Rural Electric Economic Development (REED) Fund
The REED Fund provides financing and helps leverage investment in small communities and rural areas, targeting projects that will promote growth and contribute to job creation, wealth creation and improvements in the infrastructure and economic base. The REED Fund provides needed development capital at reasonable rates to cooperatives, for-profit businesses, not-for-profit organizations and public bodies. The REED Fund partners with local, regional and state programs to fill financing gaps.
REED lending projects include, but are not limited to:
- Small and medium sized business and cooperatives engaged in manufacturing, retail, service and tourism industries.
- Community projects relating to water/wastewater, healthcare, education, telecommunications, public safety, recreation and the arts
- Producer owned business and cooperatives that add value to agriculture through further processing, marketing or enhanced services
- Multi-family rental housing with strong community support
- Efficient use of energy is encouraged for all projects and is also an eligible activity
- Applicants do not need to be a member/consumer of a rural electric cooperative
Every effort is made to make loans in conjunction with local lenders to help borrowers establish the necessary banking relationships for continued access to credit as businesses grow.
REED is a non-profit organization governed by twenty-two electric cooperative members of East River Electric Power Cooperative, Inc. in eastern South Dakota and parts of western Minnesota. Applicants do not need to be a member/consumer of a rural electric cooperative to apply.
Category: Local Incentives, Grants & Loans
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CITY OF CLEAR LAKE
The following discretionary formula is adopted for any new construction of residential structures, including any addition to or renovation of an existing structure in the City of Clear Lake with an assessed value of $30,000.00 or more pursuant to the following percentages of assessed value over a period of five years:
Amended Resolution No. 2010-8
Dated: August 9, 2010.
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