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ASCS News
By TOM G. TAYLOR
The Department of Agriculture will soon begin approving grants to help finance the construction of fuel alcohol and methane plants on the nations’s farms.
The Department of Energy is supply $2.3 million which will be used to supplement loans and loan guarantees from the USDA’s Farmers Home Administration to boost alcohol production.
Under an agreement between the Departments of Agriculture and Energy, the funds are to be used to test and demonstrate on-farm fuel production and investigate the economic feasibility of such production.
The Farmers Home Administration has set aside $10 million in farm loans and $100 million in business and industry loan guarantees for alcohol and methane production. The agency has no grant funds of its own for this purpose.
This cooperative effort with the Department of Energy will make it possible to provide up to 25 percent of the cost of an alcohol or methane plant on a costsharing basis. This will greatly extend the reach of Farmers Home loan dollar.
The percentage of the costsharing grant will gradually be reduced on larger projects so that the maximum amount of grants will be $50,000. But on a smaller $50,000 project, the full 25 percent would be possible.
Applications meeting general requirements are NOW being processed by Farmers Home Administration so that qualified projects can be funded as soon as possible.
Call your Rappahannock County ASCS Office for
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