IRON MOUNTAIN — Dickinson County Healthcare System took the final step Thursday to secure $16.9 million in federal loan assistance.

Meeting via Zoom, the hospital board adopted resolutions accepting the 25-year borrowing arrangement at a 2.18% interest rate.

Kim Van Osdol, finance chairman, described it as “a phenomenal rate.”

At a news conference March 4, hospital officials announced approval of the U.S. Department of Agriculture Rural Development funding, finishing a process that began more than two years ago.

The aid will allow completion of a number of capital projects, including a new linear accelerator, new CT scanner, new magnetic resonance imaging and information technology system upgrades. About half the loan will be used to refinance debt.

Board Vice Chair Dave Holmes thanked the administration for “outstanding work.” The board approved resolutions for two successful applications, one for $8.9 million and one for $8 million.

County Commissioner Joe Stevens, a liaison to the hospital board, also praised the effort. He added that, when possible, he’d like to see an in-person joint meeting between the county and hospital boards to “catch up on issues.”

The hospital board, in other action:

— Heard Meghan Rosatto, director of operations, report one COVID-19 positive patient at Dickinson County Memorial Hospital. Vaccination efforts continue to ramp up, she said, with DCHS alone administering nearly 4,000 doses. The Dickinson-Iron District Health Department earlier this week reported that 6,354 Dickinson residents, or about 30% of the population older than age 15, has received at least a first dose of a vaccine. There have been 69 virus-related deaths reported in the county since the onset of the pandemic, including five during 2021.

— Received assurances from CEO Chuck Nelson that the hospital stands ready to care for COVID-19 patients “until this crisis passes completely.” Nelson credited staff “for remaining vigilant.” Meanwhile, the hospital’s $1 million emergency department renovation has begun and a new orthopedic surgeon is scheduled to offer services beginning April 1.

— Approved financial summaries for January and February, with no figures stated publicly. Brian Donahue, chief financial officer, said the hospital budgeted for a loss in both months, anticipating lingering effects from the pandemic. Those losses were exceeded, but activity has improved in March, he said. Last month, DCHS reported a positive bottom line for 2020 of $3.7 million.