Nevada Gov. Steve Sisolak and others launched the Home Means Nevada initiative this month, opening the program to developers.
“I am struck by the breadth of partners who have come together in support of this important initiative. I know that you all share the same understanding that I do—housing is an immensely complex issue and a critical priority,” Sisolak said. “Nevadans are depending on us, and I know that together we can help solve this crisis.”
The state is committing $500 million from the State and Local Fiscal Recovery Funds that were passed as part of the American Rescue Plan Act of 2021. The funds will be used to help create new and preserve existing affordable housing.
Sisolak was joined by several state and federal officials, including Adrianne Todman, deputy secretary of the Department of Housing and Urban Development, at the future site of Capriccio by Ovation, an affordable senior housing community by Ovation Development Corp. in Las Vegas.
The new program represents the largest single investment in affordable housing in state history and complements other state and local investments, including the Nevada Housing Division’s (NHD) recently earmarked $300.7 million, or 87%, of the state’s 2021 tax-exempt bonding authority for affordable housing
Pre-applications for the Home Means Nevada program are open through May 15.
For more information, visit www.nevadarecovers.com
