PIERRE, S.D. – May 22, 2015 – (RealEstateRama) — The South Dakota Housing Development Authority (SDHDA) Board of Commissioners recently approved the funding of 15 projects with money from the Housing Opportunity Fund (HOF). The HOF program was created via the “Building South Dakota Fund” during the 2013 Legislative Session and was designed to promote economic development in South Dakota by expanding the supply of affordable housing.
The HOF projects will provide new single family homes, new single family rental units, new and rehabbed multifamily rental units, homelessness prevention and homebuyer assistance for an estimated 321 South Dakotans.
Below is information regarding the HOF recipients:
Development Name: Saint Patrick Street Construction
Development Location: 606 Saint Patrick S., Rapid City
Developer: Black Hills Area Habitat for Humanity
Housing Opportunity Funds Reserved: $51,157
Development Summary: The new construction of a single-family home.
Development Name: Down Payment/Closing Cost Assistance Program
Development Location: Rapid City and Sioux Falls
Developer: GROW South Dakota
Housing Opportunity Funds Reserved: $275,000
Development Summary: Funding for a down payment/closing cost assistance program to assist 25 homebuyers.
Development Name: Down Payment/Closing Cost Assistance Program
Development Location: Scattered Sites
Developer: GROW South Dakota
Housing Opportunity Funds Reserved: $275,000
Development Summary: Funding for a down payment/closing cost assistance program to assist 50 homebuyers.
Development Name: Habitat for Humanity Greater Watertown Region House #27
Development Location: 823 1st Ave. SW, Watertown
Developer: Habitat for Humanity Greater Watertown Region
Housing Opportunity Funds Reserved: $62,000
Development Summary: The new construction of a single family home.
Development Name: Habitat for Humanity – Building Houses, Building Neighborhoods
Development Location: 4201, 4205, 4209, 4601, 4605 Pat St.; 2602 Wright St.; 1317 N. Dakota Ave., Sioux Falls
Developer: Habitat for Humanity of Greater Sioux Falls
Housing Opportunity Funds Reserved: $346,640
Development Summary: The new construction of seven single-family homes.
Development Name: Nome Street Project House #39
Development Location: 111 Nome St., Yankton
Developer: Habitat for Humanity of Yankton County
Housing Opportunity Funds Reserved: $55,000
Development Summary: The new construction of a single family home.
Development Name: HAPI Homebuyer Assistance
Development Location: Scattered Sites
Developer: Homes Are Possible, Inc.
Housing Opportunity Funds Reserved: $231,000
Development Summary: The development of a homebuyer assistance program to assist 120 homebuyers.
Development Name: Inter-Lakes Community Action Partnership Emergency Solutions Grant Program
Development Location: Scattered Sites
Developer: Inter-Lakes Community Action Partnership
Housing Opportunity Funds Reserved: $79,618
Development Summary: Funding for a homelessness prevention program to assist individuals or families with rental deposits, rental assistance and case management.
Development Name: Inter-Lakes Community Action Partnership Emergency Solutions Grant Program
Development Location: Sioux Falls
Developer: Inter-Lakes Community Action Partnership
Housing Opportunity Funds Reserved: $82,382
Development Summary: Funding for a homelessness prevention program to assist individuals and/or families with rental deposits, rental assistance and case management.
Development Name: Rural Homebuyer Gap Financing Program
Development Location: Scattered Sites in Western South Dakota
Developer: NeighborWorks® Dakota Home Resources
Housing Opportunity Funds Reserved: $60,000
Development Summary: The development of a gap-financing program to assist eight homebuyers.
Development Name: Title VI Lot Enhancement
Development Location: Pine Ridge Indian Reservation
Developer: Oglala Sioux (Lakota) Housing
Housing Opportunity Funds Reserved: $675,000
Development Summary: The new construction of 45 single-family homes for rent.
Development Name: Down Payment and Closing Cost Assistance/Rehabilitation Program
Development Location: Rapid City
Developer: Rapid City Community Development Corporation
Housing Opportunity Funds Reserved: $130,000
Development Summary: The development of a homebuyer assistance/rehabilitation program to assist 20-25 homebuyers.
Development Name: IOOF Main Building
Development Location: 100 W. 10th St., Dell Rapids
Developer: Rasmusson Properties
Housing Opportunity Funds Reserved: $91,407
Development Summary: The rehabilitation of a three story, nine-unit apartment complex.
Development Name: Field of Dreams
Development Location: 4501 E. 15th St., Sioux Falls
Developer: Sioux Falls Housing Corporation dba Affordable Housing
Housing Opportunity Funds Reserved: $132,000
Development Summary: The development of a homebuyer assistance program to assist 12 homebuyers.
Development Name: Pettigrew Manor
Development Location: 633 W. 10th St., Sioux Falls
Developer: Sioux Falls Housing Corporation dba Affordable Housing
Housing Opportunity Funds Reserved: $200,000
Development Summary: The new construction of an eight-unit townhome complex for rent.
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South Dakota Housing Development Authority is an independent, quasi-public agency that finances and develops affordable housing opportunities for low and moderate-income residents throughout South Dakota. SDHDA is a self-supporting, nonprofit entity that uses no State tax dollars to fund its operating budget. SDHDA utilizes housing bonds, tax credits, and other federal and state resources to fund housing programs, which provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention, and rental assistance. 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, 605-773-3181
