S.D. Admin. R. 12:22:02:05
Current through Register Vol. 51, page 46, September 30, 2024
An applicant must provide an equity contribution of a minimum of ten percent of the total project cost. In-kind contributions and completed work may be applied toward the equity contribution and total project cost if, in the judgment of the VAFA and the agency, such in-kind contributions and work completed contribute sufficiently to the current project. The equity requirement may be waived by a two-thirds vote of the VAFA, with the approval of the agency.
S.D. Admin. R. 12:22:02:05
General Authority: SDCL 1-16E-24.
Law Implemented: SDCL 1-16E-8.