Funding Available for Communities to Conduct Housing Needs Studies

PIERRE, S.D. – October 1, 2013 – (RealEstateRama) — South Dakota Housing Development Authority’s (SDHDA) Board of Commissioners recently approved renewed funding to the Housing Needs Study Program. During the initial program funding, 16 communities participated in the study including Belle Fourche, Beresford, Britton, Campbell County, Canton, Centerville, Crooks, Faulkton, Fort Pierre, Gettysburg, Hartford, Lemmon, Martin, Miller, Murdo and Viborg.

The cost-sharing incentive program helps rural communities in South Dakota conduct a Housing Needs Study to aid community decision-makers and the public in developing a solid sense of the housing market in their communities and an understanding of key housing issues.

SDHDA is requesting applications from interested communities. Communities with populations of 10,000 or fewer are eligible to participate in the program.

An eligible community can receive grant funding for up to 50 percent of the cost of the study, with a maximum grant of $5,000. Each community will be required to pay the remaining cost of its study from other funding avenues, which can be from donations, city funds or other sources. The program has available funding of $40,000.

The goal of each study will be to provide a measured assessment of present and future unmet housing demand, focusing on a deeper understanding of short-to-mid-term housing demand (2-year, 5-year, 10-year, and 15-year). The study is intended to help community leaders make decisions about community-specific housing policy alternatives and intervention strategies.

SDHDA has partnered with Community Partners Research, Inc. of Faribault, Minn., as the consultant, ensuring that information is gathered, reviewed, and reported in a consistent manner for each community.

Communities interested in applying for the program can do so by visiting www.sdhda.org and downloading the Housing Needs Study Application.

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.

Contact:
Mark Lauseng,
Executive Director, 773-3181