Contact:
Mark Lauseng, Executive Director,
605.773.3620
Lorraine Polak, Director of Rental Housing,
605.773.3108
Current Market and Economic Conditions Drive Adjustments
to HOME and Housing Tax Credit Plan
After reviewing the current market and economic conditions, the South Dakota Housing Development Authority (SDHDA) Board of Commissioners approved an adjustment to cost limits for the HOME Program Allocation Plan and Housing Tax Credit (HTC) Qualified Allocation Plan (QAP). A 7% adjustment has been made to the units with 0, 1, and 2 bedrooms and 13% adjustment has been made to the 3 and 4 bedroom units. Applications for HOME funds and HTC will be accepted until February 28, 2007 at 5:00 p.m. Central Time.
New project limitations for the HOME Program and Housing Tax Credit Plan have been amended to:
0 bedroom - $79,400
1 bedroom - $91,000
2 bedroom - $110,600
3-bedroom - $128,400
4 bedroom - $140,800
(Section V. paragraph A.2 of the HOME Program Allocation Plan and Section V. paragraph A. of the HTC QAP)
Applications for HOME funds and Housing Tax Credits are due February 28, 2007, no later than 5:00 p.m. Central Time. If funds remain after that date, applications will be considered on the last working week of every month from May through September 2007. The HOME and HTC application is available on our website at: www.sdhda.org. Hard copies of this document may be requested via e-mail to beth@sdhda.org or by contacting SDHDA at 605.773.3181, P.O. Box 1237, Pierre, SD 57501-1237.
The fully executed application, along with HTC application fees and the required attachments must be received by end of the business day on February 28, 2007 in hard copy form at the SDHDA office to be considered. An electronic filing of the proforma may be submitted to scott@sdhda.org (for HTC application) or ron@sdhda.org (for HOME applications).
The 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. SDHDA is a proud partner of the State’s 2010 Initiative to “Brand and Develop South Dakota’s Quality of Life as the Best in America.” For more information, visit www.sdhda.org or www.2010initiative.com.
The South Dakota Housing Development Authority…Building a Better Quality of Life.
