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Commissioners cutting fees to boost affordable housing developments

Vegas housing
Posted at 3:03 PM, Mar 16, 2021
and last updated 2021-03-26 02:20:42-04

LAS VEGAS (KTNV) — In an effort to encourage the construction of more affordable housing here, County Commissioners voted today to reduce building permit fees and other charges for developments targeting lower-income households.

“Every community needs housing for families of all income levels, but unfortunately here in Southern Nevada we have a shortage of housing for low-income households,” Commission Chair Marilyn Kirkpatrick said. “Reducing these fees will make affordable housing projects more attractive to developers.”

“Having an adequate supply of affordable housing is important for the economic health of our community,” Commissioner Justin Jones said. “These changes will incentivize developers to build projects that will serve lower-income families.”

Commissioners voted 7-0 today to direct County staff to reduce fees for affordable housing projects by 50 % or 75% depending upon the income level the development would target. Some of fee reductions may require changes to County ordinances, which would need to be approved separately by commissioners.

The National Low Income Housing Coalition (NLIHC) reports that there is a shortage of 80,453 affordable housing units for very low to extremely low-income households in Southern Nevada. For a family of four, a low-income household makes less than $60,000 a year, a very low-income household makes less than $37,500 annually. Under the reduced fees supported by the Commission, affordable housing projects that have a deed restricted sale price or rent for lower-income families are eligible for a development fee reduction.