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The primary purpose of the HOME Program is to expand the supply of decent, safe, sanitary, and affordable housing for very low-income and low-income households as determined per the Income Limits. U.S. Department of Housing and Urban Development provides annual funding to participating jurisdictions (SDHDA) to develop their own programs in partnership with local governments, nonprofit organizations, and the private sector. The HOME Program provides funds to developers and/or owners for acquisition, new construction, and rehabilitation of affordable housing. The typical financing package would consist of 10% owner equity, 40% conventional loan and 50% HOME funds. The HOME funds are loaned at a 0% interest rate with variable repayment terms. In addition to the set-asides, there is $4,780,000 General Pool funds available for the 2012 HOME applications. The 2012 per project limit is $956,000, the per developer, sponsor, or owner limit is $1,195,000, and the per community limit is $2,390,000.
Attention HOME 2012 Applicants
HUD published a significant proposed regulation for the HOME Program in the Federal Register on December 16, 2011. Public comments on the proposed changes are due by February 14, 2012, and the final rule will be published later in 2012. There have been several significant changes affecting developers and SDHDA encourages developers and interested parties to review the proposed regulations and submit comments. For more information, please click here.
*You will need Adobe Acrobat to fill out the Application form. In order to save the Application form, you will need to have Adobe Acrobat Professional 7.0
A portion of the HOME funds are set-aside for specialized housing opportunities as detailed under Set-Asides.
For Immediate Release: May 9, 2012
For More Information Contact: Mark Lauseng, Executive Director, 773-3181
SDHDA Opens Second Application Round for HOME Program Funding
South Dakota Housing Development Authority (SDHDA) is inviting developers to submit applications for its second round of funding for the HOME Investment Partnerships Program. The HOME program provides funds to developers and/or owners for acquisition, new construction, and rehabilitation of affordable housing.
An initial application round was held in February with six applications receiving HOME funds. SDHDA will have $2,370,000 available during the second application cycle, of which $450,000 is designated as CHDO set-aside. Applications must be received by July 31, 2012, at 5:00 pm (CST). The HOME Program Allocation Plan and application form can be found on SDHDA’s website at www.sdhda.org.
Call Joanne Heckenlaible at 605.773.5159 or email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it with your HOME questions.
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Call or e-mail Joanne Heckenlaible, Housing Development Officer, with your HOME questions.
Phone: (605) 773-5159
This e-mail address is being protected from spambots. You need JavaScript enabled to view it