PIERRE, S.D.(KCCR)- State Representative Roger Chase of Huron was the guest speaker Tuesday for the board meeting of the Pierre Economic Development Corporation. Chase chaired the 2021 summer study on workforce housing where most of the proposed legislation passed. There were hang-ups with the most important bill to appropriate 200-million dollars for housing.
Chase says passage of the bill came at a cost to the effort to boost housing.
Chase says a revamped draft bill will be released toward the end of the year to better define where that housing funding is going. Interest rates are not helping.
Chase of Huron spoke on housing in the state from multiple angles,
PEDCO Chief Operating Officer Jim Protexter says development corporations like PEDCO may have to play a larger role in addressing South Dakota’s housing needs.
Protexter says PEDCO needs to be ready when developers approach for expansion in the Pierre area.
Chase says the interest rates are especially burdensome to younger families saving money for down payments and trying to get into homes for the first time.