Clark County Commissioners have proposed an ordinance to administer the Community Housing Fund. The $160 million fund was created to “accelerate the development of permanent affordable housing for low- to moderate-income households.”

The county announced the fund in May, shortly after the National Income Housing Coalition named Las Vegas’ the No. 1 “most severe” affordable housing shortage among those in the 50 largest U.S. cities. Nevada also tops the list of states with the worst shortage of affordable housing for extremely low-income renters (earning 0% to 30% of area median income).

The ordinance up for approval will allow the county’s Department of Administrative Services to issue grants, loans or donations from the fund to developers and operators. Applicants can apply for up to $140 million for development or rehabilitation.

“The county hopes this first release of funds will contribute to the construction of approximately 4,000 new housing units for extremely low-income to moderate-income households,” a county statement read.

As proposed, the ordinance requires new construction projects to remain affordable housing (meaning it is subsidized and matches the definition of affordable housing under state law) for at least 20 years, and for any rehabilitation projects to remain affordable housing for at least five years.

Clark County Commissioners have scheduled a public hearing for the ordinance on August 16.

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