A $20 million award from the United States Department of Agriculture Rural Development will complete the funding of a new rural hospital in Sidney.
The funds will be leveraged with a $20 million Rural Development Guarantee with AgStar Financial Services and $9.8 million from the Cheyenne County Hospital Association to build the new Sidney Regional Medical Center.
The $20 million comes from the USDA Community Facilities Direct Loan Program.
“There are many steps to a project of this size and the USDA Rural Development approval for financial support is a major step toward ensuring SRMC’s goal to build a new state of the art facility for our community. This project will build upon the quality of care we provide by offering the best possible environment for patient care,” said CEO Jason Petik, Sidney Regional Medical Center in a written statement released by the USDA.
To total of $40 million in direct and guarantee loans makes the Sidney hospital the largest project that USDA Rural Development has funded in Nebraska, according to the USDA.
The Sidney hospital was built in 1955. It sits in a residential area with no room to expand. Its access is limited.
The new hospital will be on one story with 76,800 square feet, located on a 20 acre site near the current hospital. There will be a two story clinic and administrative building with approximately 42,000 square feet constructed also.