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Notice of Hearing on Bond Issues

For Immediate Release

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March 13, 2020

SDHDA Contact: Mark Lauseng

SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY
NOTICE OF HEARING ON BOND ISSUES

The South Dakota Housing Development Authority (the “Authority”) will hold a public hearing at 8:30 a.m. on Tuesday, March 24, 2020, at the Authority Conference Room, 3060 East Elizabeth Street, Pierre, SD, for the purpose of taking public testimony regarding the proposed issuance of single family mortgage revenue bonds of the Authority, in one or more series, in an aggregate principal amount not to exceed $600,000,000 (six-hundred million dollars) as part of its plan for financing lower rate mortgage loans for eligible homebuyers in the state.

The bonds proposed to be issued pursuant to this notice may refund outstanding mortgage revenue bonds of the Authority (or replace prepayments and excess revenues used for such purpose), or may be “new money” bonds utilizing a portion of the Authority’s federal volume cap allocation, or both. The bonds proposed to be issued pursuant to the plan described in this notice shall be issued pursuant to a plan of finance within 36 months of the date of issuance of the first series of bonds.

Additional information with respect to the proposed bond issues and the Authority’s program of funding lower rate mortgage loans for eligible homebuyers may be obtained from South Dakota Housing Development Authority, P.O. Box 1237, Pierre, SD 57501-1237, or by calling 605-773-3181. Written comments on the issuance of mortgage revenue bonds may be submitted through 5 p.m. on March 23, 2020.

Notice is further given to individuals with disabilities that this hearing is being held in a physically accessible place.  Please notify the Authority 48 hours before the public hearing if you have special needs for which the Authority will need to make arrangements.

The Authority does not discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin.

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South Dakota Housing Development Authority (SDHDA) is an independent, quasi-public agency that was created by the South Dakota legislature in 1973 with a stated mission to provide decent, safe and affordable housing to low- and moderate-income South Dakotans. SDHDA is a self-supporting, nonprofit entity that uses no state tax dollars to fund its operating budget. SDHDA utilizes housing bonds, tax credits and other federal and state resources to fund housing programs that provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention and rental assistance. SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin. For more information, visit www.sdhda.org

The South Dakota Housing Development Authority…Building A Better Quality of Life.

 

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