Farm Bureau Mutual Insurance Company of Idaho announced today it has made a multi-million-dollar donation to the Portneuf Health Trust, a non-profit corporation dedicated to enhancing and improving the health of Southeast Idaho. The donation was in the form of the sale of Farm Bureau’s former state headquarters building in Pocatello to the Trust for a fraction of the property’s appraised value. This is the largest single donation the Trust has ever received from a corporation and is valued at approximately $3.5 million.
Paul Roberts, Executive VP and CEO of Farm Bureau Mutual Insurance Company of Idaho, said, “The Portneuf Health Trust has been very involved in improving the health and wellness of our community. Farm Bureau Insurance is pleased to donate the larger value of this building to assist them in meeting their worthwhile objectives.”
The property, located at 1001 North 7th street in Pocatello, will be used by the Portneuf Health Trust to house medical clinics for the most vulnerable in our community and other services to be announced later. Trust officials say plans are already underway to renovate the building’s 50,000-plus square feet. Some of the initial services will be open in spring of 2019.
“Paying a fraction of the appraised value will help us invest in an outstanding facility, and continuum of care for a very vulnerable group of people in our community. We would like to offer a whole-hearted thanks to the entire Farm Bureau team for their contribution.” said Shaun Menchaca, President and CEO of Portneuf Health Trust.
The building has been a part of the Pocatello community since 1972 when it was constructed as a Block’s department store. Farm Bureau Insurance purchased and remodeled the building in 1989 to house its state headquarters. Expansive growth caused the company to build and relocate to a larger headquarters in 2002, Farm Bureau Insurance’s current location at Pocatello’s Tierra Vista Drive.