In a move aimed at enhancing the Town’s law enforcement capabilities, the Cape Charles Town Council greenlit a grant application requesting $43,000 for the procurement of a new police car. The decision, made during Thursday’s Regular Meeting will allow the town to submit a FY 2024 USDA Rural Development Grant/Loan application.
The USDA RD would fund these purchases with a $15,050 grant and a $27,950 five-year term loan. Both amounts are included in the 2024 budget.
The current USDA RD interest rate is 3.75% and is not subject to change until January 1, 2024, however, the terms and conditions of the loan are not set at this time and must be adopted by the Town Council before closing.