PIERRE, S.D. (AP) – A new state economic development effort doled out more than $7 million in grants and loans in its first year, though some lawmakers want to revisit how the money is distributed.
The 2013 Legislature established the Building South Dakota fund as a way to eliminate some of the debate about how to use unclaimed property dollars on housing, education and infrastructure projects.
Records show the program has awarded $3.5 million to 38 housing projects, $2.1 million on programs for English language learners, just over $1.1 million to six local infrastructure projects and about $630,000 to 12 other projects.
It also funded a 5 percent boost to the Revolving Economic Development Initiative, or REDI fund, which has been active since the 1980s.
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