Tag: USDA Rural Development
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During the Fall of 2017, ground was broken and construction began on additions and renovations to Andes Central schools in Lake Andes, SD. The multi-million dollar project is being funded in part by Dakota Resources through the US Department of Agriculture (USDA) Community Facilities Re-lending program.
“Lake Andes has been working toward this for well over a decade,” explains Jay Headley, VP of Finance at Dakota Resources. “Their current schools were built in the 1950s and needed some serious overhauls. This will be a great community asset to Lake Andes and something that will benefit them for years to come.”
Dakota Resources is one of a handful of Community Development Fund Institutions (CDFIs) in the nation to be named a partner in the program, and received a $10 million award in 2016. The funds are designed to help spur economic development opportunities … Read More »
Renner, SD – Dakota Resources has been awarded a Rural Community Development Initiative (RCDI) grant in the amount of $214,090 from USDA Rural Development.
This 3-year program will provide financial and technical assistance to the economic development professional staff and local leadership teams from twelve private nonprofit economic development organizations and low-income rural communities in South Dakota, namely: 1) Centerville Development Corporation; 2) De Smet Development Corporation; 3) Eureka Community Development Company; 4) Faulkton Area Development Corporation; 5) Southern Hills Economic Development Corporation; 6) Lemmon Housing & Redevelopment Commission; 7) Grant County Development Corporation; 8) On Hand Development Corporation; 9) Grow Spink, Inc.; 10) Wagner Area Growth, Inc. (Strikeforce Area); 11) Wall Economic Development Corporation; and 12) Webster Area Development Corporation.
USDA makes grants available under the Rural Community … Read More »
In April, more than 20 rural economic development groups gathered in Harrisburg, South Dakota, for the “Upper Great Plains Rural Finance Gathering.” The members of this diverse group work to increase access to education, healthcare, jobs, and other key services in rural communities across the nation. The group shared insights, success stories, and tackled many of the challenges facing rural community development. The hot topic? Protecting key federal community development programs most effective at supporting rural communities.
Congress finally passed an omnibus bill last week to fund the federal government for the remainder of Fiscal Year 2017. Now, Congress quickly turns to its work on 2018, which is presently underway. In addition, both President Trump and Congress are working to move along tax reform.
Community development organizations are watching these processes from the edges of their seats—and with good reason. The Administration’s … 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 »