City offering funds for affordable housing projects
The city is offering money to developers working on affordable housing projects in Sioux Falls.
Developments must be located within city limits and:
- Involve construction of new affordable housing units, rehabilitation and conversion of market rate housing units to affordable housing or rehabilitation and conversion of nonresidential use to affordable housing; - Contain units affordable to households at or below 80 percent of the median family income with a goal to reach households as low as 30 percent of median family income; and - Remain affordable for a minimum of 20 years with a longer affordability period desired by the city.
The city will provide up to $500,000 for one or more projects. Proposals are due by Dec. 5.
Information can be found on the city's website and questions should be directed to Darrin Smith, director of community development, at 605-367-8178.
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