South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:09 - HOUSING DEVELOPMENT AUTHORITY
Chapter 20:09:24 - Rural site development program
Section 20:09:24:02 - Eligibility
Current through Register Vol. 50, page 114, March 25, 2024
Loans or other authority financing may be provided to rural site development projects which meet the following criteria:
(1) The applicant must provide evidence of credit worthiness and repayment ability;
(2) The applicant must provide a plan for the development including the use of a qualified development team including all skills anticipated to be required for the eventual success of the development project;
(3) In evaluating projects for funding, the authority may give a preference for those applications which establish the lowest purchase price and income limits for homes constructed on the development project.
General Authority: SDCL 11-11-30, 11-11-128, 11-11-141, 11-11-143, 11-11-165, 11-11-180.
Law Implemented: SDCL 11-11-99, 11-11-110, 11-11-118.
