PIERRE, S.D. (KELO) — Two arms of state government that provide public financing to assist businesses in South Dakota have greenlighted several loans for projects.
Directors for the state Economic Development Finance Authority on Wednesday approved the application for a livestock nutrient management bond by Gevo Net-Zero 1, LLC for up to $187 million.
The proposed facility at Lake Preston plans to produce renewable fuel from crop residue for aircraft use.
The directors went into executive session for about 10 minutes to consider the application from Gevo. There was no discussion when they returned to public session and no one was heard to dissent when the voice vote was taken.
The state Board of Economic Development met next. The board’s membership is nearly identical to the authority.
The board approved a low-interest SD Works loan request from Rapid City-based Engineered Concrete Products, LLC in the amount of $1,012,500.
The board also approved a low-interest REDI loan request from TTL Holdings, LLC in the amount of $1,192,500. TTL is the corporate parent of Engineered Concrete Products.
The board went into executive session for about 15 minutes to consider the applications. There was no discussion among board members when they returned to public session and no one was heard as an opponent during the two voice votes.