S.D. Admin. R. 20:09:26:17
The authority may require the applicant to return housing infrastructure program funding if the applicant fails to commence construction on the housing infrastructure project within nine months of the date of the written agreement. The authority may agree to an extended construction commencement date as a term of the written agreement.
The authority may require the applicant to return housing infrastructure program funding that has not been expended by the applicant within two years of the date of the written agreement.
The executive director of the authority may authorize an extension of up to six months to the established construction commencement date or the date by which funding must be expended, if the executive director finds that mitigating circumstances prevent the applicant from meeting the deadline and the applicant has made a diligent effort to meet the deadline.
S.D. Admin. R. 20:09:26:17
General Authority: SDCL 11-15-6.
Law Implemented: SDCL 11-15-1 to 11-15-5, inclusive.