CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
|
Petitioner: |
Lisa Kremer, Deputy County Manager Dagny Stapleton, Community Housing Administrator |
Recommendation:
title
Approve and authorize the submission of a grant application to the State of Nevada's Nevada Attainable Housing Account for $6,871,244 in Development Opportunities Funds to support qualified homebuyer purchases of the County's Welcome Home Community Land Trust homes; and authorize the County Manager, or his designee, to execute any required documents and accept any grant funds awarded. (For possible action)
body
FISCAL IMPACT:
|
Fund #: |
2770 |
Fund Name: |
Community Office Fund |
|
Fund Center: |
1000116200 |
Funded PGM/Grant: |
N/A |
|
Amount: |
$6,871,244 (if awarded) |
|
Description: |
Application for grant funds from the Nevada Attainable Housing Account |
|
Additional Comments: |
N/A |
BACKGROUND:
The Nevada Attainable Housing Account (“NAHA”) was established by the Nevada Housing Access and Attainability Act (the “Act”) through Assembly Bill 540 in the 2025 Session. AB540 initially provided up to $183M in financing for the development of attainable housing. Pursuant to AB540's 2026 Allocation Plan, administered by the Nevada Housing Division, $30M has been allocated to increase the construction and suppy of new attainable housing. The amount of these funds available for single-family homes is $25M.
Staff proposes that the County apply for $6,871,244 in NAHA funding for the purpose of subsidizing the County's Welcome Home Community Land Trust (CLT) program. Specifically, $6,871,244 is the estimated cost to assist CLT homebuyers purchase CLT homes at prices affordable for households between 60% and 100% of the Area Median Income in Clark County.
If approved, staff will submit an application to the Nevada Housing Division in the amount of $6,871,244, and include any requested data or information.