JKEDC Continues To Address Housing Shorting
The Jackson-Kadoka Economic Development Corporation conducted its regularly scheduled, monthly meeting on November 3. Board members attending the meeting included JoBeth Eisenbraun, Donna Enders, Patty Groven, Brian Hundertmark, Lonny Johnston, Rusty Olney and Eileen Stolley.
Ryan Willert, a member of the Kadoka City Council who serves as a JKEDC liaison, also attended the meeting.
After calling the meeting to order, the Board reviewed and approved the agenda for the meeting and the minutes for the October monthly meeting. Eisenbraun, JKEDC executive director, presented financial reports for the operational and revolving loan accounts as of Oct. 31, 2021. The revolving loan account was made possible from monies received by the U.S. Department of Agriculture through appropriations funded by the American Recovery and Reinvestment Act of 2009. The JKEDC received a Rural Business Development Grant in 2012 and, subsequently, developed the revolving loan program. Eisenbraun reported timely payments on the only outstanding loan. The revolving loan funds currently available to qualified borrowers total approximately $58,300. Olney noted that the amortization table Eisenbraun provided to the Board enabled a better understanding of both the interest and principal paid on an individual loan. The monies in the revolving loan fund are available to Jackson county and Kadoka residents to assist with the startup of a new business or provide opportunities for existing ones to expand or improve their operations. Loan applications are reviewed and subjected to approval by an independent loan board of volunteers. The JKEDC website at www.growkadoka.com provides information on properties for sale in the area, a means of which to initiate contact the JKEDC and how to obtain further information on the application process for a loan.
Before proceeding to other matters on the meeting agenda, the Board provides residents with the opportunity to address the Board in matters related to economic development within the county. The Board proceeded to the next matter of business as there were not any residents present at the meeting to address the Board.
In matters of local real estate, Hundertmark informed the Board that the former Fromm’s Hardware store located on Main Street would be sold at auction to satisfy debts owed to the State of South Dakota and BankWest respectively. The building will be sold with plans to separately sell the remaining inventory. Hundertmark noted the down payment for a commercial loan requires a twenty percent down payment and the appraisal value is generally less than the loan value. In this case the main building and another separate structure located on the property which was recently appraised at a value of approximately $155,000. Olney noted that a previous owner noted the building may need some improvements to the heating, venting and air conditioning and the sewer systems.
Stolley reported the continued needs for housing in Kadoka as the city hired a new chief of police, but the city lacks housing to accommodate his family. The city owns a parcel of property on Maple Street and wishes to assess what would be necessary in terms of development to subdivide the parcel into site ready building lots. Olney indicated the project “could be done to accommodate newcomers with readily available options for housing.” Olney further noted that other properties in town with dilapidated structures could provide site ready building lots through a Joint Powers Agreement between the JKEDC and the City of Kadoka. He commented on one property in particular that continues to violate code enforcement ordinances by failing to maintain structures upon the property and allowing it to fall into a continued state of disrepair and dilapidation in violation of Title VII – Health and Sanitation of the Kadoka city ordinances. Eisenbraun suggested contacting property owners within the community about the possibility of renting their vacant homes to families seeking housing in Kadoka. Stolley commented that even Airbnb properties in Kadoka are fully rented through the end of the year.
Olney provided the director’s report to the Board and reported that Chris Baldwin contacted him regarding the property for the train station in Belvidere for the Chicago, Milwaukee and St. Paul Railroad and property adjacent to the station property. The City and JKEDC Joint Powers Agreement to remove uninhabitable structures applies to structures on properties located within the city of Kadoka. Stolley suggested Baldwin contact the city council in Belvidere then reach out to the state to apply for any other assistance available in Belvidere. Olney commented, “maybe get someone local to rent or loan equipment to tear down the dilapidated structures” or see if there is a “state program” available to render assistance. Either way would provide an opportunity for Belvidere to remove uninhabitable and dilapidated structures. Eisenbraun said she researched the matter and found only one program geared more towards revitalization in the community.
In order to provide information and establish contact with users, Eisenbraun announced the non-profit’s new website design at www.growkadoka.com which posts commercial and residential properties available for sale, provides incentive programs available through a multitude of sources in addition to a local business guide. Eisenbraun continued with further information about recent residential property sales in Kadoka and also noted that a local shortage on building materials has improved since the last meeting. In addition to local shortages on building materials, the turn-around time for a Governor’s House through the South Dakota Housing Development Authority is approximately one year. In closing Eisenbraun concluded that the community needs more residential and commercial properties to develop business. After approving payment for November expenses, the Board concluded their meeting with plans to meet on Dec. 1 at 6 p.m. in the community room at Gateway Apartments. The public is encouraged and invited to attend the monthly meetings.