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We are pleased to welcome three new members to the SDHDA Board of Commissioners. We look forward to the knowledge and depth that each brings to the policy-making body of SDHDA.
We also welcome Governor Rounds' inclusion of SDHDA in his vision for the newly formed South Dakota Office of Tourism and State Development and his appointment of Watertown businessman John Calvin as Secretary of the new department. The Governor's action emphasizes the importance of coordinating the promotion of our state's tourism industry with development of strong communities with vibrant and growing economies supported by healthy cultural environments and active housing markets and industries while preserving our state's rich history. Secretary Calvin is the first to proclaim that South Dakota's economic development programs provided him the necessary tools to be successful in South Dakota, and he is quick to confirm his love for the arts and history and his interest in historical preservation. Several SDHDA staff members have been included in planning sessions to ensure that comprehensive planning efforts among the various agencies result in a coordinated method of delivering state resources.
Three additional highly important initiatives are underway at SDHDA.
1) South Dakota's 5-year Consolidated Housing and Community
Development Plan is undergoing its annual review and update.
We are accepting comments and suggestions for the use of the various
funds related to housing and community development in the state.
2) The related HOME Investment Partnership and Housing Tax
Credit Plans are undergoing their biennial review and update.
3) We are busily preparing the sessions for our upcoming Annual
Housing Conference.
All three of these initiatives provide our partners with the opportunity to participate in crafting housing policy for South Dakota. SDHDA's Annual Housing Conference provides an outstanding forum at which to meet other housing advocates and providers, to receive training on using the various programs available, and to meet the professionals from the various federal and private funding agencies. Please take the time to comment on the Plans, add your suggestions, and share your expertise by making suggestions for Conference sessions and by attending the Conference to share your knowledge and experiences with others in the state.
As we march through the summer season, SDHDA continues to offer its lowest First-time Homebuyer mortgage rates ever. With the Step rate beginning at 3.75% and the 30-year mortgage rate at 4.75%, the Homeownership staff is again running at peak production.
SDHDA's preliminary affordable housing production numbers are in for FY 03. We note record prepayments as folks refinanced out of the First-time Homebuyer loans. However, we had a very successful year and continue to provide invaluable affordable housing opportunities to South Dakota. And we at SDHDA know that it could not be done without you, our affordable housing partners. Keep up the good work.
Dar Baum, Executive Director
SDHDA
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