30 Sep 2022
News, Featured Loans
The City of Elk Point recently secured a grant from REED Fund in order to fund an important housing study in the Elk Point community. If you’re in the South Dakota area, keep REED Fund in mind for financial assistance with important housing projects, community developments, business startups, and more.
In this unique, one-time scenario, 1st Financial Bank USA had provided REED Fund with the money to find communities in southeast South Dakota that could use it. City Administrator/City Manager Derek Tuttle said that REED Fund had initially reached out to the City of Elk Point to see if there were any housing or community development projects currently being worked on.
There was still some funding needed for the Elk Point housing study. The study was created to assist in receiving funding opportunities for Elk Point housing and would ultimately determine required housing developments in the area.
The City of Elk Point received a grant from REED Fund for the remainder of the cost of the study. Tuttle said that working with REED Fund was an easy process and that the people there were great to work with.
The housing study turned out to be a success and helped the City of Elk Point employees get a firm grasp on what was necessary to keep the community thriving. Based on the results, they discovered that multi-family apartments were needed in Elk Point. This piece of information was crucial to further developing housing opportunities in the area.
“I appreciate the REED Fund and helping the community of Elk Point continue to grow,” Tuttle said.
Tuttle has been with the City of Elk Point for four years. The City of Elk Point’s mission statement is “to provide services that promote the highest quality of life through cost-effective and efficient governance.” Its primary focus involves maintaining a safe community and beneficial infrastructure for citizens, plus providing them with quality services. To find out more about the City of Elk Point visit ElkPoint.org.
Elk Point is the county seat of Union County, SD. While the city was originally known for its abundance of elk, now it’s also known for its oil businesses and agriculture.
Elk Point is home to a lively community with a number of recreational activities available. This includes the Elk Point City Park & Campground where visitors are welcome to explore the Lewis and Clark Wayside Exhibit.
Whether you’re in Elk Point or another rural part of South Dakota, REED Fund may have just what you and your business need. Eligible businesses in Elk Point can reach out to REED Fund for assistance. For details on housing project grants, call REED Fund at (605) 256-4536.