LAS VEGAS (KTNV) — According to a press release, Clark County commissioners are expected to vote Tuesday on a $160 million Community Housing Fund. The fund would address the rising cost of purchasing or renting a home by supporting affordable housing programs in Southern Nevada.
County officials believe there is currently a shortage of more than 85,000 homes for residents considered in the low income range.
Clark County said if the Community Housing Fund is approved, it would help partnerships and target investment opportunities to grow the development of permanent affordable housing for low to moderate income households. The County would also create an inventory of land that could be used for community housing development.
Last month, the County Commission approved plans to help fund seven affordable housing developments that would create more than 600 apartments for low-income seniors or families. County leaders are negotiating with a developer to build more than 100 affordable homes in the southwest valley.