State to receive more than $5.4M for affordable housing programs

By Capital Journal staff
Published/Last Modified on Wednesday, Jul 01, 2009 - 12:44:04 am CDT

SIOUX FALLS — U.S. Senator Tim Johnson, D-S.D., announced South Dakota will receive a federal grant of $5,405,055 from the Department of Housing and Urban Development. The funding comes from the American Recovery and Reinvestment Act’s Tax Credit Assistance Program.

“This funding will make more housing affordable and available to residents of South Dakota while helping to create jobs in our local communities,” Johnson said. “In these tough economic times, making housing more affordable should be our top priority and I am pleased that this economic stimulus funding is helping those who need it most.”

The funds will be used to begin affordable housing programs around the state that have been stalled by the economic recession. HUD’s Tax Credit Assistance Program will allow 26 state housing finance agencies to resume funding of affordable rental housing projects around the country. The program has allocated more than $2.2 billion in housing assistance since February.

Resources from the stimulus package are continuing to help local communities across South Dakota. Funding has already been distributed to local housing commissions to improve communities and to cities and towns to continue the Edward Byrne Memorial Justice Assistance Grant Program, for weatherization, the state energy program, rural housing programs and local health services.

Additional resources from the legislation will continue to be distributed in the weeks ahead.

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Comments

1 comment(s)

Housing wrote on Jul 7, 2009 9:57 PM:

" The housing market in the Pierre area will never be affordable. The market is to high for a teacher to afford a house on the salary they make. "

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