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Limon Clinic

CoBank recently partnered with Farm Credit of Southern Colorado to help finance a new hospital clinic in Limon, Colorado.

 
CoBank's Andrew Jacob speaks at the ground-breaking ceremony for the Limon health care clinic.

The new clinic, scheduled to open this year, will replace the existing clinic operated by Lincoln Community Hospital (LCH) which has only two exam rooms and is open just four days-a-week. With health care demands on the rise, LCH made the decision to construct a new clinic with additional hours of operation and expanded services. The new 4,385-square-foot health clinic will offer eight exam rooms, an X-ray room and a physical therapy room along with a reception area and nurses’ station.

Even though the land had been donated to the hospital, LCH had difficulty finding a lender for construction costs.

“If it wasn’t for Farm Credit of Southern Colorado and CoBank, we wouldn’t be here today,” hospital CEO Herman Schreivogel said at a ground-breaking ceremony Friday. “It’s a testament to good people doing good things for the right reason in order to get things done.”

Limon Mayor Julie Coonts called the partnership and the proposed clinic a “great example of community and teamwork.”

In mid-2011, Farm Credit of Southern Colorado approached CoBank about partnering to help meet the hospital’s credit needs by purchasing taxable revenue bonds issued by LCH under CoBank’s innovative Agricultural and Rural Communities (ARC) bond program. Authorized by the Farm Credit Administration, the ARC bond program targets investments that meet the growing and changing financing needs of American agriculture and rural communities.

“By providing additional sources of stable, dependable and flexible financing, the program helps to increase the well-being and prosperity of those who live in rural towns, including farmers, ranchers, and commercial fisherman,” said Andrew Jacob, CoBank executive vice president for Regulatory, Legislative and Compliance. “A key area of focus for the ARC program is rural health care.”

The ARC bond program is an important part of a new CoBank program called the Growing Rural America initiative. It is designed to help expand service and support to small agricultural cooperatives and rural infrastructure providers, local food markets and rural communities in partnership with Farm Credit associations and others committed to the development of rural America.

 

 

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