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Sioux Falls will help fund new low-income housing

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Sioux Falls, SD (KELO-AM)  City of Sioux Falls officials announced on Wednesday City funding for the development of a large affordable housing project proposed for southwest Sioux Falls.

In late 2013, the City announced it would make funding available to support a large affordable housing project via a competitive request for proposals process. In early December, the City received six project proposals seeking varying levels of funding. These proposals were reviewed and scored by an evaluation committee.

The City is pleased to announce an award of $350,000 to support the Westwood Apartments project, a 56-unit apartment complex to be located in southwest Sioux Falls. This nearly $8-million project will provide affordable housing units for tenants with incomes that range from at or below 30 percent to 60 percent of the area median income in the Sioux Falls Metropolitan Statistical Area. The City’s funding to assist the project will be in the form of a loan and will be repaid to the City in equal annual payments.

(courtesy City of Sioux Falls)

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