Nevada Housing Access and Attainability Act
The Nevada Housing Access and Attainability Act represents a bold, innovative, and comprehensive approach to addressing our state's housing challenges. It benefits Nevadans statewide in multiple ways:
Through strategic funding, the Act lowers the cost of housing, expands attainable housing options and eligibility for Nevada residents, and eliminates barriers to development.
The Act expands the State's impact by revising the definition of affordable housing, which now serves our most vulnerable neighbors: those with incomes below 30% of the area median income and essential workers below 150% of the area median income.
The Act makes it easier for qualified contractors to get licensed in rural communities with housing shortages. This fosters development, gets shovels in the ground, and lowers housing costs for rural Nevada families.
The Act represents a culmination of many hours of work and meetings of a Housing Task Force convened by Governor Lombardo and composed of stakeholders, Nevada Housing Division leadership, and other industry experts.
Nevada Attainable Housing Account
The Nevada Attainable Housing Account (NAHA) was established through the Nevada Housing Access and Attainability Act. The Act appropriated $133 million dollars to support the expansion of affordable housing opportunities to low- and moderate-income households, including funding for three critical areas:
Development Opportunities
Homeownership Opportunities
Local Government Matching Fund
Nevada Attainable Housing Infrastructure Fund
An additional $50 million in bonds will be issued to fund the Attainable Housing Infrastructure Account. This will help lower home prices and homebuyer assessments for attainable housing built in Special Improvement Districts and Special Assessment Districts.
Questions:
NHDdevelopment@housing.nv.gov
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