Housing Trust Fund
The primary purpose of the Housing Trust Fund (HTF) is to expand the supply of decent, safe, sanitary, and affordable housing with primary emphasis placed on affordable housing for extremely low-income South Dakotans (30% AMI or below). The HTF was created under the Housing and Economic Recovery Act of 2008 with funding coming from Fannie Mae and Freddie Mac. The HTF Program provides funds to developers and/or owners for acquisition, new construction, and rehabilitation of multifamily rental housing. Other eligible activities include relocation assistance and reasonable administration and planning costs. All rental housing developed with HTF funds has a minimum 30 year affordability period. The HTF funds may be provided as zero percent loans, deferred payment loans, or forgivable loans.
The funds may be used in conjunction with other funding sources such as HOME, HTC, and HOF. Applications for funding will be due annually on the last working day of July at 5:00 p.m. Central Time. Completed applications must be delivered (via U.S. Post Service, private mailing service, hand delivery, or submitted via SDHDA's on-line submission) to SDHDA by 5:00 p.m. Central Time on the application due date. Applications via facsimile or e-mail with not be accepted.
$5 million available
$1 million per project
$1.25 million per developer
Annually SDHDA receives a minimum of $3.0 million in funding with 90% of funding for rental housing and 10% for administration. Funding in the amount of $600,000 annually will be set aside for both housing developed on Indian Reservations and Service Enriched housing. Maximum subsidy limits can be found in Exhibit 6 of the HTF Allocation Plan.
Housing Trust Fund Allocation Plan
Housing Trust Fund Application
Housing Trust Fund Supplemental Application- To be used only if also applying for HOME and/or Housing Tax Credit Funding
Housing Trust Fund Income Limits
Housing Trust Fund Rent Limits
Housing Trust Fund Annual Reservation List
Housing Trust Fund Cumulative Reservation List
Call or email DeNeil Hosman, Housing Development Officer, with your HTF questions.
Phone: (605) 773-4247