PIERRE, S.D. – June 8, 2015 – (RealEstateRama) — Today Gov. Dennis Daugaard announced the use of discretionary funds from the Housing Opportunity Fund to aid in the recovery of those affected by the recent tornado in Delmont.
Households in need of assistance may apply for a grant of up to $5,000. Documentation of any FEMA, Small Business Administrative (SBA) assistance and insurance proceeds will be used to determine actual amount of assistance available per household.
Funds can be used for the following items:
- Clean up (removal of debris, etc.)
- Purchasing of a hot water heater, furnace or major appliances lost due to the disaster
- Payment of rental and utility security deposits for displaced households
- Downpayment assistance for purchase of a housing unit
Households at or below 115 percent of the Douglas County Area Median Income are eligible to apply. The 115 percent AMI for Douglas County are included on South Dakota Housing’s website. The 2014 Adjusted Gross Income listed on the 2014 IRS Tax Return will be used to verify income eligibility.
Applications can be submitted starting June 1, 2015. The deadline for applications is August 31, 2015.
Persons interested in applying for funds may do so by completing the application form found on the SDHDA website: www.sdhda.org. Persons not able to access via the internet may also request an application sent to them by calling 605.773.3181 or 800.540.4241
The Housing Opportunity Fund (HOF) Program was created through Senate Bill 235 during the 2013 Legislative Session. Annually $100,000 is set aside for discretionary use that is consistent with the objectives of the HOF.
For more information contact Chas Olson at 605.773.3181 or Chas (at) sdhda (dot) org.
South Dakota Housing Development Authority (SDHDA) is an independent, quasi-public agency that finances and develops affordable housing opportunities for low and moderate-income residents throughout South Dakota. SDHDA is totally self-supporting and receives no tax money, appropriations or other funding from the State. SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin. For more information, visit www.sdhda.org.
The South Dakota Housing Development Authority…Building a Better Quality of Life.
Mark Lauseng, Executive Director, 605-773-3181