By: Nathan Bloechl ([email protected])
Humboldt, Iowa – It seems as if the the final hurdle for Kiddie Cats Daycare has been cleared.
In a 4-1 roll call vote, the Humboldt County Board of Supervisors approved a resolution stating they will co-sign on $200,000 of the $500,000 commercial loan awarded to Kiddie Cats Daycare.
The approval allows the shovels to get in the ground quicker, speeding up the process.
With the Daycare being a non-profit organization without any business history, First State Bank required “co-signers” much like a parent would have to do for a child purchasing a vehicle.
The Supervisors join the city in backing up $200,000, while the Humboldt County Memorial Hospital would potentially be liable for $100,000.
The rates are prorated over the course of twenty years.
Humboldt County Development Association Director Alissa O’Connor expressed the absolute need for a daycare as Humboldt transcends into a more progressive community for young adults.
“When we are recruiting people from outside Humboldt County, we have to have these kind of amenities available. This is a key, essential amenity, it will encourage them [to come to the community]” said O’Connor.
District Four Supervisor Erik Underberg expressed his difficulties with the plan, saying that the “if we build it, they will come” mantra, so to speak, is a little bit worrisome to him. He also noted that his constituents believe they have no stake or benefit in Kiddie Cats Daycare.
However, Humboldt School District Superintendent Greg Darling spoke to the difficulties Underberg’s district has with finding adequate day care providers.
“There’s maybe two [in that area]. I know for sure there is one, and she is full and having turn away people. Mr. Hasenkamp, the Twin Rivers principal gets calls bi-weekly about the need for daycare in that sector, because people aren’t moving there without daycare.”
They Daycare Board said they will continue to fundraise for the project through the construction of the project. Even so, Ross Sleiter, a member of the Daycare Board has crunched the numbers saying that with just 50% occupancy, the daycare could service the incoming debt.
“We have sixteen different versions of a cash flow to make sure this thing is going to work” O’Connor explained.
The center is projected to hold at maximum 110 kids, while the architect’s estimate for building costs is 1.4 million dollars.