LAS VEGAS, Nev. (FOX5) – Nevada State Treasurer Zach Conine on Thursday announced the state has approved more than $2 billion in tax-exempt bonds the support the development of affordable housing projects.
The state issues these types of bonds to hlep cities and counties provide quality housing options to its underserved communities. Projects completed with this type of financing typically remain accessibly priced for decades.
“Over the last five years, we have remained committed to using every tool in State government to make housing more affordable for residents,” said Treasurer Zach Conine. “We still have more work to do in combatting Nevada’s housing crisis, and we’re not going to stop until we make rents more affordable and make homeownership a real possibility for every family.”
Since 2019, the State Board of Finance has approved more than $2 billion on bonds to support the construction of nearly 9,500 affordable housing units statewide.
Still, a 2022 report from the National Low Income Housing Coalition found need remained high statewide.
It showed Nevada needing nearly 84,000 affordable rental homes, and that 86% of low-income tenants struggle to pay their rent.
Copyright 2023 KVVU. All rights reserved.
