20:09:26:14Approval of housing infrastructure funding -- Conditional commitment -- Written agreement.

The board shall approve or deny an application for housing infrastructure funding based on the criteria established in § 20:09:26:06. If an application is approved by the board, the authority must issue a conditional commitment to the applicant setting forth the amount of the housing infrastructure funding, the terms and conditions of the award, and any additional documents and information to be provided by the applicant. The applicant must enter into a written agreement with the authority stating the terms and conditions of the housing infrastructure funding. If the applicant fails to enter into a written agreement with the authority by the deadline stated in the conditional commitment, the authority may either grant an extension or revoke the conditional commitment.

Source: 49 SDR 125, effective July 3, 2023; 52 SDR 10, effective August 4, 2025.