Public Housing and Economic Development Meeting Being Held

PIERRE, S.D. – October 2, 2013 – (RealEstateRama) — South Dakota Housing Development Authority (SDHDA), in partnership with the Governor’s Office of Economic Development (GOED), will be hosting a public meeting to solicit comments on the drafts of the 2014 Annual Action Plan and the amended 2013-2014 HOME Program and Housing Tax Credit allocation plans.

SDHDA and GOED prepare the Consolidated Plan which is a five-year housing and community development planning document that includes how the Community Development Block Grant (CDBG), Emergency Solutions Grant (ESG), and HOME Investment Partnerships (HOME) program funds will be allocated. The 2014 Annual Action Plan provides an annual summary of the actions, activities and the specific federal and non-federal resources that are anticipated to be available and utilized to address the needs and goals specified within the Consolidated Plan.

The HOME program provides funds to developers and/or owners for acquisition, new construction and rehabilitation of affordable housing. On July 24, 2013, HUD released the HOME Final Rule amending program regulations. Proposed changes to the HOME allocation plan include occupancy timelines, utility allowances, development characteristics, replacement reserves and implementation of program fees.

The Housing Tax Credit program is a tax credit incentive to construct, acquire and/or rehabilitate housing for low-income households. Proposed changes to the Housing Tax Credit program include a change in the reservation requirements and the placed in service/final cost certifications, along with the changes indicated above, as applicable.

The public meeting on Oct. 8, 2013, is an opportunity for the public to provide their comments regarding the draft plans. The meeting will be held at several locations throughout the state through the Dakota Digital Network (DDN). The meeting will begin at 2 pm CST (1 pm MST). DDN sites that are available for this meeting are:

Aberdeen – Northern State University Library Room 116
Brookings – Department of Transportation Building
Mitchell – Mitchell Technical Institute Room TC155
Pierre – Capitol Building Room A and SDHDA
Pine Ridge – Pine Ridge Elementary
Rapid City – SD School of Mines Room CB109
Sioux Falls – University Center Room FADM 145
Spearfish – Department of Human Services Building
Watertown – Department of Human Services Building
Yankton – Department of Transportation Building

Persons interested in making comments may do so by attending the public meeting on Oct. 8, 2013, or by sending written comments to SDHDA, attention Lorraine Polak, PO Box 1237, Pierre, S.D. 57501, by fax (605) 773-5154 or by emailing to Lorraine (at) sdhda (dot) org. All comments are due by 5 p.m. CST, Oct. 25, 2013.

Contact:
Mark Lauseng, Executive Director,
773-3181