RAPID CITY, S.D. (KELO) — Millions of dollars are heading to the Black Hills Area Community Foundation to address affordable housing issues in Rapid City.
In a news release, the Black Hills Area Community Foundation said the Bush Foundation will donate more than $3 million, $1 million to support the strategic housing initiative, $2 million to help capitalize the Rapid City strategic housing trust fund and $150,000 to evaluate, report and strategize around affordable housing work.
“We are so excited to continue to work with the Bush Foundation through our Housing Initiative,” Liz Hamburg, CEO of the Black Hills Area Community Foundation, said in a news release. “This is a long-term investment from the Bush Foundation that helps us continue the work of the Strategic Housing Initiative and spread the local housing trust fund model across the region.”
The donation is the Bush Foundation’s largest program-related investment in South Dakota. The Bush Foundation was created by Archibald Granville Bush, who helped grow the company 3M.