SMSC Loans $20 Million to MHA Nation
The Shakopee Mdewakanton Sioux Community (SMSC) is providing financial help for debt consolidation and infrastructure projects in the amount of $20 million to the Mandan, Hidatsa, and Arikara Nation (MHA Nation), formerly known as the Three Affiliated Tribes of the Fort Berthold Reservation in North Dakota.
The loan will fund a building to house the Indian Health Service clinic, road construction, sewer and water projects, and other utilities.
The new loan from the SMSC will refinance the MHA Nation's $30 million loan from 2009 for several economic development and community infrastructure projects. The 2011 loan will also provide funding for additional projects.
The SMSC operates Mystic Lake Casino and Little Six Casino in Minnesota, and other enterprises, such as Mazopiya, Playworks, Dakotah! Sport and Fitness, The Meadows at Mystic Lake, Shakopee Dakota Convenience Stores, and more on the reservation south of the Twin Cities.
The SMSC runs a charitable giving program, and has made a total of more than $396 million in loans to other tribes for economic development projects. Already in fiscal year 2011, the SMSC has announced more than $14 million in grants.
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