Iowa Utilities Secure Over $3 Million for Support to Iowa Projects
on Monday, October 22, 2018
IADG partner utilities have been very successful in securing funds through the USDA Rural Economic Development Loan & Grant program to support projects that will create or retain jobs or provide needed community facilities and services. To date, IADG partner utilities have secured 328 awards, generating $79 million in loans, $51 million in grants, and 62 Revolving Loan Funds (RLFs) capitalized at over $62 million. Below is a recap of Iowa’s most recent awards.
Humboldt County Memorial Hospital is undergoing a major expansion and renovation that includes the construction of a two-story 40,000 sq. ft. addition and 5,000 sq. ft. renovation. The new addition will house the UnityPoint Clinic; and services including outpatient specialty, rehabilitation, cardiopulmonary, diabetic education, dietary support and patient education. It will also include a new conference center. Renovations include new entrances, patio, gift shop and patient registration area offering more privacy. Construction is projected to continue through 2019.
Utility: Midland Power Cooperative
REDL: $1 million
Utility: Corn Belt Power Cooperative
Match: $60,000 from Corn Belt Power Cooperative
RLF: Enhance Existing Fund
Dr. Megan Timm and Smiles Family Dentistry received an $888,100 pass-through loan from CIPCO to support the acquisition and transition of existing dental practices in Sigourney and Williamsburg. Smiles Family Dentistry is a full-service dental clinic providing dental healthcare to rural patients primarily from Keokuk and Iowa Counties. Smiles Family Dentistry’s expanded services include pediatrics, oral surgery and endodontics. The future is bright, as Dr. Timm expects to add eight positions over the next three years.
Utility: Central Iowa Power Cooperative (CIPCO)
East State Street Properties and Pillar Technology Group are partnering on a project that will purchase and renovate the historic Order of the Odd Fellows building in Jefferson. This building will become home to Pillar Technology Group, a software development company. Pillar plans to create 20 jobs and establish a unique training program for area residents and students. This historic renovated property will serve as a catalyst for community redevelopment. Pillar will partner with local schools and the area community college to implement their existing apprentice program and develop a new training program for area students who want to learn computer science and coding. Utility: Midland Power Cooperative
Panora Communications Cooperative provided support for the establishment of Springbrook Family Dentistry, a new start-up full-service dental clinic in Guthrie Center. Dr. Daniel Nelson purchased an existing building and then conducted a full renovation of the space to allow for efficient delivery of dental services. The practice will start with two operational operatories, and is expandable to support five operatories to meet future demand.
Utility: Panora Communications Cooperative
Match: $60,000 from Panora Communications Cooperative
RLF: Enhance Existing Fund
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