1. Tourism and State Development

2. South Dakota Housing Development Authority FY1999 to FY2009 Budget Comparison Funding Sources: SDHDA is totally self-supporting and has received no State tax dollars or appropriations Federal Funds Administration fees for federal housing programs Other Funds Commitment fees for first-time homebuyer loans Program application, loan and administration fees Governors House Program sales Investment income Other fees Federal Funds $745,000 Other Funds $2,106,305 Federal Funds $1,665,346 Other Funds $8,390,067 FTE: 31.0 FTE: 64.0

3. South Dakota Housing Development Authority Created in 1973 as an independent instrumentality Investment of private capital for affordable housing Authorized to issue Bonds and Notes 7 Commissioners appointed by the Governor and confirmed by the Senate

4. SDHDA Board of Commissioners Chairman – Bob Sutton, Pierre Vice-Chair – Cindy Mydland, Brookings Treasurer – Jim Roby, Watertown Commissioner – Zack Word, Rapid City Commissioner – Curt Jones, Britton Commissioner – Linda Barker, Sioux Falls Commissioner – Lloyd Schipper, Pierre

5. SDHDA Departments and Staff Executive – 3 staff Finance and Administration – 9 staff Homeownership – 9 staff Rental Housing Development – 5 staff Rental Housing Management – 16 staff Research and Marketing – 1 staff Governors House – 21 staff

6. SDHDA Programs First-time Homebuyer Program Funded through the sale of tax-exempt bonds FY08, 2,744 loans, $295 million Have provided first-time homebuyer loans to 68,869 residents of South Dakota Over $4.1 Billion in loans purchased Loans originated by 53 Participating Lenders with over 300 branch locations

7. SDHDA Programs First-time Homebuyer Program Standard & Poors Bond Rating AAA 1 of 5 natural AAA ratings among State Housing Finance Agencies SDHDA has financed the highest amount of loans per capita of all states SDHDA ranks 16 th among states in total loans while ranking 46 th in population

8. SDHDA Programs Standard & Poors Bond Rating April 8, 2008 The AAA rating of the parity resolution has been affirmed. The long-term component of the rating on the bonds reflects Extremely strong credit quality and strong track record of the mortgage loan collateral, Sufficient loan loss protection at the AAA rating level, Fully funded reserves providing ample liquidity, Extremely high-quality investments, Cash flow strength, and A strong asset-to-liability ration.

9. SDHDA Programs Moodys Bond Rating July 18, 2007 The Aa1 rating with a positive outlook reflects Moodys expectation that the program will remain solid, if not grow, financially over the near-to-mid term as a result of SDHDAs sound financial position, portfolio composition and performance, and capable management oversight.

10. SDHDA Programs Housing Tax Credit Program IRS Housing Program started in 1987 Method of funding for low-and moderate- income households Tax credits are determined by development costs Credits are generally sold to syndicators and proceeds are used as equity in project

11. SDHDA Programs Housing Tax Credit Program South Dakota receives over $2 million in credits annually Since 1987, $30.7 million in credits allocated Credits have provided $470 million in capital expenditures 7,245 housing units have been created or rehabilitated

12. SDHDA Programs HOME Investment Partnership Program Funded through US Department of Housing and Urban Development (HUD) Provides low interest rate loans for rental and homeownership opportunities Provides forgivable loans and grants for homeowner rehab and security deposits

13. SDHDA Programs HOME Investment Partnership Program Annual SDHDA receives $3.5 million in funding Program has loaned over $52.6 million Created $152.8 million in housing development resulting in over 1,300 housing units

14. SDHDA Programs Villa Apartments – Canton, SD

15. SDHDA Programs Villa Apartments – Canton, SD

16. SDHDA Programs Knollwood Apartments – Rapid City, SD

17. SDHDA Programs Knollwood Apartments – Rapid City, SD

18. SDHDA Programs Sunrise III Apartments – Mission, SD

19. SDHDA Programs Hills Apartments – Deadwood, SD

20. SDHDA Programs Deer Hollow – Hartford, SD

21. SDHDA Programs Redwood Court – Brandon, SD

22. SDHDA Programs Williamsburg II – Sioux Falls, SD

23. South Dakota Housing Development Authority Governors House Program

25. SDHDA Programs Governors House Program Program started in 1996 To Date: -1,708 Homes Sold -1,674 Homes Constructed -1,622 Homes Delivered Sales Price $33,000 Buyers must meet Income and Net Worth Program Requirements

26. South Dakota Housing Development Authority Professional Organizations and Boards National Council State Housing Agencies National Affordable Housing Management Association State Interagency Council on Homelessness South Dakota Home Builders Association South Dakota Realtors Association South Dakota Bankers Association

27. 2010 Initiative Goal Four – Brand and Develop South Dakota s Quality of Life as the Best in America by 2010. 4D. Stimulate affordable homeownership, rental housing and day care facilities in South Dakota communities that evidence a need. Collaborate with our partners to secure and invest $2 billion in private and public capital to provide for affordable owner occupied housing, rental housing and daycare facilities. Expand existing partnerships, programs and services to provide homeownership and rental development opportunities and federal subsidies to the state's low-income working residents, the elderly and persons with disabilities.

28. 2010 Initiative Goal Four – Brand and Develop South Dakota s Quality of Life as the Best in America by 2010. 4D. Stimulate affordable homeownership, rental housing and day care facilities in South Dakota communities that evidence a need. Create service-enriched, permanent housing opportunities for the homeless population to reduce chronic homelessness. Support investment of private capital to provide leverage for tribal initiatives that increase homeownership on the reservations.