PIERRE, S.D. (KELO) — One of South Dakota’s fastest growing areas has won a conditional commitment from a state agency for an infrastructure loan to develop 1,057 lots for single-family homes at Harrisburg.
Commission members for the South Dakota Housing Development Authority on Tuesday voted unanimously to provide the City of Harrisburg a $8,331,650 loan housing-infrastructure loan at 2% interest, amortized over 20 years, with a 10-year balloon payment.
The state loan represents half of the city’s estimated $16,663,300 development costs for making major trunk water, sanitary sewer, and street improvements along Willow Street and 272nd Street…