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Posts tagged: Jamestown

For A North Dakota City, a Recovery Act Loan Makes the Difference

“Without the involvement of USDA Rural Development, this hospital would not have been built,” says Martin Richman, CEO of the Jamestown Regional Medical Center (JRMC).  Marty smiled from ear-to-ear as he prepared to thank North Dakota Rural Development State Director, Jasper Schneider and his staff at a formal ribbon cutting ceremony at the new $52 million facility.  USDA Rural Development financed a direct loan through the American Recovery and Reinvestment Act and guaranteed a loan through AgStar Financial.

The 25-bed, critical access hospital will not only serve a nine-county area but it will also stimulate the economy through employment of over 300 health professionals.  The community hospital’s roots date back to 1928 when ground was broken for JRMD’s predecessor.  That older structure will now be owned by Lutheran Social Services of North Dakota and remodeled into a senior housing facility financed by the Department of Housing and Urban Development (HUD).  Read more »