Housing Development

Housing Infrastructure Financing Program

During the 2022 Legislative Session, House Bill 1033 was approved, creating the Housing Infrastructure Financing Program (HIFP). HB 1033 provided for the transfer of $150 million from the general fund to the South Dakota housing opportunity fund (HOF) and provided for the transfer of $50 million in expenditure authority from the American Rescue Plan Act to SDHDA, all for the purpose of providing loans and grants for the construction of housing infrastructure. HB 1033 also imposed certain conditions and restrictions on the distribution and use of the transferred funds.

SDHDA’s Board of Commissioners delayed implementation of HIFP until further clarification by the Legislature was established.

During the 2023 Legislative Session, Senate Bill 41 was introduced, amending applicable Sections of Chapter 238 of the 2022 Session Laws and providing additional clarifications. Senate Bill 41 has been approved by the Senate and the House of Representatives. 2023 Senate Bill 41 | South Dakota Legislature (sdlegislature.gov)

Next Steps

SDHDA staff are now drafting the Administrative Rules and program guidelines for the Housing Infrastructure Financing Program. The program information will be available on SDHDA’s website for public comment when available. Please continue to check back on SDHDA’s website for further program updates. Interested parties can also join the SDHDA email list for further program updates by emailing Sheila Olson

Call or e-mail Beverly Katz, Housing Infrastructure Officer, with your HIFP questions.
Phone:
(605) 773-4522