House authorizes low-interest loans from housing fund for Sioux Falls and Rapid City airport projects
The House approved Senate Bill 76 to permit loans from the South Dakota Housing Infrastructure Fund—two $15 million, 2% loans over 20 years—to help Sioux Falls and Rapid City leverage federal funds for airport projects; debate focused on fund mission and vote-threshold rules.
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Representative Colbec presented Senate Bill 76, describing the measure as authorizing loans from the Housing Infrastructure Fund to support airport infrastructure projects in Sioux Falls and Rapid City. He said the proposal would offer two $15 million loans at 2% interest over 20 years, repaid into the Housing Infrastructure Fund to preserve capital for housing projects. Colbec said the loans would help leverage federal matching funds and accelerate phases of airport projects.
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