Tag: Community Facilities
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Ask Jay Headley what Dakota Resources’ biggest accomplishments were for 2016, and he will rattle off a list that includes providing capital to assist with rural building projects, new housing developments, land purchases, the opening of new businesses and collaborative partnerships.
However, one of his favorite highlights was finalized at the end of the year and involves a partnership between Dakota Resources and US Department of Agriculture Rural Development (USDA). USDA named Dakota Resources as a “re-lender” of $10 million in federal funds to help spur economic development opportunities and reduce rural poverty in South Dakota communities. The funds will be used to improve essential facilities in low income rural areas, such as health care facilities, child care centers, town halls, assisted living centers, transitional housing, street improvements and educational facilities.
“Dakota Resources is only one of a handful of Community Development Fund Institutions … Read More »
Renner, SD – U.S. Department of Agriculture Rural Development Acting State Director Bruce Jones announced that Dakota Resources will receive a Community Facility Direct Re-lending Program loan in the amount of $10 million for relending in South Dakota rural communities. USDA Rural Development Tim Potts was in Renner to recognize each of them on Jones’ behalf.
“The long standing partnership USDA has with Dakota Resources represents the immense value of the organization and the vital role they have in supporting our rural South Dakota communities,” said Jones. “This funding will enable both organizations to bolster opportunity to our communities through relending, thereby supporting essential community facilities that South Dakotan’s rely on.”
As a re-lender, Dakota Resources will loan funds to applicants primarily for projects in or serving high poverty areas or persistent poverty counties eligible under the Community Facility Loan program.
Eligible … Read More »