Sioux Falls, SD (KELO-AM) $1.2 million in revolving City general funds will be used to build eight homes for low income families in Sioux Falls, according to Affordable Housing Solutions.
Director Wayne Wagner says proceeds from the sale of the homes will be turned around and used for future projects.
He says each home will have City of Sioux Falls Neighborhood Revitalization funds for acquisition and removal of the former dilapidated structures along with HOME funds administered by Sioux Falls Community Development.
The HOME program requires buyers to meet income guidelines and have the credit worthiness to obtain a mortgage for the purchase price. Down payment assistance programs are also available to qualified applicants through GROW SD and SF Community Development.
Buyers must utilize the homes for their primary residence and have a payback on the assistance if they own the home for less than ten years. The new homeowners are provided new, energy efficient appliances with selling prices between $124,900 and $129,900.
Five homes are in the process of being built
- · 313 North Jessica
- · 2500 South Holly
- · 912 North Wayland
- · 402 South Highland
- · 301 South ST Paul – House being built at the Sioux Falls School District CTE Academy for placement this summer
The other three will get started in the next 30-60 days
- · 720 North Duluth
- · 413 West 16th street
- · 812 South Spring Avenue