A non-profit corporation will receive major funding to purchase and renovate three long-term care facilities in the area.
Winnebago City Council member Jean Anderson says Heartland Rural Services was approved for a $15 million loan from the United States Department of Agriculture (USDA).
“It’s really going to save us,” says Anderson. “We’ll keep 287 jobs at the facilities and continue to provide needed senior care.”
Heartland will use $7 million of the loan to buy Parker Oaks in Winnebago, Truman Senior Living in Truman and Parkview Care Center in Wells from ElderCare of Minnesota, owned by Jim and Kathy Birchem of Little Falls.
Heartland board president Bill Erickson says gaining USDA approval has been a long process.
“We have been working on this since December of 2013,” he says. “We have a loan commitment from USDA that was a critical piece to moving forward.”
Erickson says more details are expected to be released in the next couple of weeks.
During a recent Truman City Council meeting, Pat Rafferty of Heartland told council members he expects a closing date of 60 to 90 days for the Truman facility.
Heartland is planning upgrades that involve memory care and assisted-living units at the locations.