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Ground Broken for $29.55 Million Community Hospital
Nebraska Ag Connection - 03/20/2017

A groundbreaking was held in Syracuse marking the start of the construction of the new Community Memorial Hospital facilities. USDA Rural Development provided $27 million in loans to the Community Memorial Hospital, Inc. that will be leveraged with $2.55 million from the Community Memorial Hospital District for the new medical facilities.

"We are very pleased to be continuing our investment in healthcare. This new facility will help ensure that healthcare will continue to be provided locally for generations to come," said President and CEO Michael Harvey, Community Memorial Hospital, Inc.

"Healthcare facilities such as Community Memorial Hospital are the continuation of bringing funding to help meet the rural health care needs of the residents of Syracuse and surrounding communities," said Acting State Director Denise Meeks, USDA Rural Development. "It is very important that leaders continually look for ways to improve the rural healthcare services that are offered in their community."

Community Memorial Hospital, Inc. will utilize the funds to replace the existing facility with a 50,000 square foot Community Memorial Hospital and an additional 20,000 square feet for the medical clinic and administrative space.

The USDA Rural Development loan of $25 million will be repaid over 40 years and the $2 million loan will be for seven years. Both loans will be at 2.875 rate of interest. Funding is provided through the Community Facilities Direct Loan program.

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