S.D. Admin. R. 68:01:02:05
Current through Register Vol. 51, page 56, November 4, 2024
An applicant must provide an equity contribution of a minimum of 10 percent of the total project costs as determined by the authority.
In-kind contributions and completed work may be applied toward the equity contribution and total project costs if, in the judgment of the authority and the USDA RD, such in-kind contributions and work completed contribute sufficiently to the current project.
The equity requirement may be waived by a two-thirds vote of the authority, with the approval of USDA RD.
S.D. Admin. R. 68:01:02:05
General Authority: SDCL 1-16B-14(4).
Law Implemented: SDCL 1-16B-43, 1-16B-44.