File #: RES 24-050    Version: 1 Name:
Type: Resolution Status: Passed
File created: 4/30/2024 In control: City Council
On agenda: 5/7/2024 Final action: 5/7/2024
Title: Action on Resolution 24-050, a Resolution in Support of an Application for Financial Assistance to the South Dakota Housing and Development Authority by JDS Investments, LLC, and / or its Affiliates, Agents, or Assigns, for the Benefit of Multifamily Development.
Attachments: 1. Memo, 2. Resolution, 3. BEDC Letter of Support, 4. Location Map

Title

Action on Resolution 24-050, a Resolution in Support of an Application for Financial Assistance to the South Dakota Housing and Development Authority by JDS Investments, LLC, and / or its Affiliates, Agents, or Assigns, for the Benefit of Multifamily Development.

 

Body

Summary:

Brookings Economic Development Corporation (BEDC) and City staff recommend approval of the resolution supporting JDS Investments’ application for financial assistance through the Housing Infrastructure Fund (HIF).  A successful application would support a five (5) story residential development to be located at the southeast corner of Campanile Avenue and 7th Street.

 

Recommendation

Recommendation:

Brookings Economic Development Corporation (BEDC) and City staff recommend approval.

 

Body2

Attachments:

Memo

Resolution

BEDC Letter of Support

Location Map