Housing Infrastructure Financing Program
SD Housing / Develop Housing / Housing Infrastructure Financing Program
On February 1, 2023, the Housing Infrastructure Fund was created to be administered by South Dakota Housing for the purpose of making loans and grants for housing infrastructure projects. Please see the Housing Infrastructure Financing Program (HIFP) Administrative Rules below for further program guidance.
South Dakota Housing began accepting applications for the Housing Infrastructure Financing Program on July 24, 2023. Applicants must submit applications through the application portal. Instructions on how to access the portal can be found below at Application Submission page.
If your application has already been approved by the Board of Commissioners, please use the Supporting Documents Upload Page to upload your documents requested by the Conditional Commitment letter.
Effective July 24, 2023 and until further notice, the current interest rate for HIFP loans is 2%. Please be advised that per the HIFP Administrative Rules, maturity of a loan may not be more than ten years from the date of loan closing with payments amortized over not more than twenty-five years.
Please refer to the Applications Received to Date spreadsheet to determine available funding.
Application review is still underway by SD Housing staff. Applications are reviewed and vetted for approval, and if approved, the projects may not receive the full amount requested. In the event there are projects that receive less than their request, or do not receive approval, and available funds do open up, SD Housing displays on the spreadsheet a waiting list. SD Housing will continue to accept applications for HIFP projects as availability of the funds permits. Applications added to the waiting list will be evaluated in the order received.
HIFP Administrative Rules – 6/13/23
PowerPoint Presentation
HIFP Application Training Video
Public Hearing Minutes
HIFP Application - (Fillable)
Exhibit 2 - Market Study Needs Criteria
Exhibit 6 - Political Subdivision Resolution Template
Exhibit 7 - Application Summary
Application Submission Page
After Board Approval, Supporting Documents Upload Page
Corporate Resolution Template
Sample Data SLFRF Reporting Tool
SDH’s Risk Assessment Tool - ARPA
TIF Rental Limits
Applications Received to Date - 2/20/24
Projects Awarded - as of 2/16/24