USDA Rural Development announces the funding of $3,163,100 to the City of Pawnee City to be leveraged with $$200,000 from the Pawnee City Development Corporation and $122,895 from donations. The $3.5 million structure will consist of 14,700 square feet offering 22 resident units of assisted living. The facility will be licensed for 24 beds.
“I would like to say what a wonderful job everyone has done on this project. When a project like this comes together, it makes me very honored to say that I’m from Pawnee City. The efforts, of not only the committees, but all the people in general, working together makes our Community one to be proud of,” said Mayor Charles Hatfield, City of Pawnee City.
“The City completed a community wide survey that placed an assisted living facility on their priority list. A Community Development group gathered and started thinking of ways to make the facility happen. Next, a housing study was completed finding that there was a shortage of assisted living rooms in the area,” said USDA Rural Development Community Programs Specialist, Janice Stopak. “A piece of ground on which to build the assisted living structure has been selected and interested parties have already voiced that they would like to live in the facility. When completed, this project will bring 10 jobs to Pawnee City.”
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.