Housing Opportunity Fund
The South Dakota Housing Opportunity Fund (HOF) is designed to promote economic development in South Dakota by expanding the supply of decent, safe, sanitary and affordable housing targeted to low and moderate income families and individuals in South Dakota. The HOF was created via Senate Bill 235 the “Building South Dakota Fund” during the 2013 legislative session. As outlined in South Dakota Codified Law 11-13, the HOF is being administered by South Dakota Housing Development Authority (SDHDA) and the SDHDA Board of Commissioners (SDHDA Board). HOF funds may be used for new construction or the purchase and rehabilitation of rental or homeownership housing, housing preservation, including home repair grants and grants to make homes more accessible to individual with disabilities, homelessness prevention activities, and community land trusts. Any for-profit entity, nonprofit entity, tribal government, housing authority, political subdivision of this state or agency of such subdivision, or agency of this state is eligible to apply for funding.
Housing Opportunity Fund Applications
Applications for rental housing development, homeownership development, and programs will be accepted annually during a competitive cycle with applications being due July 31st at 5:00 pm Central Time. If funds remain unallocated after the competitive cycle, SDHDA may hold another application cycle on a first come, first served basis with applications being accepted January 1st through May 31st or until the funds are exhausted. Completed applications (refer to Exhibit 1 of the Housing Opportunity Fund Plan Application for instructions) must be delivered to SDHDA via U.S. Postal Service, private mailing service, or submitted via SDHDA's on-line submission. Applications via facsimile or e-mail will NOT be accepted.
Project Funding Available
Rural Development: $1,370,000 with an application limit of $342,500
Urban Development: $586,000 with an application limit of $146,500
Program Funding Available
Rural Programs: $456,000 with an application limit of $114,000
Urban Programs: $194,000 with an application limit of $48,500
Housing Opportunity Fund Allocation Plan
Self Scoring Worksheet - **Applicants are requested to complete and submit the Self Scoring Worksheet with their Housing Opportunity Fund Application**
Homeownership and Program Application
115 AMI for Housing Opportunity Fund
HOF Supplemental Application - To be used only if also applying for HOME and/or Housing Tax Credit and/or Housing Trust Fund Funding
Call or email Amy Eldridge, Housing Development Officer, with your Housing Opportunity Fund program questions.
Phone: (605) 773.2467