20:09:26:19Disbursements of housing infrastructure funding.

In order to receive a periodic disbursement of housing infrastructure funding, an applicant must: (1) Enter into a written agreement; (2) Remain in compliance with the written agreement and applicable law; and (3) Provide any documentation required by the authority. The authority may not periodically disburse to the applicant an amount of housing infrastructure funding, cumulative with prior disbursals, that exceeds one-third of the accumulated total project cost of the housing infrastructure project to date. The authority may not disburse the final ten percent of the total amount of the housing infrastructure funding awarded to the applicant until after the housing infrastructure project is complete and the applicant has submitted to the authority lien waivers for all work performed and all other documentation required by the authority.

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