Floyd Valley Hospital Seeks Financing For Expansion Project
(Le Mars) -- Floyd Valley Hospital's expansion project was given a bit of a boost on Tuesday when the Le Mars City Council approved to commit up to one million dollars from the Local Options Sales Tax to the hospital. Hospital Administrator, Mike Donlin appeared before the city council on Tuesday asking in fact for financing from the city to help with the expansion project. Hospital officials say they were seeking at least three million dollars, but the city has only the one million available to allocate at this time. Donlin appeared before the city council in January, and at that time, the city instructed its finance committee to meet with the hospital's finance committee to determine where extra funds could be raised.
The city council said they would approve the other two million dollars that is being requested by the local hospital on the condition voters approve the renewal of the Local Options Sales Tax. Donlin says a precedent has been established with voters approving construction projects with the local options sales tax when it approved the construction of the Plymouth County Law Enforcement Center.
A major portion of financing the hospital's plan for expansion depends upon whether the U-S Department of Agriculture's Rural Development agency extends a low-interest loan to the hospital for nearly $16 million dollars. Donlin is confident the loan will be approved for the hospital.
The hospital administrator says there is no set deadline, but he did say he hopes actions can take place as soon as possible as to show the USDA the community support for the proposed project. Donlin anticipates if all goes as planned, and financial commitments and pledges are received, ground breaking may occur next winter or spring.
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