Federal Money To Benefit Two Area Health Care Groups
August 01, 2015
THE ORANGE CITY AREA HEALTH FOUNDATION AND HAWARDEN COMMUNITY HOSPITAL WILL BE THE ULTIMATE BENEFICIARIES OF LOANS AND GRANTS TO AREA UTILITIES ANNOUNCED THIS WEEK BY AGRICULTURE SECRETARY TOM VILSACK. IN ALL, LOANS AND GRANTS WERE ANNOUNCED FOR 92 PROJECTS WORTH $18.1 MILLION TO HELP SUPPORT THE START-UP OR EXPANSION OF RURAL SMALL BUSINESSES ACROSS THE COUNTRY.
ORANGE CITY MUNICIPAL ELECTRIC UTILITY WILL RECEIVE A $1,760,000 LOAN. THAT MONEY WILL WILL GO TOWARD HELPING ORANGE CITY AREA HEALTH FOUNDATION EXPAND ITS RETIREMENT COMMUNITY.
NORTH WEST RURAL ELECTRIC COOPERATIVE WILL RECEIVE A $300,000 GRANT. THAT MONEY WILL GO TOWARD RENOVATING HAWARDEN COMMUNITY HOSPITAL.
OTHER LOANS AND GRANTS AWARDED IN IOWA INCLUDE $300,000 TO THE CITY OF POCAHONTAS FOR RENOVATING AN ELEMENTARY SCHOOL.
THE FUNDS ARE PART OF MORE THAN 20,000 GRANTS AND LOANS TO MORE THAN 85,000 RURAL BUSINESSES USDA’S RURAL BUSINESS-COOPERATIVE SERVICE HAS AWARDED SINCE THE START OF THE OBAMA ADMINISTRATION. USDA IS AWARDING THE FUNDS THROUGH THE RURAL ECONOMIC DEVELOPMENT LOAN AND GRANT (REDLG) PROGRAM, THE INTERMEDIARY RELENDING PROGRAM (IRP) AND THE RURAL BUSINESS DEVELOPMENT GRANT (RBDG) PROGRAM. USDA PROVIDES GRANTS OR ZERO-INTEREST LOANS THROUGH THE REDLG PROGRAM TO UTILITIES THAT IN TURN FUND PROJECTS TO CREATE AND RETAIN EMPLOYMENT IN RURAL AREAS.
THE FUNDING FOR FRIDAY’S AWARDEES IS CONTINGENT UPON THE RECIPIENTS MEETING THE TERMS OF THE LOAN AND GRANT AGREEMENTS.
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