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City OKs $1.999 million SDHDA loan to pave West Sunnydale Road
Summary
The Box Elder City Council authorized a $1,999,000 housing infrastructure financing loan and unconditional commitment package with the South Dakota Housing Development Authority to fund paving of West Sunnydale Road, to be repaid with sales tax revenue.
Box Elder’s council voted March 4 to accept a Housing Infrastructure Financing Program loan and unconditional commitment package from the South Dakota Housing Development Authority in the amount of $1,999,000 to finance paving of West Sunnydale Road.
Interim Finance Officer Renee Baker described the loan as the funding source for the West Sunnydale Road project, which will convert the existing gravel road to pavement. Baker said the package includes an amount of $1,999,000 and that the loan will be repaid with sales tax revenue. Council moved, seconded and voted unanimously to authorize the mayor to sign any associated documents.
The council’s approval authorizes staff to finalize documents with SDHDA; the record indicates the action is a financing commitment for a capital paving project but does not include design or construction contract awards in the same motion. Further administrative steps and contracts for construction will follow procurement rules and separate approvals if required.
