Governor's House price and income limits increase Beginning Oct. 18, the price of the Governor's House will increase to $30,800.
"Costs of materials have risen significantly, so this increase has become a necessity," said SDHDA Chairman Bob Sutton, following action taken at a board meeting held last week in Sioux Falls.
Household income limits are being increased as well, according to Sutton.
Governor's Houses, built by inmates at the Mike Durfee State Prison in Springfield, are available to one and two-person households with incomes up to a maximum $33,500 and to three or more-person households with house income of up to $36,750. These are increases of $500 and $450, respectively.
Net worth limits remained the same at $100,000 for families and $175,000 for elderly with liquid assets limited to $70,000 and $100,000 for the respective family and elderly circumstances.
At program inception in 1996, Governor's House's, initially built at 768 sq. ft., were priced at $19,500. In 2000, when the home size was increased to 960 sq. ft. the price was increased to $25,000, with a small increase of $500 shortly thereafter. One year ago, SDHDA increased the price to $28,000 after working to hold it steady for three years.
"We have worked very diligently to streamline all processes and systems to keep costs down and keep the homes as affordable as possible," said Dar Baum, SDHDA executive director. "But with the increases in the cost of materials, particularly dimensional lumber and metals, we just had no choice."
"The homes are still affordable and are still serving the purpose for which they are intended," said Sutton. "They offer residents an opportunity for homeownership where income levels may have previously prevented ownership; they provide for new housing stock opportunities in South Dakota's rural communities; garages, additions, basements, foundations, etc."
The price increase will also affect the 1,200 sq. ft. Governor's Daycare Facility, increasing it from $31,500 to $35,000.
Sales personnel and model homes are located throughout the state. Visit the South Dakota Housing Development Authority's (SDHDA) Web site at www.sdhda.org for contact information, model home locations, and to take a "Virtual Tour" of the houses. Or call the authority's toll-free number at 1-800-540-4241 for more information and referral to a sales member.
SDHDA, sponsoring agency for the Governor's House, is a self-supporting, quasi-public agency, which receives no state general funds. The authority does not discriminate against any person because of race, color, creed, religion, sex, handicap, familial status or national origin.