USDA Rural Development awards RCDI Grant to Dakota Resources
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 Development Initiative program to strengthen the rural economy. Qualified intermediary organizations, like Dakota Resources, utilize the RCDI grants to provide technical assistance and training to strengthen nonprofit housing and economic development organizations in rural communities. Paula Jensen, Vice President of Advancement at Dakota Resources says, “We will work side-by-side with these twelve organizations to develop the capacity of their economic development staff and Board of Directors to undertake future housing, community facilities or economic development projects.”
All applicants of the RCDI grant program must have a high capacity to deliver the necessary technical assistance and must provide nonfederal matching funds at least equal to the RCDI grant. Grants range from $50,000 to $250,000.
Dakota Resources is a certified Community Development Financial Institution under the United States Department of the Treasury with the purpose of stimulating financial and human investment in communities that are invested in themselves. They help communities by identifying resource gaps in support of economic and community development, proactively educating and collaborating toward innovate solutions, share diversified, customized toolbox of resources that support economic and community development, and actively engage individuals, organizations, and the broader community in real and lasting change. For more information, visit https://dakotaresources.org.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community services such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit rd.usda.gov.
USDA is an equal opportunity provider, employer and lender.