Clark County commissioners are set to vote tomorrow (Tuesday, April 5) on creating a $160 million community housing fund, which would address the rising cost of buying or renting a home by supporting programs and affordable housing developments in southern Nevada.
Since the start of the pandemic two years ago, the county has made significant investments in short- and long-term housing solutions to prevent evictions and homelessness, and to increase the availability of affordable housing in our community. .
Last month, the County Commission approved plans to help fund seven affordable housing developments that would create more than 600 apartments for seniors or low-income families; and county leaders are negotiating with a developer to build more than 100 affordable homes for sale in the Southwest Valley.
If approved, the Community Housing Fund would be available to leverage partnerships and target investment opportunities to accelerate the development of permanent affordable housing for low to middle income households. Programs that could exist under the fund include a gap financing program for affordable housing development projects and a community land trust to support developments with affordable homes for sale. The county would also create an inventory of county-controlled land that could be used for community housing development.
County officials estimate there is currently a shortage of more than 85,000 homes for residents who are considered very low-income and very low-income, meaning they earn less than 50% of the area’s median income. (For example, a very low-income family of four would earn less than $37,500 a year.) The lack of affordable housing in Southern Nevada greatly affects those working to escape homelessness and those at risk of it. to become. To address these issues, the commissioners have already provided significant additional funding for homeless outreach, shelter services and affordable housing opportunities in southern Nevada.
Clark County is a dynamic and innovative organization dedicated to providing superior service with integrity, respect and accountability. With jurisdiction over the famous Las Vegas Strip and covering an area the size of New Jersey, Clark is the 11and-the largest county and provides extensive regional services to 2.3 million citizens and 45.6 million visitors per year (2019). Included are the 7 of the nationand– Busiest airport, air quality compliance, social services and the largest public hospital in the state, University Medical Center. The county also provides municipal services that are traditionally provided by cities to 1 million people in the unincorporated area. These include fire protection, roads and other public works, parks and recreation, and planning and development.