Governor's House price, income limits increase Beginning Aug. 1, the price of the Governor�s House will increase to $33,000.
�Fuel and materials costs have risen, so this increase has become a necessity,� said SDHDA Vice-Chairperson Cindy Mydland, following action taken at a board meeting held in Yankton.
Household income limits are being increased as well, according to Mydland.
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 $34,900 and to three or more-person households with house incomes of up to $39,900.
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.
�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. �The program is self-supporting and no federal, state, or local tax dollars are used for subsidy. This increase was necessary to keep it that way.�
�The homes are still affordable and are still serving the purpose for which they are intended,� said Mydland. �They offer low-income residents the opportunity of owning a new home; they provide for new housing stock opportunities in South Dakota, particularly in the rural communities; they add to the tax base of the community; and they provide local contractors with opportunities to add garages, additions, basements, foundations, etc.�
The price increase will also affect the 1,200 square foot Governor�s Daycare Facility, increasing it from $35,000 to $38,000.
Sales personnel and model homes are located throughout the state. Visit the South Dakota Housing Development Authority�s (SDHDA) website 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.
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