South Dakota Housing Awards $6.2 Million for Housing Infrastructure Projects
PIERRE, S.D. (2/16/24) – South Dakota Housing’s Board of Commissioners today awarded $6.2 million Housing Infrastructure Financing Program (HIFP) funds to assist with 6 housing infrastructure projects.
To date, SD Housing has received 96 applications in total for the HIFP requesting approximately $140 million of the $198 million that is available and just over $112.9 million has been awarded to 73 projects.
Below is information regarding funded recipients:
Housing Infrastructure Financing Program
Development name: Chestnut Ridge Development
Development location: Brandon
Developer: Chestnut Ridge Development LLC
HIFP General Loan Funds approved: $1,298,223
Development summary: The project consists of infrastructure development for 48 single family lots and 42 multifamily units.
Development name: East Side Sewer Main Project
Development location: Brandon
Developer: City of Brandon
HIFP ARPA Grant Funds approved: $1,154,205
Development summary: The project consists of infrastructure development for 120 multifamily units.
Development name: Jolley School Site
Development location: Vermillion
Developer: Vermillion Area Chamber & Development Corporation (VCDC)
HIFP ARPA Grant Funds approved: $325,000
Development summary: The project consists of infrastructure development for 13 single family lots.
Development name: Sedivy Lane Sanitary Sewer Improvements
Development location: Rapid City
Developer: City of Rapid City
HIFP General Grant Funds approved: $1,090,188
Development summary: The project consists of infrastructure development for 44 single family lots.
Development name: Soncy Addition
Development location: Spearfish
Developer: Shipporeit Farms, LLC
HIFP General Grant Funds approved: $1,370,000
Development summary: The project consists of infrastructure development for 18 single family lots and 92 multifamily units.
Development name: Spilde Subdivision
Development location: Aurora
Developer: Spilde Electric, Inc.
HIFP General Grant Funds approved: $1,036,867
Development summary: The project consists of infrastructure development for 111 single family lots.
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About South Dakota Housing:
South Dakota Housing Development Authority was created by the South Dakota Legislature in 1973 with a stated mission to provide opportunities for quality, affordable housing for South Dakotans. SD Housing is a self-supporting, nonprofit entity known for its commitment for providing innovative financing solutions to create and preserve affordable housing. SD Housing utilizes housing bonds, tax credits, and other federal and state resources to fund housing programs which provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention, rental assistance, and educational opportunities.