From KLAS Las Vegas
Nevada Gov. Lombardo unveils $1 billion affordable housing plan: ‘We have to expand’
Story by David Charns
• 18h •
2 min read
Nevada Gov. Lombardo unveils $1 billion affordable housing plan: ‘We have to expand’
LAS VEGAS (KLAS) — Republican Nevada Gov. Joe Lombardo introduced legislation Monday aimed at building affordable housing across the state, he told 8 News Now.
The proposal marks the governor’s first legislative proposal this legislative session.
The Nevada Housing Access and Attainability Act would create a housing fund to assist in the development of $1 billion in affordable housing, the governor said. About $250 million would go toward rental and downpayment assistance through grants, loans and rebates.
“We are by no means in a situation where we have to restrict growth versus expand upon growth,” Lombardo said. “And for us to be successful as a community and an economy, we have to expand.”
The proposal would also expand affordable housing eligibility for Nevada households making up to 150% of the area median income, the governor’s office said.
A major part of the proposed law would remove restrictions for builders looking to create affordable housing on government-owned land. Auctions to buy the land often lead to affordable housing builders getting priced out, Lombardo said.
“It becomes cost prohibitive for affordable housing,” Lombardo said about that process. “If you’re going to build custom homes or high-end retail, yeah, it makes sense, but when we’re addressing the affordable, attainable housing issues, it’s got to be able to pencil out to get builders in the space,” Lombardo said, adding his staff worked on the proposal with Nevada’s federal delegation and the White House.
The proposal was not entered into the legislative record on Monday afternoon and did not yet have a bill number.
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