Northwest Colorado Health receives $682K USDA Loan | CraigDailyPress.com

Northwest Colorado Health receives $682K USDA Loan

A $682,000 loan secured in May from the U.S. Department of Agriculture supported Northwest Colorado Health's purchase of the Craig clinic on Russell Street, previously owned by Memorial Regional Health.

CRAIG — Northwest Colorado Health is receiving a $682,000 loan from the U.S. Department of Agriculture to purchase the facility in Craig leased from Memorial Regional Health.

"The clinic will address a critical need for medical services in rural Moffat County. It will provide preventative and comprehensive care, including behavioral and opioid treatment services," according to a May news release from Assistant to the Secretary for Rural Development Anne Hazlett.

“We are very pleased to be moving from renting to ownership at 745 Russell Street,” said then NWCH CEO Lisa Brown in December 2017.

Divesting itself of the building is part of the MRH master plan to create a standalone urgent care clinic — now opened near Walmart — and build a new medical office building adjoining the hospital, which is now under construction.

Once the medical office building is complete, the 50-year-old former hospital building on Russell Street will be demolished, with the exception of the standalone portion now owned by NWCH, as reported by the Craig Press in December 2017.

A USDA loan was also awarded to Memorial Regional Health to finance the estimated $29 million construction project.

Recommended Stories For You

The USDA is investing $243 million in rural community facility improvements in 22 states to fund infrastructure, schools, libraries, municipal centers, opioid treatment, prevention and recovery and other community needs. Loans have ranged from $10,000 to $165 million.

"Rural communities represent a wealth of opportunity," Hazlett said. "Under Secretary (Sonny) Perdue's leadership, USDA is a partner in bringing those opportunities to life — whether attracting jobs, accessing additional capital or improving the quality of life in these towns through access to modern community services."

USDA is making the investments through the Community Facilities Direct Loan Program. The recently passed 2018 Omnibus bill increased the Fiscal Year 2018 budget for the program to $2.8 billion, up $200 million from fiscal year 2017.

The increased support for rural communities is, in part, the result of efforts by an Interagency Task Force on Agriculture and Rural Prosperity, established by President Donald Trump, to identify legislative, regulatory and policy changes that could promote agriculture and prosperity in rural communities.

The Task Force delivered 31 recommendations to align the federal government with state, local and tribal governments to take advantage of opportunities in rural America. Increasing investments in rural infrastructure was one of the task force’s recommendations.

USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. For more information, visit rd.usda.gov.

Contact Sasha Nelson at 970-875-1794 or snelson@CraigDailyPress.com.