HOME Program: For Housing Property Developers
HOME Program: For Housing Property Developers supports developers, owners, and sponsors with construction, acquisition, and rehabilitation funding to expand affordable housing for low-income South Dakotans.
Funder: South Dakota Housing Development Authority
Due Dates: November 13, 2026 (HOME-ARP) | May 31, 2027 (Rural Housing Development) | August 31, 2027 (General Pool, CHDO, Difficult to Develop)
Funding Amounts: 0% HOME loans; 2026 limits: $1.5 million per project and $1.875 million per developer
Summary: Supports acquisition, construction, and rehabilitation of affordable rental and homeownership housing for low-income South Dakotans.
Key Information: Construction, acquisition, and rehabilitation cannot begin before environmental clearance, executed HOME loan documents, and SD Housing authorization.
Description
South Dakota Housing Development Authority (SD Housing) administers HOME funding from the U.S. Department of Housing and Urban Development to expand decent, safe, sanitary, and affordable housing for very low-income and low-income households. Developers, owners, and sponsors can seek financing for rental housing and homeownership activities, including new construction, acquisition with rehabilitation, and conversion of nonresidential buildings.
Funding priorities reflect demonstrated housing need and the State Consolidated Plan, with geographic distribution across urban and rural communities. SD Housing favors financially feasible projects that deliver quality affordable units, leverage private investment, extend affordability, and demonstrate readiness to proceed. Dedicated set-asides support CHDOs, difficult-to-develop projects, rural housing, single-family homeownership, homeowner rehabilitation, homebuyer assistance, and security deposits. HOME-ARP separately supports homelessness assistance and other vulnerable populations.
