The first round of the $500 million Home Means Nevada proposal has begun.
According to a news release shared by the Nevada government, the funds were announced by Gov. Steve Sisolak (D-NV) and the Nevada Housing Division.
“Housing is an immensely complex issue and a critical priority. By bringing together partners across the Silver State on this shared goal, today, we are funding projects that will change our housing landscape for generations and ensure that home means Nevada to all of our residents,” Sisolak said in the release.
The initial $155.7 million is one-third of the initiative that is being backed by the American Rescue Plan.
According to Sisolak: “I am deeply appreciative of all our partners who brought their projects forward and I am grateful to the Nevada Housing Division for all their work to review and allocate this funding. The work is far from over, but this is a moment to recognize and celebrate all we’ve accomplished so far together.”
The Nevada Housing Division is still going through applications and the announcement of the final awards are imminent.
According to Steve Aichroth, Administrator of the Nevada Housing Division: “Thanks to this commitment by Governor Sisolak and Nevada’s legislators, the Nevada Housing Division will be able to help thousands of residents and families across the state become homeowners and find affordable housing for their families. Our initial investments will create more equitable and healthy communities statewide – whether it’s helping a low-income family buy their first home, build personal equity and give them a sense of stability as they go to work and school, or providing affordable housing for previously homeless residents and those struggling with addiction and mental illness, these funds will create generational change.”
