WATERTOWN, S.D.(KXLG)- The South Dakota Housing Development Authority possesses $200 million in workforce housing infrastructure funds, has shelved $150 million of it, and is holding out to award an additional $50 million. The discussion revolves around who is responsible for the funds and correctly granting them. Some developers already sent in applications last year when it was approved.
Watertown City Manager Amanda Mack explains more.
Mack continues the bill will come with an emergency clause so the funds can be released as soon as approved. She says this has more than likely changed the planning process of some developers as some of the funds may be restricted to projects that have not already started construction.
Some developers have some uncertainty.
The City of Watertown cannot lend much help to developers at this stage.
All the applicants are individual projects, and the City is not the actual applicant; therefore, they will not handle any of the funds or how they are granted. The funds look to help close the estimated 10,000 workforce housing gap within the state.