available for the cost of
development of rental housing
projects, including the purchase
and improvement of land,
recreation, service facilities and
water and waste disposal as well
as landscaping.
Benefits for elderly persons as
well as for others whose incomes
are in the low to moderate range
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M. S. YEARSLEY & SONS
West Chester
WENGER IMPLEMENT, INC.
The Buck
EDWIN HURST INC.
Adamstown, Pa. 215-484-4391
Elm
are expected from these
changes:
1. There is no residency
requirement for borrowers who
designate a local managing agent
with full authority to act for
them. Previously the borrowers
was required to live near and
supervise the project.
2. Performance bonds or some
form of assurance will be
required for all projects of $60,000
or more.
3. The developer an in
dividual, partnership or cor
poration is expected to furnish
construction financing, giving
flexibility to his building
schedule. Interest on the con
struction loan may be included in
the rental housing loan as a cost
of development.
4. Limited profit borrowers
who will build rental housing for
low-income families are now
eligible for interest rates as low
as one percent. Previously this
rate was offered only to nonprofit
or public body applicants.
5. Limited profit borrowers will
be allowed a six percent return on
LANDIS BROS. INC.
Lancaster 393-3906
A. B. C. GROFF, INC.
New Holland
696-2990
284-4141
SHOTZBERGER'S
665-2141
354-4191
their initial investment. The loan
will be limited to 95 percent of
either the development cost or
the value of security, whichever
is less. Nonprofit borrowers may
receive 100 percent financing. All
borrowers must have working
capital at least equal to two
percent of the value of the loan.
6. Rural rental units may now
be made available to those of
very low income through special
arrangements with the Depart
ment of Housing and Urban
Development under its Section 23
leasing program.
The FHA borrower leases his
completed rental units to a local
public housing authority which
manages the property. HUD pays
the difference between the rent
the family can afford and the
rental rate established for the
apartment.
FHA expects these changes to
materially increase the supply of
rental housing for rural people,
according to Mr. Smith.
Presently the budget allocates
$7O million for this purpose,
double a year ago, and it is ex
pected to continue to grow in
subsequent years.
Pa. Proposes End to
Double Inspections
The Pennsylvania Department
of Agriculture has announced it
will submit a proposal to the U.S.
Food and Durg Administration
designed to eliminate duplication
of effort in the area of inspection
of food and medicated livestock
feed and laboratory analyses.
At present both state and
federal agencies are visiting the
same establishments. The
contract offer to have state in
spectors take over the federal
functions is due by October 20,
1972.
Pennsylvania Secretary of
Agriculture Jim McHale said
that state inspectors can perform
all of the necessary functions to
assure the processing and
manufacture of uniform, high
quality products in the Com
monwealth. This program would
provide the consumer and the
farmer with wholesome, high
quality products and maintain
markets for the affected
businesses, according to McHale.
Congressional action has
allocated up to 4.4 million for the
transfer of this responsibility
from the FDA to the states with
an estimated net saving of state
federal monies nearly equal to
the federal funding.
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FAEE ESTIMATES
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FARM LANES 9
LONG DRIVES
PARKING AREAS ESvS?
WALKWAYS
S. M. McMinn, Inc.
POST OFFICE BOX 845
LINCOLN HIGHWAY EAST
MR. RICHARDSON LANCASTER - PENNSYLVANIA
MR. McMiNN Phone 299-2864
USDA Estimates Of 1959-71
Farm Income Available
The U. S. Department of
Agriculture’s Economic
Research Service has issued
estimates of marketing receipts,
gross and net income per farm,
production expenses, and
government loans by States for
1959 through 1971.
State estimates for 1969 and
1970, published previously, have
been revised in line with more up
to-date information on produc
tion, marketings, prices and loan
activity.
The estimates are on a
calendar-year basis and are
coordinated with the national
income and product accounts and
State and regional income
estimates of the Department of
Commerce.
The report notes that California
led the Nation in marketing
receipts from farming last year
with $4.9 billion; lowa was second
at $4 billion. California farmers’
production expenses were also
the largest, at $4 billion, followed
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REISTERSTOWN,
MARYLAND
833-1840
Builders Since 1953 /
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RDI, Box 77 Kinzer, Pa. 17535
Phone 717-768-3873
by lowa producers’ costs of $3.4
billion. These States were also
first and second in realized net
farm income in 1971.
Tables in the report cover the
following topics: Leading States
for cash receipts, 1971; States
ranked by cash receipts, 1971;
Realized gross, net and total
income per farm, by States 1959-
71; Realized gross -and net in
come from farming by States,
regions, and the U.S.; Farm
production expenses by States,
1959-71; Cash receipts by com
modities and groups, by States,
regions, and U.S. 1969-71;
Government payments, by
programs and States, 1969-71.
Chestnuts
The horse chestnut is a
member of the buckeye fam
ily, while the true chestnut
belongs to the beech family,
along with the oak.
Pole-type
Farm ®
Buildings