The City of Mitchell is seeking up to $25 million of funding from the South Dakota Board of Water and Natural Resources for a project that will consist of various components designed to improve the health of Lake Mitchell.
The project will include, but is not limited to, drawing down the lake to expose sediments, thereby facilitating mechanical dredging of soft sediment in the lake, and management of impacts of future sediment and nutrient loading from external sources.
The funds could be either a grant from the state Consolidated Water Facilities Construction Program or a loan from the Clean Water State Revolving Fund (CWSRF) Program.
The expected loan term for the Clean Water SRF loan is 3.25 percent for 30 years, and the Board of Water and Natural Resources may forgive all or a portion of the loan principal.
The amount, source of funds, and terms will be determined by the Board of Water and Natural Resources when the application is presented at a scheduled board meeting.
Also, the purpose of the public hearing is to discuss the proposed project, the proposed financing, and the source of repayment for the loan.
The public hearing will be held in the Mitchell City Hall council chambers on June 20, 2023 at 6:00 PM.