A state housing board has approved rules that would allow up to $30 million in low-interest loans to help fund major airport expansion projects in Rapid City and Sioux Falls.
The South Dakota Housing Development Authority voted Wednesday to advance the rules implementing a law signed by Gov. Larry Rhoden earlier this year. The measure authorizes loans of up to $15 million each for the state’s two largest commercial airports.
Rapid City Regional Airport plans to expand its concourse with five additional gates and increased passenger space, while Sioux Falls Regional Airport is constructing a new concourse featuring up to five new gates and 57,000 square feet of additional seating and circulation space. Both projects are expected to exceed $100 million in cost.
The proposed rule change now heads to the Legislature’s Interim Rules Review Committee for further consideration.
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