S.D. Admin. R. 12:07:12:08
Current through Register Vol. 51, page 67, December 16, 2024
An applicant must provide a minimum equity contribution of 20 percent of the total project costs. In-kind contributions, completed work, and unencumbered tangible security may be applied toward the equity contribution and total project costs if, in the judgment of the office and the lender, such contributions sufficiently contribute to the current project.
S.D. Admin. R. 12:07:12:08
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.