The authority shall distribute monies from the South Dakota housing infrastructure fund, created in § 11-15-2, as follows:
(1) Thirty percent for housing infrastructure in municipalities having a population of fifty thousand or more; and
(2) Seventy percent for housing infrastructure in all other areas of the state.
The authority may not provide both a grant and loan from the South Dakota housing infrastructure fund for the same housing infrastructure project located in a municipality having a population of fifty thousand or more.