USDA Rural Development, Pawnee City Mayor and residents along with Pawnee City Assisted Living Corporation broke ground today for the new $3.5 million assisted living facility. The structure will consist of 14,700 square feet offering 22 resident units of assisted living with licensing for 24 beds.
"It is great to be breaking ground for such a great asset to our community,” said Mayor Charlie Hatfield, Pawnee City. “Thank you to everyone for working together to make this a reality.”
“Today we celebrate the beginning of the assisted living facility by the turning of the soil where the new facility will reside. Interested parties have already voiced their desire to live in the facility. When completed, this project will bring 10 jobs to Pawnee City,” said USDA Rural Development Community Programs Specialist, Janice Stopak.
USDA Rural Development provided $3,163,100 to the City of Pawnee City leveraged with $200,000 from the Pawnee City Development Corporation and $122,895 from donations.
The Rural Development loan of $2,913,000 will be repaid over 40 years and the $147,500 loan will be repaid over two years both at an interest rate of 2.75 percent. The remaining funds, $102,600 are a grant.
The project was funded through the USDA Rural Development Community Facility Loan and Grant program. Visit: http://www.rd.usda.gov/programs-services/community-facilities-direct-loan-grant-program/ne.
For more information, contact Janice Stopak at 402-437-5743 or Janice.stopak@ne.usda.gov.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values.