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USDA Rural Development Awards $25 Million Loan to Methodist Manor Retirement Community in Storm Lake

DES MOINES, – U.S. Department of Agriculture (USDA) Rural Development has awarded a $25 million loan to Methodist Manor Retirement Community in Storm Lake to assist with an upcoming expansion and remodeling project that will greatly improve healthcare options for hundreds of northwest Iowa residents.

“We are pleased to be participating in this important healthcare project in Storm Lake,” said Bill Menner, USDA Rural Development State Director in Iowa. “Access to quality healthcare is critical for rural Iowans and the communities in which they reside. Helping community leaders identify ways to improve these opportunities in rural America is an important emphasis at USDA Rural Development.”

USDA Rural Development funds will be used to construct a new addition and make remodeling improvements to Methodist Manor Retirement Center. The project will include a three-story, 93-bed long-term care facility expansion, demolition of existing portions of the building and extensive remodeling of other parts of the facility.

USDA Rural Development’s funding continues to have a dramatic impact on rural communities across Iowa.  Since 2009, USDA Rural Development has invested $4 billion on essential public facilities, small and emerging businesses, water and sewer systems, and housing opportunities for Iowa families.

USDA Rural Development can help rural communities and regions grow and prosper by offering a variety of financial and technical assistance programs that encourage the development of strong community and economic development strategies.

This past year USDA Rural Development’s investment in Iowa helped create or retain more than 1,000 jobs, aided 2,400 families in buying their own homes and assisted more than 60 communities as they made improvements to their facilities, services and infrastructure.

“We are proud to serve the needs of rural people and places to ensure that rural America continues to thrive and drive the economy,” Menner added. “We are very happy to be a partner with all the communities we serve as they work hard to make investments that will impact many future generations.”

Contact USDA Rural Development
For more information about finance programs available through USDA Rural Development, please call the office located in Storm Lake at (712) 732-1851 Ext. 4. This office serves communities, businesses and residents in Buena Vista, Calhoun, Carroll, Clay, Dickinson, Emmet, Greene, Palo Alto, Pocahontas and Sac Counties.

Further information on USDA Rural Development programs is available by visiting the agency’s web site atwww.rd.usda.gov/ia.

USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities and areas.  Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.

President Obama’s plan for rural America has produced historic investment in rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have strengthened America’s small towns and cities and helped improve the nation’s economy.