Ripon College announced today that it is the recipient of a $14.3 million fixed-rate low interest loan from the U.S. Department of Agriculture (USDA) Rural Development division to help finance the cost of renovating and expanding the J.M. Storzer Athletics, Health and Wellness Center.
The funds, provided through the Community Facilities Direct Loan program, are designed to develop essential community facilities and foster economic growth and development in rural communities across the country. Ripon Mayor Gary Will and area businesses such as Agnesian Healthcare wrote letters of support during the USDA application process for the upgraded health and wellness facilities and Ripon College’s efforts to continue its role as an economic driver to the region.
“This collaborative project seeks to promote public access to community wellness facilities and spur investment in Ripon and the surrounding rural communities,” said Stan Gruszynski, USDA Rural Development Wisconsin State Director. “The J.M. Storzer Center renovation and expansion represents a true College-community partnership and we are proud to be part of it.”
According to Zach Messitte, president of Ripon College, securing financing from USDA is a critical step in the College’s efforts to move ahead with this important project for the campus and the surrounding community. Ripon College is also working with alumni and friends of the College on leadership gifts that will help them to reach the goal of opening the new facility by the fall of 2017.
The J.M. Storzer Center project, estimated between $18-$22 million, will be financed using a mix of public and private loans and philanthropy.
Once completed, the upgraded facilities will provide state-of-the-art training spaces, including but not limited to: an indoor fieldhouse with an NCAA regulation track and performance courts, integrated cardio and weight training space, flexible studio spaces, modern classrooms and meeting/event spaces, study and meditative areas, a health food cafe and the first true student center on lower campus.
USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As the lead federal agency for rural development needs, USDA Rural Development invests in jobs, infrastructure, community development, health, education, homeownership and affordable rental housing to improve the lives of people in rural areas and the economic health of rural communities. During the last year, the agency has assisted nearly 9,000 families and businesses in more than 100 communities, investing more than $571 million into rural Wisconsin through affordable loans, loan guarantees and grants. Further information on USDA Rural Development is available at a local USDA Rural Development office or by visiting the web site at http://www.rd.usda.gov/wi.