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The Legal & Finance Committee meets the Wednesday before the Council meeting at 12:30pm in the Council Chambers at City/School Administration Center.
The Legal & Finance Committee meets the Wednesday before the Council meeting at 12:30pm in the Council Chambers at City/School Administration Center.
Leanna - BHKN
October 13, 2016

Downtown Business Approved for Loan from City of Rapid City for Upgrades

The Seed, LLC requested $150,000 from the City of Rapid City Life Safety Loan fund reports the Rapid City Journal.  The Rapid City Legal & Finance Committee granted the group an $80,000 loan for the new fire suppression system.  City staff is currently looking for other funding options because $80,000 was all that was left in the loan fund.  The Seed is a shared studio space located at 412 5th Street.  The building representative said if additional funds were found, they would apply for another loan.  The loan will be paid back at an interest rate of 2% for the first year, with the opportunity for a reduced interest rate if a letter of credit is established.

For more information about the Legal & Finance Committee, visit the Black Hills Knowledge Network news archives or the Black Hills Knowledge Network resource page.  

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