Town of Stowe Loan Agreement USDA PACE Loan March 2026
Stowe Approves $2.8M USDA PACE Loan for SED
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Description
The Town of Stowe approved a USDA Powering Affordable Clean Energy (PACE) Loan Agreement with the United States of America, acting through the Rural Utilities Service, for a $2.8 million general obligation bond over 35 years at municipal interest rates. The partially forgivable loan, with 20% forgiveness upon project completion, will finance Stowe Electric Department projects such as Smith’s Falls Hydro and a Mountain Road express circuit.
Contract Details
Contract Amount
$2,800,000 (with 20% loan forgiveness upon project completion)
Vendor
UNITED STATES OF AMERICA ACTING THROUGH THE ADMINISTRATOR OF THE RURAL UTILITIES SERVICE
Agency
Town of Stowe, VT
Contract Type
FINANCIAL_SERVICES
Document Date
March 17, 2026
Contract Term
35 years; Loan Agreement dated March 17, 2026
Renewal Date
2061-03-17
Renewal Info
This is a 35‑year PACE loan under USDA RUS with 20% forgiveness contingent on project completion and compliance with the Community Benefit Plan; no automatic renewals are indicated.
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Vendor
UNITED STATES OF AMERICA ACTING THROUGH THE ADMINISTRATOR OF THE RURAL UTILITIES SERVICE
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