Loan for new location for Woodlands Behavioral Network could be approved
Published 8:43 am Thursday, June 14, 2018
CASSOPOLIS — A special public hearing at Woodlands Behavioral Network took place on Monday to gather input from individuals served, advocates, providers and community members regarding its USDA loan application.
The CEO, Kathy Sheffield, shared information regarding the media on their website and social media, and informed local media. But the meeting attracted few people who were not on the board or employed by the mental health clinic, so in total, the meeting lasted less than 10 minutes.
Woodlands plans to purchase the property at 901 M-60: the old Midwest Energy and Communications building. The loan application is for about $4 million, which includes renovations. The length of the loan will be 30 years.
According to Roger Pierce, the CFO, the main reason for going through the USDA is because they will offer a lower interest rate than a bank would.
“That really is the primary reason,” Pierce said. “The bar for getting the loan is much lower than going through a bank as far as the money that we would have to put down and that kind of thing. It’s advantageous for us as a governmental entity to go this route rather than working with a commercial bank.”
Woodlands has been in the process of obtaining this loan since 2016, but Pierce says in that time several rules and requirements have changed in the application process. Hosting the special public meeting should be the last step.
“We’re just waiting for them to say that we’ve cleared all of these hurdles and they will hopefully give us the loan,” said Ruth Newton, the chairman of the board.
If the loan is approved, Pierce says it should take Woodlands no more than six months to renovate the former Midwest Energy and Communications building, move out of both their current facilities and and get set up.
The mental health clinic hopes that the move saves them money on transportation, allows all of their employees to be under one roof and provides them additional space.
“Hopefully, the building will give us better space to serve folks,” Sheffield said. “Meeting rooms and things like that, which will help folks and help [us] provide services.”
Woodlands is not the only organization that will benefit from the move. Midwest Energy and Communications has been waiting for the loan application to be approved so it can sell its old building to the mental health clinic.