BEATRICE – Beatrice elected officials have approved a resolution for a loan to help Beatrice Community Hospital upgrade technology.
The city council Monday night approved a rural economic development loan agreement for $360,000 to help the hospital purchase telemetry monitors. City Administrator Tobias Tempelmeyer says the project will use a USDA Rural Economic Development program.

"The city has made an application and we're eligible through the board of public works and the electric department, in particular. As part of this grant, the USDA will give us $360,000....the electric department matches with $60,000. We then loan those funds to Beatrice Community Hospital and they use it to buy qualifying equipment."

Repayment on the loan also establishes a revolving loan fund that can be used for other economic development purposes. The loan to the hospital is for up to ten years, making quarterly payments….but can be paid off earlier. "You can charge interest and have that built into the account, but you are eligible to apply for additional USDA grants, to put money into that pot over time...so it could be something we look at in the future." The agreement was earlier recommended for approval by the Beatrice Board of Public Works.

In a separate action involving another downtown redevelopment grant program, the council approved a $10,000 loan to DRS Properties and Investments LLC and Robert Taylor. Tempelmeyer says it’s the final loan application under the current state grant program received….and involves properties south of Kabo Bar, along Fifth Street.

"117 South 5th and 123 South 5th...the improvements in this case are more improving the outside, removing some of the siding and replacing that on those buildings there."

Officials also approved a resolution for a public-private partnership agreement with Pinpoint Communications, Inc. to construct an all-fiber network to business and residential properties within the city. The company is from Cambridge, Nebraska and has done work in smaller cities but also larger metro areas.