HOME Program: For Housing Property Developers
The HOME Program from South Dakota Housing Development Authority funds developers to build, acquire, or rehabilitate affordable housing for low-income households across South Dakota.
Funder: South Dakota Housing Development Authority
Due Dates: May 31, 2027 (Rural Housing Development set-aside) | August 31, 2027 (Annual application deadline)
Funding Amounts: Up to $1.5 million per project; $1.875 million per developer; $3.75 million per community; total pool $7.5 million annually; 0% interest loan, typical term 20 years.
Summary: Supports acquisition, construction, and rehabilitation of affordable housing for low-income households in South Dakota.
Key Information: Applications must be submitted online by 5:00 p.m. Central; set-asides for CHDOs, rural, and specialized housing.
Description
The HOME Program, administered by the South Dakota Housing Development Authority (SDHDA), provides funding to developers, owners, and eligible organizations for the acquisition, new construction, and rehabilitation of affordable housing for very low- and low-income households throughout South Dakota. The program is funded annually by the U.S. Department of Housing and Urban Development (HUD) and offers a variety of set-asides, including Community Housing Development Organizations (CHDOs), rural housing, and specialized initiatives such as security deposit assistance and homeowner rehabilitation. Funding is typically structured as a 0% interest loan with variable repayment terms, designed to fill the financing gap in affordable housing projects.
