Archive for January 25, 2012

Tennessee’s 2012 REAP Grant Allocation Slashed

We have received notification of our allocation in Tennessee for the Rural Energy for America Program (REAP) for Fiscal Year 2012:

Grants of $20,000 or less: $136,000 (28% of last year’s level)

Grants over $20,000: $141,000 (18% of last year’s level)

Guaranteed Loan: $1,324,933.18 (83.22% of last year’s level)

Currently, we have 25 applications requesting $2.5 Million in grant vs. $277,000 in grant for allocation. The National Office will hold back $2.8 Million in reserve for competition between the States.

This is a huge reduction over previous funding levels, we will make all efforts to fund as many projects as we can given the circumstances.