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HomeMy WebLinkAboutThe Goderich Signal-Star, 1987-03-18, Page 39Financial programs. • from page 18 - - Training, travel and srelocation assistance as well . as self-employment Lgrant of up to $180 per week for up to 26 'weeks are available to eligible persons. - Wage incentives to employees of up to -$3.50 per hour forup to 40 hours a week for a period of up to 26 weeks is also available. - Farmers who ceased farming between February 26, 1986 and September 1, 1986 must apply. for assistance before March 1. 1987. Those ceasing 'farming after September 1, 1986, may apply up to six months after ceasing farming' or wind- . down their operationno later than three j. months after filing an application. Final date is March 31, 1988. - Application for this program should be made through the Canada Employment Centre. - 3. Federal Farm Debt Review Act - This review. process ensures -that farm operations in financial difficulty, or ac- tually facing a farm foreclosure situation, have access to an impartial third -party review of individual farm circumstances and possible . financing/refinancing op- tions. A. voluntary agreement between a farmer and his creditor(s) for a mutally - satisfactory arrangement will be sought. - There are two types of applications: for an insolvent farmer and d a farmer in financial difficulty. = Any -creditor intending to foreclose on a farmer must provide him' with written notice, at least 15 business days before tak- ing any action, of these intentions and must advise him of the right to a review. - The Act allows for a stay of pro- .ceedings for an initial 30 days and this stay may be extended at 30" -day intervals for a total period of up to 120 days. There is no power to impose debt reduction. - Application forms are available at the Farm Credit Corporation office and at the local offices of the Ontario Ministry of Agriculture and Food. D. Term Loans 1. Ontario Young Farmer Credit Pro- gram - an ongoing program, it -provides a guarantee to the. bank on term loans for, persons under 35 years of age. Interest rate equals prime plus 1 percent and is floating. 2. Ontario Tile. Drainage Loans - ten- year loans for up to 75 percent of the<cost of tile drainage - at - 8 percent available through local municipal offices. Financial Incentive Programs A. 1. Ontario Soil Conservation and En- vironmental Protection Assistance Pro- gram (OSCEPAP II) - this is a major thrust to reduce soil erosion and improve water quality. Benefits were enhanced in January 1987. Extra staff resources have been allocated to advisory services and 'educational programs. The erosion control grant provides up -to 662,3 percent of the eligible cost of work on approved projects to a maximum of $10,000. A manure storage grantisavailable for up to 40 per- cent -of the eligible cost of work on an ap- • proved storage project up to a maximum of $7,500 per farm operation. 2. Enhanced OSCEPAP II - The enhanc- ed Ontario Soil Conservation and En- vironmental Protection - Assistance Pro- gram - OSCEPAP II,` provides additional - financial assistance to farmers undertak- ing soil erosion control and environmental protection projects. Under the terms of this program, the Ministry of the Environ- ment will supplement the grants • paid by - the Ministry of Agriculture and Food in certain target watersheds within .the - province. For erosion control projects the enhance- ment will be equal to 75 percent of the eligi- ble cost, less. the basic-OMAF grant, up to -'Turn to page 22 • Pago IT'S CM NGE TI Save now on .qu = Dity filters to pr c tect ert9 cars and trucks. your far; i equip 114406 tor Case +` Tractors �S689 1 F3313A for Ford'8{Chrysler A spent filter can't trap contaminants that rob your engine of performance and increase the risk of engine damage. It takes just a few moments to protect your engine and there's no better time than today. We have a complete stock of filters for your farm equipment and vehicles ... oil filters, fuel faiiters, hydraulic filters and air filters. It's Change 11 tea ForSetler Protection,. For ether Performance. Retool now with specie values n CASE IH T A Hap Pats. BREAKER Save on SWEEPS, SHOVELS POINTS, E ARES . . Whatever your Plee s BLJYNOW, SALE ENDS MARCH 31 CASE 1H 71/2" SWEEP with b ids $4�® Cash And Carry - MUni n m f uantity 25 II C.A. ECKER EQUIPMENT LIMITED LUCKNOW ,.� t 529-7 101 MEM 93