|RURAL LEARNING CENTER BECOMES A REALITY- HOWARD, SD TO CONSTRUCT HOTEL AND CONVENTION CENTER|
|, Sep 02, 2010
Outline Of Need: The Miner County Development Corporation (MCDC) broke ground on a new hotel and convention center complex. “This business/community development projects exemplifies partnerships at work. USDA/Rural Development is just one of the partners that helped to make this project happen. It is the people of Howard and Miner County that made the decision to not let Miner County be another rural community in decline. USDA and the Obama Administration are proud that we can be a part of the solution to rebuilding this rural community,” said Meeks. “Rural Development’s B&I Loan Program enables banks to provide quality loans to small businesses through a USDA loan guarantee and, as a result, provides lasting benefits to the overall community.”
How Rural Development Helped: The American Recovery Reinvestment Act (ARRA) Funding through a USDA Rural Development Business & Industry loan in the amount of $3.2 million guaranteed through Miner County Bank in Howard.
The Results: The facility will include a 24-room hotel, community kitchen, restaurant, and dining room, in addition to being a Leadership in Energy and Environment Design (LEED) certified conference and training center. The MCDC will be leasing the conference/training portion of the facility to the Rural Learning Center (RLC). It is planned that the facility will house cutting edge green energy training programs that bring communities, high school and adult students, technical institute programs, and the renewable energy industry together. This is the second phase of the Maroney Rural Learning Center project.
Other funding involved with this project includes an economic development loan from Heartland Consumer’s Power District. This money was awarded through a USDA Rural Economic Development Loan in the amount of $740,000 and Grant of $300,000. These funds were awarded out of USDA Rural Development’s regular funding directed to South Dakota. The federal funding was leveraged with $100,000 from Grow South Dakota’s revolving loan fund, $150,000 from Northeast South Dakota Economic Corporation, equity from the Rural Learning Center, and other investors.
“It will be a learning facility for businesses, industries, and individuals, so they can find out what it means to be green,” said Randy Parry, RLC President, indicating that he expects the RLC to draw from the surrounding area.