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South Dakota 125 Anniversary

Set-Asides

SDHDA distributes HOME funds geographically throughout eligible areas of the state, taking into consideration the following percentage set-asides:

Community Housing Development Organizations 15%
 Homeowner Rehab Policy and Procedures Manual
 Homeowner Rehab Program Application
$500,000
 Governors House Pilot Program Term Sheet
 Governors House Pilot Program Application
$200,000
 Security Deposit Assistance Program
 Security Deposit Assistance Program Application
$125,000

Federal regulations require 15 percent of the HOME funds to be designated for Community Housing Development Organizations (CHDOs).  A CHDO is a nonprofit entity that has received a tax-exempt ruling under Section 501 (c) (3)  or (4) of the Internal Revenue Code, meets the CHDO requirements found within the HOME plan, and provides housing opportunities as outlined in the HOME plan.

HOME funds are set-aside for Community Action Program (CAP) agencies and qualified non profit entities for the Homeowner Rehab Program.  The primary purpose of this program is to rehabilitate single family, owner occupied properties.