Nevada Low Income Housing Trust Fund
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The National Low Income Housing Coalition is providing this data as a public service. NLIHC will continue to update the database. The accuracy of the data is based on information provided by the programs' administrators and user submissions.
The Nevada Low income Housing Trust Fund was established in 1989 and is administered by the Nevada Housing Division. Funds are allocated by formula to local governments to expand and improve the supply of rental housing through new construction and rehabilitation of multifamily projects. Trust Fund money may also be used to provide down payment assistance and homeowner rehabilitation of single family residences, and to provide rental assistance to families who are in danger of becoming homeless. If the funds will be used for rental assistance the tenants will pay no more than 30% of their monthly adjusted income and may be chosen from waiting lists established by Public Housing Authorities or other approved agencies serving low income families. Rental assistance contracts cannot exceed a period of 48 months. The Trust Fund was expected to go create 727 units with its FY13 funding. A little more than $800,000 of the funding was expected to go towards tenant based rental assistance.
Funding for the Trust Fund is supported with a real property transfer tax of 10 cents for each $500 of value. In FY12, the Trust Fund received an allocation of $4 million. In FY13, the allocation amount was $4 million.in FY14, the allocation was $3 million and in FY15 it was $3.5 million.
PLEASE NOTE: Some of the information on housing trust funds included in this database was provided by the Center for Community Change (Housing Trust Fund Project). Go to www.housingtrustfundproject.org for more information on State and Local Housing Trust Funds.