S.D. Admin. R. 20:09:26:19

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:09:26:19 - Disbursements

In order to receive a periodic disbursement of housing infrastructure program funding, the applicant must:

(1) Enter into a written agreement;

(2) Remain in compliance with the written agreement and applicable law; and

(3) Provide any documents required by the authority.

The authority may not periodically disburse to the applicant an amount of housing infrastructure program 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 program 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.

S.D. Admin. R. 20:09:26:19

49 SDR 125, effective 7/3/2023

General Authority: SDCL 11-15-6.

Law Implemented: SDCL 11-15-1 to 11-15-5, inclusive.