The state announced $500 million in grants to agencies and organizations building or preserving affordable housing in the state.
In the largest investment in affordable housing in Nevada’s history, the state is devoting $500 million to affordable housing development, reports the Tahoe Daily Tribune.
The funding is part of the Home Means Nevada initiative, which funds four categories of programs: “multi-family development, multi-family preservation, land acquisition and home ownership development and rehabilitation.” The initiative aims to support the construction of 2,800 new housing units and the rehabilitation of over 1,000 multifamily units.
Among the projects awarded are a 126-unit development in Carson City, a 195-unit project in Reno, and a 306-unit building in Henderson. The Nevada Rural Housing Authority will receive $4.8 million to provide assistance to families, seniors, and people with disabilities, while the Reno Housing Authority is receiving $2.2 million for low-income households.
Read the full story: Historic investment: Nevada affordable housing grants total $500 million
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