Funding for Arts Center Includes $50,000 Federal Grant and $2.95 Million in Low Interest Federal Loan

WASHINGTON, DC, March 18, 2010 -– Thursday, U.S. Rep. Michael Arcuri (NY-24) announced that the Arts Guild of Old Forge has received a Community Facilities Direct Loan and Grant from U.S. Department of Agriculture (USDA) – Rural Development.

The Arts Guild will receive a federal grant worth $50,000 and a low interest loan for $2,950,000 to complete construction of a new facility.  The funds will create twenty five additional construction jobs, and create eight new permanent positions at the Arts Center.

“I’m glad to be able to announce this Federal funding for the Arts Center, which is essential to our rural communities in northern Herkimer County,” said Arcuri.  “This investment will create jobs now and provide an economic boost for the entire region.  I am proud to have been able to support the Center’s application for Federal competitive grant funding that will see this important project through to completion.”

"Rural Development is extremely pleased to provide this $2.95 million loan and $50,000 grant to the Arts Guild of Old Forge," said Jill Harvey, State Director for USDA Rural Development in New York. "The loan and grant will help the Arts Guild complete their new arts center, which will serve as an engine for cultural and economic development in the Old Forge area and beyond. I also want to thank Rep. Michael Arcuri for his support of this project and for his continued support of USDA Rural Development."

“The Arts Guild of Old Forge is very grateful for this loan guarantee made possible through the USDA Rural Development program and continued support of Representative Arcuri.  When we open the doors of the only “green-built and green-operating’ arts and sciences center in the Adirondack Park, we will welcome over 45,000 visitors, proving that we are an essential economic development engine for Upstate New York,” said Jennifer Potter Hayes, Executive Director of the Arts Guild. “This new 27,000 square-foot Arts Center will offer the region a unique and comprehensive source of artistic, theatrical, educational, ecological, and community programming. We are grateful for the positive response to our capital campaign from individuals, businesses, and our elected officials, recognizing the importance of this cultural anchor in our community.”

The Arts Guild has chosen to register the project under the U.S. Green Building Council’s LEED Green Building rating system and will seek to minimize its impact on the environment through all aspects of its development including design, construction and occupancy.  Construction on the facility is presently 65 percent complete and more than 65 percent of the funds have been privately raised.

The funding announced today is being provided through USDA Rural Development’s Community Facilities program, which helps finance essential community facilities for public use in rural areas including child care centers, hospitals, medical clinics, assisted-living facilities, fire and rescue stations, police stations, community centers, public buildings and transportation. Public bodies and non-profit organizations are eligible to apply for funding.   Arcuri had previously submitted a request for earmarked funding through the Federal Appropriations process.  Each year, both the number and amount of earmarks are reduced.