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 for families and individuals in South Dakota.

Donor Name: South Dakota Housing
State: South Dakota
County: All Counties
Type of Grant: Grant
Deadline: (mm/dd/yyyy) 08/30/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: Grant Duration Not Mentioned
Details:
The HOF is being administered by South Dakota Housing and the SD Housing Board of Commissioners. 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.
Funding Information

Development Projects

Rural Development: Application Limit of $350,000
Urban Development: Application Limit of $150,000

Eligible Activities
Activities allowed under HOF include: 

Rental Housing 

New construction, acquisition, rehabilitation, or conversion of a building for rental housing (permanent or transitional) are eligible activities.

Homeownership 

Funds may be used for new construction, or acquisition with rehabilitation of single-family housing units.

Eligibility Criteria

Eligible Projects

HOF funds may be used for new construction, acquisition and rehabilitation of rental housing, the purchase of homeownership housing, substantial or moderate rehabilitation of rental or homeownership housing, housing preservation, including home repair, and rehabilitating homes to make them accessible to individuals with disabilities, homelessness prevention activities, and community land trusts. Housing developments previously receiving HOF funds will not be considered as an eligible project until such time the initial affordability period or the extended use period has been met. 

Eligible Applicants

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. No individual may apply for funding directly unless authorized by SDHDA. 

Eligible Households

HOF funds shall be targeted to serve low to moderate income households with a maximum income at or below one hundred fifteen percent (115%) of the county areamedian income (AMI) or state area median income (AMI), whichever is higher, based on the U.S. Department of Housing and Urban Development (HUD) criteria.

For more information, visit HOF.