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Posted: January 10, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF011525-03

Agenda Item Title:

Authorize Mayor to Accept and Sign the Agreement for the South Dakota Housing’s Housing Infrastructure Financing Program (HIFP) Grant in the Amount of $1,077,604

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
01/15/2025
City Council Hearing Date:
01/21/2025
Petitioner:
Finance Office
Staff Contact:
Jamie Toennies
Location:
Council Chambers
Agenda Item Summary:
We’ve received a grant from SD Housing to cover costs associated with constructing a new water booster pump station to increase the capacity of water to the Shepherd Hills Development area. This regional station will serve current and future residential development planned in this area that is experiencing substantial growth.

Grant funds are for infrastructure projects that help address housing needs. Council passed a resolution in support of this project in Dec. 2023.

In total, the City of Rapid City has received $5,485,776 in HIFP grant awards for our projects. A summary of all funding the city has received is included in the attachments.

Why important for the city: Funding supports critical public infrastructure needed to support housing development in northeast Rapid City. We are bringing outside resources to help cover construction costs.

Strings: Match required and is already budgeted in Water Enterprise with reimbursement anticipated from TID # 84.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Water Enterprise 0933
Is Funding Budgeted?:
Budgeted

Recommendations:

Origination Recommendation Action:
Approve

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