Housing Development

Set-Asides

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

Resource/DescriptionRate
Community Housing Development Organizations (CHDO)
CHDO Application
CHDO Attachment A
Set-aside is for a nonprofit entity that has received a tax-exempt ruling under Section 501(c)(3) or (4) of the Internal Revenue Code and meets the CHDO requirements.
15% (approximately $450,000)
Homeowner Rehab Policy And Procedures Manual
Homeowner Rehab Program Application
Set-aside is for Community Action Program agencies and qualified nonprofit entities for the purpose of rehabilitating single family, owner- occupied properties.
$750,000
(maximum of $200,000 per subrecipient per year)
Homebuyer Assistance Program Term Sheet
Homebuyer Assistance Program Application
Set-aside provides gap financing, downpayment or closing cost assistance to qualified homebuyers approved for the purchase of a home, including the Governor’s House.
$200,000
Security Deposit Assistance Program Term Sheet
Security Deposit Assistance Program Application
Set-aside is for qualified Public Housing Authorities and qualified nonprofit entities for the purpose of providing security deposits to qualified families.
$200,000
Difficult to Develop Areas
Set-aside is for projects determined by SDHDA to be difficult to develop, based on site location, size of project, target tenant population, and inability to repay with normal underwriting procedures.
$500,000
Homeownership Development
Set-aside is for the development of single family homeownership; the homeowner must be identified at time of application.
$500,000
Rural Housing Development
Set-aside is for projects in communities of 5,000 or less in population.
$1,000,000

Further requirements can be found in the HOME Allocation Plan