Grant program could aid Beatrice hospital with equipment purchase

BEATRICE – The Beatrice Board of Public Works will apply for a $300,000 U.S. Department of Agriculture grant to aid Beatrice Community Hospital. A resolution, authorized through the city council, would also establish a revolving loan fund. A $60,000 match for the grant would come from the electric department.
City Administrator Tobias Tempelmeyer says the city’s electric department is eligible to apply….not the city itself.

"We've partnered with the hospital, so that if we're awarded this grant we will turn around and loan it to the hospital. They will go out and purchase a roughly $497,000 piece of equipment. The hospital then has one year to repay the city. Upon repayment, this money will go into a revolving loan fund."

The fund would be similar to one the city has under its’ LB 840 program, backed by local sales tax money. A Citizens Advisory Review Committee would take on administration of both revolving loan funds. The grant program can be used for things such as small business expansion, industrial or commercial development, though not refinancing.

"The minimum loan is ten-thousand dollars...they have to have at least twenty percent of the funds come from other sources...and the loan terms are ten years or less."  Loan rates must be under the prime rate. The city council approved the grant application, on a 7-0 vote.

In other action Monday night…The city council approved an agreement with a private developer for installation of a water main for the new apartment complex along Irving Street…..an agreement with Blue Rivers Area on Aging to aid with funding utility cost at the Beatrice Senior Center….and an agreement with the City of Fairbury to periodically rent out one of the City of Beatrice street sweeping machines, at a cost of $40 per hour.