USDA Approves $13.5M Loan For New Critical Access Hospital in Warren, MNWARREN, MN (WDAZ-TV) - USDA Rural Development has approved a $13.5 million loan for construction of a new critical access hospital in Warren, according to Minnesota Representative Collin Peterson's office.
By: WDAZ Staff Report, WDAZ
WARREN, MN (WDAZ-TV) - USDA Rural Development has approved a $13.5 million loan for construction of a new critical access hospital in Warren, according to Minnesota Representative Collin Peterson's office.
The total project cost is estimated at $14.75 million. The loan term is for 40 years at 3.375 percent.
"Critical access hospitals are a lifeline in our smaller rural communities," Peterson said. "I want to commend the leaders in Warren who understand the importance of local access to health care and worked hard to get this project off the ground."
Critical Access Hospitals must be licensed and operating as a non-profit, participating in the Medicare program, and be located in a rural area.
Kevin Smith, CEO of North Valley Health Center, said "This is something that has been in the works for five years and this news is very exciting for us. This will enhance health care services into the future and allow us to better meet the health needs of our area. This project also comes with help from the Otto Bremer Foundation and the generosity of the citizens of the communities we serve.”
Minnesota Rural Development Director Colleen Landkamer said, “In addition to access to essential health care services, this project means jobs and economic development in Warren and the surrounding region. Projects like this help build stronger and more sustainable communities in rural Minnesota.”