Nevada launches $500 million affordable housing program

LAS VEGAS, Nev. (KOLO) -Gov. Steve Sisolak has launched the Dwelling Means Nevada program, which leverages $500 million in federal American Rescue Plan cash to create extra inexpensive housing in Nevada.

The Nevada Legislature additionally authorized spending $250 million to start out this system.

Folks could make pre-applications for the proposed properties by way of Might 15 at https://nevadarecovers.com.

Nevada’s rising inhabitants and the pandemic have exacerbated housing shortages and rising dwelling and rental costs within the state, The Related Press reported.

The initiative’s aim is to decrease housing prices, assist folks keep of their properties and put money into building jobs, Sisolak mentioned.

With the assistance of builders, this system goals to construct as much as 1,700 inexpensive housing items throughout Nevada and repair up housing for about 7,000 seniors to allow them to keep of their properties.

“That is such an unlimited downside,” Sisolak mentioned. “You’ll be able to’t resolve it in a day or week (or) in a 12 months. However we’re making big inroads and we’re going to proceed alongside that path.”

Sisolak made the announcement Thursday and was joined by Adrianne Todman, the USA Division of Housing and City Improvement deputy secretary; U.S. Reps Dina Titus, Susie Lee and Steven Horsford; Nevada State Senate Majority Chief Nicole Cannizzaro; and Nevada State Meeting Speaker Professional Tem Steve Yeager, amongst others.

“By Dwelling Means Nevada, we’re making investments that can present housing that’s extra inexpensive, accessible, and longer-lasting for practically 13,000 households – together with veterans, seniors, and folks with disabilities,” Titus mentioned in an announcement launched by the state. “I’m proud to have championed efforts to alter the method and safe an extra $1 billion within the American Rescue Plan making initiatives like Dwelling Means Nevada attainable.”

The undertaking’s identify comes from the official state tune.

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