S.D. Admin. R. 20:09:24:02

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:09:24:02 - Eligibility

Loans or other authority financing may be provided to rural site development projects which meet the following criteria:

(1) The applicant must provide evidence of credit worthiness and repayment ability;

(2) The applicant must provide a plan for the development including the use of a qualified development team including all skills anticipated to be required for the eventual success of the development project;

(3) In evaluating projects for funding, the authority may give a preference for those applications which establish the lowest purchase price and income limits for homes constructed on the development project.

S.D. Admin. R. 20:09:24:02

22 SDR 64, effective 11/12/1995.

General Authority: SDCL 11-11-30, 11-11-128, 11-11-141, 11-11-143, 11-11-165, 11-11-180.

Law Implemented: SDCL 11-11-99, 11-11-110, 11-11-118.