Memo: ReConnect Round 2
December 17, 2019
USDA Releases Details on the 2nd Round of ReConnect.
The United States Department of Agriculture (USDA) has released the highly anticipated details for the second round of funding for the ReConnect Program. The ReConnect Program will provide up to $512M in loan and grant funding to assist with building broadband infrastructure in rural areas of America.
The program establishes three funding categories and allocates the $512M budget amongst the categories.
- 100% Grant: Up to $200M will be available for projects seeking grant funds of 100%. The maximum amount of request in this category is $25,000,000. A 25% matching contribution is required.
- 50/50% Loan/Grant: Up to $200M will be available for projects seeking a combination of both loan and grant funds. A 50% combination is the standard with a maximum request in this category of $25,000,000 in loan funds and $25,000,000 in grant funds.
- 100% Loan: Up to $200M will be available for projects seeking loan funds of 100%. The maximum request amount in this category is $50,000,000.
Download the full memo for additional detail on Eligible Entities, Area Eligibility, Financial Feasibility, and Competitive Scoring.Memo - ReConnect Round 2
For information on this issue or if you would like VPS guidance, please contact these members of the Vantage Point Solutions team:
Kristy Szabo at 605-995-1786
Carmen O’Neill, PE at 605-995-1754