Loans that support housing development are available to both nonprofit and private developers for multi-family rental housing, single family homes for sale or rent, improvements and renovations of property for resale or rental. REED does not make home loans to owner occupants.
All borrowers are encouraged to integrate energy efficiency in facilities and construction. Purchase of electricity from a REED member cooperative is NOT required to receive financing. For more information, check out Eligibility and Application, for qualifications and to obtain an application.
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Frederick Development Corporation
Category: Northern, Multi-Family Housing, Cooperatives
Two new rental units have been built in the northern Brown County community of Frederick thanks in part to loans from Northern Electric Cooperative’s Rural Electric Economic Development (REED) Fund and Grow South Dakota. The Frederick Development Corporation received a $90,000 loan through the REED Fund and another $90,000 loa...
GROW South Dakota
Category: East River, Multi-Family Housing, Cooperatives
East River Electric Power Cooperative’s Rural Electric Economic Development (REED) Fund has announced a $1 million loan to GROW South Dakota. The loan was officially closed Nov. 19 and will provide supplemental funding to the organization’s housing loan programs which provide affordable housing options to low-income families.
“East River Electric, it...
Rosholt Housing and Redevelopment Authority
Category: Traverse Electric, Multi-Family Housing, Cooperatives
Rosholt Housing and Redevelopment Commission has a successful 17-year track record in building and managing housing in the town of 427. It owns 10 units, two 4-plexes and a duplex, to meet a growing need for housing. An additional 4-plex was recently completed with all units spoken for. Traverse Electric’s REE...