Any project making a claim for reduced taxation to the Planning and Development Services Department must meet one of the following criteria:
(a) An approved Low Income Housing Tax Credit Project approved by the South Dakota Housing Development Authority (SDHDA).
(b) An approved housing project with HOME Investment Partnerships Program (HOME) funding included in the project.
(c) Ten percent of the units in the project assigned Project-based vouchers (PBVs) in coordination with Sioux Falls Public Housing Agency.
(d) Twenty-five percent of total units included in the project must capped at or below "fair market rent" as published annually the U.S. Department of Housing and Urban Development.
(e) Other "Available Development Programs" as outlined by SDHDA.
(f) Projects that receive City of Sioux Falls Housing Program funding and must have a minimum of 20% of units considered affordable (65% Rent Limit).
(Ord. 41-24, passed 5-14-2024)