Lake Andes, SD - A small group of key advocates met at the Andes Central School Auditorium on May 13th to celebrate the closing of financing for the new school. Representatives from the Rural Electric Economic Development Fund (REED) and Dakota Resources each presented symbolic checks in the amount of $4,750,000, to Andes Central School Board. School Board Members and staff from Andes Central were joined by directors and employees from Charles Mix Electric, REED Board Members, East River Electric staff, U.S.D.A officials, as well as staff from Dakota Resources and KMS Engineering, to take part in the check presentation.

The REED Fund and Dakota Resources were able to make the $9.5 million loan by utilizing the Re-Lenders fund program through the United States Department of Agriculture. These funds were set aside by U.S.D.A. for the purpose of financing community facilities such as schools, health care facilities, community centers, and emergency services. “These loans are made to businesses and organizations regardless of who serves electricity to them, “ stated Ken Schlimgen, Central Electric Manager and the REED Fund Board Chairman. “It is all about doing what is right for all South Dakotans.”

Dakota Resources and REED will continue to put these funds to good use. As these loans are repaid to these two organizations, it will be reinvested in other entities, rotated and re-loaned to promote growth of businesses and communities throughout South Dakota. “Charles Mix Electric is proud to be involved in the REED fund“, stated Russell Gall, Charles Mix General Manager. “It’s good to know these funds not only helped the finance the Andes Central School, but will continue to impact communities across the state.”

The REED Fund was created in 1996 by the rural electric cooperatives in eastern South Dakota and now includes cooperatives from Minnesota and western South Dakota. The REED fund provides business and community project financing in partnership with commercial and other economic development lenders to leverage private investment. The REED Fund has loaned over $90,000,000 to businesses throughout the region and created or maintained over 9,100 jobs.