8 Colo. Code Regs. § 1207-5, pt. 1
Current through Register Vol. 47, No. 18, September 25, 2024
Part 1 - [Effective until 8/30/2024] The Colorado Agricultural Future Loan Program1.1. Section 35-1.2-103, C.R.S., established the Colorado Agricultural Future Loan Program. These rules implement that program.1.2. The Colorado Department of Agriculture (CDA or Department) shall administer the Loan Program. See section 35-1.2-103, C.R.S.1.3. The Loan Program is a revolving loan and grant fund to support the future of agriculture in Colorado. Except as otherwise provided in this rule, money received as loan payments on loans issued from the Loan Program, including interest payments will be credited to the Colorado Agricultural Loan Cash Fund (Fund) created in section 35-1.2-105, C.R.S,. and shall be reused on a continuing basis to support the Loan Program as set forth in C.R.S. 35-1.2-101, et seq.) and the provisions of this rule.1.4. The Department shall, to the extent practicable, attempt to award or distribute a total of at least $5 million but no more than $10 million in the form of Farm-to-Market Infrastructure Loans or Farm-to-Market Infrastructure Grants to Eligible Farmers and Ranchers and Eligible Businesses by June 30, 2022. The Department also shall, to the extent practicable, attempt to award or distribute a total of at least $10 million but no more than $20 million in the form of Low-Interest Loans to Eligible Farmers and Ranchers and Eligible Businesses by December 31, 2022.1.5. The Department shall to the extent practicable prioritize the provision of loans to eligible farmers or ranchers who apply for loans or grants from the Loan Program and who have owned or operated a farm or ranch for less than ten years or who represent a population that is underserved or underrepresented in Colorado agriculture.45 CR 01, January 10, 2022, effective 1/30/2022