$19M loan announced for new St. John’s facility
Published 9:32 am Wednesday, August 13, 2014
U.S. Sens. Amy Klobuchar and Al Franken along with Rep. Tim Walz announced last month a more than $19 million loan will go to St. John’s Lutheran Community of Albert Lea for the construction of a nursing home and assisted living facility.
The loan will help in the construction of a replacement 84-bed nursing home and a new 32-unit assisted living facility in conjunction with the construction of a privately-funded 84-unit senior housing complex and a town center that will provide support services to all three buildings.
The low-interest loan is through the U.S. Department of Agriculture’s Community Services Program, which supports rural communities of 20,000 or less people.
“Minnesota’s prosperity depends on strengthening our local communities throughout the state,” said Klobuchar in a news release.“This loan will provide much-needed support to St. John’s as they work to improve the quality of life for seniors in Albert Lea.”
The Rural Economic Development Loan and Grant program provides funding to rural projects through local utility organizations.
“A strong American economy depends on a strong rural economy,” Walz said in the release. “This loan will work to create good-paying jobs in southern Minnesota and improve the quality of life for Albert Lea residents, while giving peace of mind to families knowing their loved ones can spend their golden years close to home.”