money $1.5M grants infrastructure grants approved by Gov. Noem's office for Sioux Falls and more
A half million dollars in grant funding each has been approved by the state to develop Sioux Falls, Lake Preston and North Sioux City infrastructure projects.
After an initial vote to approve the funding a few weeks ago, the Governor’s Office of Economic Development (GOED) voted Wednesday to approve the Local Infrastructure Improvement Program for $1.5 million total to develop three cities each.
A $500,000 portion will go to Sioux Falls to develop infrastructure for the northwest side's Career Avenue, near the site of new Jefferson High School and future businesses like Amazon, via the Sioux Falls Development Foundation (SFDF).
“The plan is to build out the rest of Career Avenue and the property to the east of it. That privately-held property is going to Encore Group," said Bob Mundt, the president of SFDF. "My guess is that they’ll be developing quickly."
Sewer, road and other infrastructure to prep land for future construction will also be funded.
“They’ll complete construction, then we’ll draw down the money (to pay) when the frost leaves the ground and they’re able to put the road in," Mundt said.
Mundt stated the move is a helpful shift in focus GOED’s part in funding land ahead of development. The land in the northwest side of Sioux Falls is sparse now, occupied by only a few businesses, apartments and townhomes, but is expected to grow swiftly once major manufacturing jobs arrive.
“The governor and the GOED has been aggressive in assisting local communities and bringing in new development," Mundt said." Typically it’s directed at larger developers. This is geared toward... space for buildings that are not yet occupied.”
The GOED also moved Wednesday to approve the same program for North Sioux City Economic Development Corporation and the City of Lake Preston.
Applicants from any city development foundation, municipality or or tribal government must identify an economic development project and then work with their area planning district to submit a completed application before funding is considered.
Then the office takes in the documentation, and pays out the grant in 30 days, according to the GOED site.
“Having the necessary infrastructure in place is an important part of all economic development projects," that office said in a statement to the Argus Leader. "The Local Infrastructure Improvement Program is used by the Governor’s Office of Economic Development to help local government and economic development organizations cover some of those costs.”
This article originally appeared on Sioux Falls Argus Leader: $1.5M approved by GOED, Gov. Noem office for future land development
