Nevada Housing Division

Key discussion topics included proposed updates to the Draft Qualified Allocation Plan (QAP), specifically changes to Section 12 concerning the maximum award for 9% LIHTC, Section 13 guidance on compliance reviews, and Section 15 fee updates including reapplication fees and elimination of Appendix B requirements. An update on the Home Means Nevada Initiative detailed a slight reduction in total awards to $498M and the status of current projects, noting that 43 applications for the Nevada Attainable Housing Program resulted in oversubscription. The Nevada Housing Coalition report highlighted challenges with the HUD FY2025 Continuum of Care NOFA withdrawal, anticipating a potential $13M funding loss impacting supportive housing, and detailed positive initiatives such as the Land Activation & Incubator Academy and the "Keys to the Missing Middle" homeownership program.

The Clark County Housing Report details a five-year plan to meet community housing needs. Key strategies involve expanding the supply of affordable housing through initiatives such as density bonuses, reduced development fees, and expedited permitting. The plan also prioritizes the preservation of existing affordable units and the promotion of diverse housing options for residents across all income levels and abilities, including middle housing and supportive housing for vulnerable populations. These efforts are designed to mitigate development impediments and address projected population growth, ensuring sufficient housing supply and reducing cost burdens.

This document details the Home Means Nevada Initiative, a strategic effort by the State of Nevada to address the affordable housing crisis using $500 million in American Rescue Plan Act State and Local Fiscal Recovery Funds. The initiative focuses on four key areas: Affordable Housing Multifamily Development, Affordable Housing Preservation, Homeownership Opportunities & Rehabilitation, and Land Acquisition for Future Affordable Development. The report outlines the application and evaluation process, provides recommendations for preliminary awards, and highlights progress toward developing new affordable units, preserving existing housing, and expanding homeownership opportunities to serve vulnerable populations and enhance housing security across the state.

This document, an Additional Reporting on Housing Progress and Plans required by NRS 278.237, outlines comprehensive housing elements for various jurisdictions within Nevada. It consolidates data on housing conditions, affordable housing inventories, projected growth, and affordable housing needs. The report identifies impediments to affordable housing development and proposes mitigation policies, analyzes land suitable for residential development, and discusses methods for constructing, converting, or rehabilitating affordable housing, culminating in a five-year plan for housing maintenance and development.

The Nevada Housing Division is holding a public hearing to discuss a proposed plan for issuing multi-unit housing revenue notes or bonds. The bonds will finance or refinance the acquisition and construction of a residential multifamily rental housing project known as The Prospector Apartments, located in Washoe County. The public is invited to provide comments on the proposed issuance of the bonds and the use of the proceeds.