Filed as: South Dakota Housing - Housing Infrastructure Fund
The South Dakota Housing Development Authority is establishing a new loan program for airport infrastructure improvements and maintenance. Airports that own or operate facilities can now apply for loans from the Housing Infrastructure Fund by submitting an application form with information about their proposed project, which will be evaluated based on ownership status and compliance with applicable design standards and regulations. If approved by the authority's board, the airport and authority must enter into a written agreement setting forth the loan terms and conditions.
AI-generated from the proposed rule text — verify against the official documents.
The effect of the proposed rules is to establish a clear process for the application, approval, and disbursement of loans from the South Dakota Housing Infrastructure Financing Fund, as authorized by SDCL Chapter 11-15. The proposed rules are intended to support the new law that allows loans for airport infrastructure.
Representative DeGroot moved to deem the process complete, seconded by Senator Mehlhaff; the motion passed 4-2, with Senators Howard and Hansen dissenting on grounds that the underlying SB 76 appropriation should have required a two-thirds vote. The rules establish an application, evaluation, and approval process for Housing Infrastructure Fund loans for airport infrastructure.
No specific cites listed — see the package documents.