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    Riverton Medical District focuses on USDA funding for hospital

    The Riverton Medical District (RMD) continues working to secure the necessary funding to build the Riverton Regional Medical Center – a full-service hospital.

    They are currently pursuing the USDA’s Community Facilities Program, a federal loan to help rural areas have the necessary services. Community help will be needed for the required equity portion of the application.

    This summer, a big focus was trying to obtain CARES Act funding, shared RMD member Corte McGuffey. Due to the strict guidelines, it wasn’t possible for RMD to meet the timeline. However, “we accomplished a lot by letting our state leaders know what’s going on,” he said.

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    The feasibility studies from both Stroudwater Associates and Eide Bailly have shown this hospital will be viable and profitable, McGuffey explained. This means it makes sense for RMD to continue pursuing funding.

    The application process for the USDA funding is underway and a big piece is getting together the equity portion of the application – a down payment if you will. RMD needs to show the USDA that it can fund 20% ($9.4M) of the project. What is needed from the community to meet this amount is $1.5 million.

    During the month of November, RMD is holding a pledge drive. Community members can pledge an amount they will pay toward the down payment. You can find more information on the RMD Facebook page and website.

    Once the equity is confirmed and the application is submitted, it takes a few months to hear back, McGuffey shared. An example is Saratoga who applied for hospital funding in June and received a little under $20M in September.

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    County 10 will keep you updated as the process continues.

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