October 30, 2006
Gathering in Coatesville to present a check for a $3
million loan from the USDA Rural Development Department
for the Brandywine Health & Housing Center were (l
to r) Frances Sheehan, President and CEO of the Brandywine
Health Foundation, Gary Groves, PA State Director, USDA
Rural Development, County Commissioner Carol Aichele, member
of the board of directors of the Brandywine Health Foundation,
Frank (Chip) Breuninger, Jr., Chair, Coatesville Health
Development Corporation, recipient of the loan, Russell
Davis, Administrator, Housing and Community Facilities
Programs USDA Rural Development, and Congressman Jim Gerlach
(PA 6th District), also a member of the foundation’s
board of directors.
The Coatesville Health Development Corporation,
a new, non-profit entity created to enable the Brandywine
Health & Housing
Center’s development, has been awarded a $3 million
40-year low interest mortgage to finance the first and
fourth commercial floors of the Center. And, the
USDA will provide a guarantee of an additional $1.5 million
in private funds, enabling those funds to be secured at
a below market rate. This project includes 24
units of low-income senior housing, plus health and
human services to be located on the 700 block of East Lincoln
Highway in Coatesville. |
