Wicker, Cochran, & Kelly Announce a $2.0 Million USDA Loan for Winston Co. Medical Center Reconstruction
Federal Funding to help Medical Center Rebuild Following Tornado Damage
WASHINGTON, D.C. – (RealEstateRama) — U.S. Senators Roger Wicker, R-Miss., and Thad Cochran, R-Miss., and U.S. Representative Trent Kelly, R-Miss., today announced that reconstruction of a new Winston County Medical Center in Louisville will benefit from the approval of a $2.0 million, zero-interest federal loan.
The U.S. Department of Agriculture (USDA) has approved the $2.0 million Rural Economic Development Loan Program application from the Meridian-based East Mississippi Electric Power Association. The 10-year loan will be used to support ongoing rebuilding of the Winston County medical complex, which was destroyed in a devastating tornado on April 28, 2014.
“Rebuilding this medical center will benefit the people of Winston County – not only by providing health-care services but also by bringing in new jobs for the community,” Wicker said. “We continue to push ahead toward the full restoration of what was lost during the devastating tornadoes in 2014. This is a major advancement in this effort.”
“This loan marks another important step forward in the rebuilding of the Winston County Medical Center. I am hopeful that this financing will help in restoring permanent medical facilities for people in the Louisville and Winston County area,” Cochran said.
“I’m proud to see the progress that has been made since the 2014 tornado in Winston County. It’s important that effort continues with the rebuilding of the Winston County Hospital and the infrastructure needed to offer much-needed medical services to constituents,” Kelly said.
The USDA loan is part of an overall effort to finance the recovery projects. In December, the Federal Emergency Management Agency (FEMA) approved a $1.78 million cost-share grant to support the ongoing rebuilding effort. FEMA is expected to provide an estimated $10.8 million, 75 percent of eligible costs not covered by the county’s insurance policies.
The rebuilt medical center is expected to retain its 226 employees and create an additional 15 jobs in Louisville. The medical center complex is expected to be fully operational in spring 2017.