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$12 Million Awarded for Affordable Housing in South Dakota
South Dakota Ag Connection - 11/18/2020

South Dakota Housing Development Authority's (SDHDA) Board of Commissioners Tuesday awarded more than $12 million to assist South Dakotans with newly constructed multifamily housing, single family housing, homebuyer assistance, homeowner rehabilitation, and homelessness prevention.

The developments will receive $3.7 million in Housing Tax Credits, $4.6 million in HOME Investment Partnership Program funds, $1.5 million in Housing Opportunity Funds and $2.4 million in Housing Trust Funds.

The 20 projects funded will provide South Dakotans with 273 newly constructed and 16 rehabilitated multifamily housing units and four single-family homes. The approved funding will provide downpayment assistance for 61 households, homeowner rehabilitation for 28 homeowners and provide services and financial support for 14 households who are homeless or at risk of becoming homeless.

"Funding is awarded annually to developers through a highly competitive application process," said Executive Director Mark Lauseng. "This year was no exception, with 31 applications received requesting more than $18 million."

"The developments funded will result in over $51 million in total development costs, preserving and strengthening South Dakota's affordable housing stock," said David Pummel, SDHDA board chairman. "The affordable housing units will help low-income families, elderly residents, individuals with disabilities and homeless citizens with a place to call home."

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