Local news- Press Release
Searchlight, Nevada - In Historic First Commissioners Approve $120 million for 3 100 Homes for Families Seniors 06 September 2022 ( news )
Searchlight, , state Nevada ( By Press Release office)
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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 mo......re 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 28
thStreet 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 .