Hamburg said they know it has only grown bigger since then.
Hamburg said the Strategic Housing Fund was working to raise $ 5 million and so far had $ 2.5 million available. She said there was a million dollar challenge to Rapid City from the Dakota Charitable Foundation and that if the city gave at least $ 5 million, the Dakota Charitable Foundation would give them another million. dollars.
She said they also hoped to receive $ 2 million from county and state funds, as Gov. Kristi Noem identified housing as a statewide priority. She said they hope to work with the South Dakota Housing Development Authority and the trust fund.
“We cannot continue to do things the same way and make progress,” she said. “We have to try to do things differently and be innovative and that’s what it is.”
Chris Huber, donor relations manager for the Black Hills Area Community Foundation, said the Vision Fund was created to support big ideas after the 1972 floods that caused millions of dollars in damage to Rapid City.
“It was set up to change the landscape of ideas, and we think the trust fund is that,” he said.
Hamburg said the trust fund received its first request. A loan of $ 550,000 goes to CommonBond, an affordable housing non-profit organization that works with residents to help them achieve their goals with integrated on-site services and serves approximately 13,000 people in 60 cities. The project will bring 42 units on Lacrosse Street.