Piedmont EMC Awards $750,000 Rural Economic Development Loan to the Town of Yanceyville

Hillsborough, NC (September 25, 2015) – The Town of Yanceyville is expanding its municipal fire station with the help of Piedmont Electric Membership Corporation. Piedmont EMC has awarded the Town a $750,000 zero-interest loan to aid in the expansion of the Yanceyville Municipal Fire Department.

The loan funds are available in partnership with the United States Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant (REDLG) program, which provides zero-interest funding to local electric cooperatives, such as Piedmont Electric. The cooperatives, in turn, lend this money to local businesses and governments for projects that support rural areas.

The loan is for the addition of 4,916 square feet to the Yanceyville Fire Department building, which was constructed in the late 1960’s. The new addition is of masonry construction, containing two truck bays with 13’x14’ glass bay doors, training room for approximately 40 persons, sleeping quarters for four firefighters, accessible restrooms with showers, storage areas, two offices and a reception/work area.  The project also includes reroofing, masonry facade, and egress improvements to the existing building that include replacement/upgrade of the existing bay doors to match the two new glass bay doors, site work, and additional paved off-street parking for 15 vehicles.

According to Town Manager Brian Collie, “Partnering with Piedmont Electric through their community loan program made this project possible. We have been able to enhance the functionality of our fire station, including the addition of training facilities, as well as enhance the look of our downtown area.”

“Piedmont Electric is proud to support this project,” says President and CEO Randy Brecheisen. “The cooperative’s structure was created to support the community. This zero-interest loan allows us to support our communities far beyond our electric service.”

A portion of the funds, once repaid, will be added to the electric cooperative’s community revolving loan fund, which will be re-loaned to assist with future projects in the Piedmont Electric area.

Piedmont Electric Membership Corporation, a Touchstone Energy Cooperative headquartered in Hillsborough with district offices in Person and Caswell Counties, is a nonprofit electric utility serving 31,000 members in parts of Alamance, Caswell, Durham, Granville, Orange and Person counties. You can learn more about Piedmont Electric by visiting our website, pemc.coop, liking us on Facebook at facebook.com/PiedmontEMC, or following us on Twitter @PiedmontEMC.