Housing Trust Fund

About The Program

The primary purpose of the Housing Trust Fund (HTF) is to expand the supply of decent, safe, sanitary, and affordable housing with primary emphasis placed on affordable housing for extremely low-income South Dakotans (30% AMI or below). The HTF was created under the Housing and Economic Recovery Act of 2008 with funding coming from Fannie Mae and Freddie Mac. The HTF Program funds developers and/or owners for the acquisition, new construction, and rehabilitation of multifamily rental housing. Other eligible activities include relocation assistance and reasonable administration and planning costs. All rental housing developed with HTF funds has a minimum 30-year affordability period. The HTF funds may be provided as zero percent loans, deferred payment loans, or forgivable loans.

The funds may be used with other funding sources such as HOME, HTC, and HOF. Applications for funding will be due annually on the last working day of August at 5:00 p.m. Central Time. Completed applications must be delivered via SD Housing's on-line submission (preferred), via U.S. Postal Service, private mailing service or hand delivery to SD Housing by 5:00 p.m. Central Time on the applicable due date. Applications via facsimile or e-mail with not be accepted.

Annually SD Housing receives a minimum of $3.0 million in funding with 90% of funding for rental housing and 10% for administration. Funding in the amount of $600,000 annually will be set aside for both housing developed on Indian Reservations and Service Enriched housing. Maximum subsidy limits can be found in Exhibit 6 of the HTF Allocation Plan.

Forms & Resources