SF Provides $500,000 For Affordable Housing
by Associated Press
November 03, 2013 5:06 PM
The city of Sioux Falls is contributing $500,000 for affordable housing projects next year.
Darrin Smith, director of community development, says Sioux Falls is seeing an increasing need for affordable housing. More than 3,500 people are on the waiting list for rental assistance, and Smith says that prompted the city to tackle the issue of affordable housing.
The city will make available $500,000 for low-interest loans for housing projects.
Smith says the city wants to provide a pool of money that avoids federal rules. He says that will allow the selection of the best projects without having federal strings attached.