Agricultural grants and loans approved

More than $1.8 million to invested across state

OWENSBORO, Ky. (Oct. 17, 2014) — Today the Kentucky Agricultural Development Board and the Kentucky Agricultural Finance Corporation approved a combined total of $1,888,794 in grants and loans during their monthly business meetings at the Owensboro Convention Center.

Approved grants and loans:

Environmental Stewardship

• The Deceased Farm Animal Removal Program serves as a measure to facilitate the coordination of environmentally sound and cost-effective disposal of deceased livestock for Kentucky producers. A Deceased Farm Animal Removal Program was approved for Shelby County, totaling $7,500.

High School Greenhouse

• Washington County Board of Education was approved for $35,000 in Washington County funds for the construction of a 72-foot by 30-foot greenhouse. The greenhouse will be located at the new Washington County High School campus. It will be used teach horticulture and plant science fundamentals, as well as the principles of business and marketing.  Students will produce and sell annual flowers, ornamentals and vegetables.  For more information about this project, contact Bart Mattingly, agriculture teacher/FFA advisor, at 859-336-5475, 859-805-2120 or [email protected].

On-Farm Investments

• The County Agricultural Investment Program (CAIP) is designed to provide farmers with incentives to allow them to improve and diversify their current production practices.  CAIP covers a wide variety of on-farm agricultural enterprises in its 10 investment areas, including production, marketing and value-added processing. Six CAIPs were approved by the board totaling $633,000 for Ballard, Caldwell, Carroll, Graves, Marshall and Simpson counties.
• In addition to these new approvals, an additional $27,500 was approved to supplement an existing CAIP in Cumberland County.

Market Renovation, Certified Kitchen Expansion

• Family Fields iMarket LLC was approved for $23,149 in Washington County funds for the expansion and renovation of its existing facility in Springfield. Funds will be used for kitchen equipment related to the expansion of the certified kitchen and other facility improvements. These improvements will allow for an increase in value-added processing capabilities for area farmers on a lease basis.  For more information about this project, contact Steve Smith, co-owner, at 859-481-4194 or [email protected].

Youth Heifer Chain

• The Taylor County Cattlemen’s Association Inc. was approved for $7,500 in Taylor County funds to implement a youth heifer chair program for beef and dairy.  The program is available to qualified Taylor County 4-H/FFA youth ages 9 to 15 and is designed to get more youth involved in the livestock industry. For more information about this project, contact Amanda Sublett, 4-H extension agent, at 270-465-4511, 270-469-0431 or [email protected].

Shared-Use Equipment

• The Shared-use Equipment Program is designed to benefit a high number of producers who cannot justify ownership expenses associated with certain equipment by helping them access technology necessary to improve their operations in an economical manner.  Shared-use Equipment was approved by the board in the amount of $81,545 for Carroll, Logan (3) and Monroe counties.

Agricultural Infrastructure Loan Program (AILP)

• Through AILP, KAFC participates with lenders to provide financing to producers making capital expenditures for agricultural projects. Eligible projects include permanent farm structures with attached equipment that improves the profitability of farming operations.  Six Agricultural Infrastructure loans were approved for $389,600 to recipients in Bourbon, Calloway, Cumberland, Taylor, Warren and Washington counties.

Agricultural Processing Loan Program (APLP)

• APLP is designed to provide loan opportunities to companies and individuals in Kentucky interested in agricultural processing.  KAFC will provide and/or participate in loans in Kentucky that add value to Kentucky grown agricultural commodities through further processing.  These loans may cover construction of a new facility and renovation/expansion of an existing facility.  One processing loan was approved for $150,000 to a recipient in Jefferson County.

Beginning Farmer Loan Program (BFLP)

• BFLP is designed to assist individuals with some farming experience who desire to develop, expand or buy into a farming operation.  Beginning farmers may qualify for financing to purchase livestock, equipment or agriculture facilities; to secure permanent working capital; for the purchase farm real estate; or to invest in a partnership or LLC.  Beginning Farmer loans totaled $534,000 and included three recipients from Marion, Ohio and Washington counties.