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USDA Rural Development and Sisseton Wahpeton Oyate Sign a Memorandum of Understanding

Name
Tammi Schone
City
Pierre
Release Date

Recently, JC Crawford, Sisseton Wahpeton Oyate’s (SWO) Executive Director for Sisseton Wahpeton Housing Authority joined Bruce Jones, USDA Rural Development Acting State Director, in the signing of a Memorandum of Understanding (MOU) that will create homeownership opportunities for tribal members on the Lake Traverse Indian Reservation (also known as Sisseton Wahpeton Oyate).

“With the strong support and commitment toward the housing needs of SWO Members, Tribal Council and other Leaders the SWO are assuring the success of home ownership on the Lake Traverse Reservation. The MOU will assure that the much needed resources will have a direct impact to its members; along with providing the assurance of investors to develop a partnership that will provide down payment assistance funding and mortgage loans to SWO members.” said JC Crawford, Executive Director of the Sisseton Wahpeton Housing Authority.

“Seven families have been deemed eligible to participate in this process,” said Bruce Jones, South Dakota Rural Development Acting State Director.  “USDA Rural Development looks forward to working with SWO to help low- and very-low income rural families build a better future through homeownership.  Homeownership provides a strong foundation that helps people build household wealth, start a business, fund education through home equity, and climb ladders of economic opportunity.”

USDA Rural Development will process applications up to the point of Certificate of Eligibility for the 502 Direct Loan Program and then refer the family to Sisseton-Wahpeton Oyate to determine if the family is eligible to participate in the SWO Risk Pool. Section 502 direct loans are primarily used to help low- and very low-income individuals or households purchase homes in rural areas.  Funds can be used to acquire, build, repair, renovate, or relocate a home. The Risk Pool will be monitored through the SWO who will provide foreclosure avoidance services to identified participants who are in the Risk Pool Program and SWO will purchase the position held by USDA Rural Development on individual families who have agreed and are approved to participate in the SWO Risk Pool for the lower of the payoff amount or the Net Recovery Value.

USDA Rural Development and Sisseton-Wahpeton Housing Authority are partners and members of the South Dakota Native Homeownership Coalition (Coalition).  The Coalition is a partnership of Federal and State agencies, Housing Development Authorities and non-profit entities that share the common goal of improving Native homeownership in South Dakota.  The MOU will be a guide to other Tribal Coalition members who are working toward providing their Members the opportunity for home ownership within their Reservations. 

USDA Rural Development in South Dakota has offices in Aberdeen, Huron, Mitchell, Pierre, Rapid City, Sioux Falls, Watertown, and Yankton.  For more information, visit the USDA Rural Development website at http://www.rd.usda.gov/sd.

The Administration’s plan for rural America has brought about historic investment and resulted in stronger rural communities.  These investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities.  USDA’s investment in rural communities support the rural way of life that stands as the backbone of our American values.