[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1703.25]

[Page 39]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1703--RURAL DEVELOPMENT--Table of Contents
 
      Subpart B--Rural Economic Development Loan and Grant Program
 
Sec. 1703.25  Significance of RUS financing to the total project cost.

    Selection of applications will be based on a preference for 
applications requesting RUS financing which will be at least equal to 5 
percent of the total project costs, as determined by the Administrator. 
Projects costs will be based on the amount that would be spent over the 
first 2 years after the first advance of RUS funds for the component or 
phase of the undertaking for which the borrower is requesting RUS funds, 
as determined by the Administrator. The Administrator may determine that 
a component or phase, especially actions necessary to initiate a larger 
project, constitute a distinct project for the purposes of this section.