In Historic First, Commissioners Approve $120 million for 3,100 Homes for Families, Seniors
Sept. 6, 2022 -- The County Commissioners today approved nearly $120 million to support the development of more than 3,100 homes for low-income families and seniors across the community. These initial Welcome Home funds are the first of its kind by a local government in Nevada.
“This is an exciting and historic day for Clark County,” Commission Chairman Jim Gibson said. “Through Welcome Home, Clark County’s Community Housing Fund, we are partnering with the private sector to construct or rehab, operate and maintain more than 3,100 homes across our community for families, seniors, and others most in need of safe, modern and affordable housing. Through the county’s investment in Welcome Home, we are pursuing long-term solutions to the affordable housing challenges we face in our region to help ensure that more of our residents have a place to call home.”
In April, Welcome Home, Clark County’s Community Housing Fund was created to address the urgent need for housing for low-income residents – families, seniors, and those who are employed, but unable to find affordable housing. In a conversation with affordable home developers and residents, the topic of what is affordable housing was explored and the important role it plays in the community identified. [https://clarkcountynv.files.com/f/ca2f49c07c2894ea]
Altogether, the funding will support the construction of 2,139 new housing units, plus the rehabilitation of 967 existing units. Clark County’s website now includes an interactive map of Welcome Home funded projects with development detail. [www.ClarkCountyNV.gov/CommunityHousingFund]
Welcome Home Community Housing Fund dollars were provided to developments that needed gap financing to supplement Low-Income Housing Tax Credits and other financing sources. The funding approved today includes $12.5 million for 276 new apartments for seniors near the intersection of Decatur and Rome boulevards, $12 million to rehabilitate 237 units in the Desert Rose Apartments near North 28th Street and Charleston Boulevard, and $4 million for 176 new apartments for families at 4000 E. Desert Inn Road.
Future uses of the Welcome Home funds are expected to include homeownership opportunities for residents currently priced out of the housing market, a Community Land Trust, and annual investments in affordable rental housing. The County is also planning a future funding round for permanent supportive housing projects and is assessing opportunities for affordable housing development on County-owned land.
County officials believe there is currently a shortage of more than 85,000 homes for residents considered extremely low-income and very low-income, which means they earn less than 50 percent of area 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 residents who are working to escape homelessness and those at risk of becoming homeless.
Since the onset of the pandemic two years ago, the County has made substantial investments in short- and long-term housing solutions to prevent evictions and homelessness, and to boost the availability of affordable housing in our community. Earlier this year, the County Commission approved plans to help fund seven affordable housing developments expected to create more than 600 apartments for low-income seniors or families; and County leaders are in ongoing negotiations with a developer to build more than 100 for-sale affordable homes in the southwest valley. Additionally, the County’s CHAP program has allocated more than $300 million to provide rent and/or utility assistance to more than 60,000 local households; and more than 2,300 homeless individuals have been temporarily housed in unused hotel or motel rooms.
###
Clark County is a dynamic and innovative organization dedicated to providing top-quality service with integrity, respect and accountability. With jurisdiction over the world-famous Las Vegas Strip and covering an area the size of New Jersey, Clark is the nation’s 11th-largest county and provides extensive regional services to 2.3 million citizens and 45.6 million visitors a year (2019). Included are the nation’s 7th-busiest airport, air quality compliance, social services and the state’s largest public hospital, University Medical Center. The County also provides municipal services that are traditionally provided by cities to 1 million residents in the unincorporated area. Those include fire protection, roads and other public works, parks and recreation, and planning and development.