Applications for the Development of Affordable Housing Being Accepted
PIERRE, S.D. – South Dakota Housing (SDH) is inviting developers to apply for funding to help communities meet their housing needs. Funding is available in 2025 through the HOME Investment Partnerships, Housing Tax Credit, Housing Opportunity Fund, and Housing Trust Fund programs.
Any nonprofit, for-profit entity, tribal government, housing authority, political subdivision of South Dakota or agency of South Dakota is invited to apply.
Here is a quick snapshot of each program:
- HOME Program
Funded by the U.S. Department of Housing and Urban Development (HUD), this program provides funds to developers for acquisition, new construction or rehab of affordable housing – single and multifamily. Projects must serve households at 80 percent of the Area Median Income (AMI) or below.
- Housing Trust Fund
Also funded by HUD, this program helps increase affordable rental housing for extremely low-income South Dakotans at 30 percent AMI and below.
- Housing Tax Credit Program
Created under the Internal Revenue Code of 1986, this program incentivizes the construction or rehab of housing for low-income households at 60 percent AMI and below. Developers typically raise equity by syndicating these tax credits to investors.
- Housing Opportunity Fund
This flexible fund can support rental or homeownership housing, including new construction and rehab. It also covers homebuyer assistance, home repairs and homelessness prevention. While funding for housing development was exhausted in the open round, applications for assistance programs will be accepted during the competitive cycle in August. Programs can serve up to 115 percent AMI.
Program allocation plans and application forms can be found on SD Housing’s website at www.sdhousing.org.
Applications are due by 5 p.m. Central Time Friday, Aug. 29.
Funding awards are anticipated to be announced in December. For more information on the housing development programs, reach out to a housing development officer at 605.773.3181.
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About South Dakota Housing
South Dakota Housing was created by the South Dakota Legislature in 1973 with a stated mission to provide opportunities for quality, affordable housing for South Dakotans. South Dakota Housing is a self-supporting, nonprofit entity known for our commitment for providing innovative financing solutions to create and preserve affordable housing. South Dakota Housing 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, rental assistance, and educational opportunities.
For more information:
Chas Olson, Executive Director, SD Housing, 605.773.3181
