Carson City legal - 41553

PUBLIC NOTICE 

NEVADA HOUSING DIVISION 

ACCOUNT FOR AFFORDABLE HOUSING TRUST FUNDS (AAHTF) and WELFARE SET-ASIDE FUNDING (WSAP) 

FY 2024-2025 

AAHTF/WSAP Developer, Service Provider and Local Government applications will be available for a 90-day period, beginning Monday, March 11, 2024, and will close at 5 p.m. on Monday, June 10, 2024. 

The Account for Affordable Housing Trust Fund (AAHTF) may be used to provide incentives to develop and support affordable rental housing and homeownership affordability through the acquisition, new construction, reconstruction, or moderate or substantial rehabilitation of non-luxury housing with suitable amenities, including real property acquisition, site improvement, conversion, demolition, and other expenses, including financing costs. 

The Welfare Set-Aside (WSAP) will be allocated to local governments to assist eligible persons or families with housing needs. The funds received must be used solely for activities relating to low-income housing and to provide assistance to or guarantee the payment of rent or deposits as security for rent for eligible families, including homeless persons. These funds must be used for eligible affordable housing activities for individuals and/or families who are under 60% of the area medium income (AMI). 

PURSUANT TO NEVADA ADMINISTRATIVE CODE (NAC) 319.906, ELIGBILE APPLICANTS INCLUDE LOCAL GOVERNMENTS AND 501(C)(3) OR (4) NONPROFIT ORGANIZATIONS, CITIES AND HOUSING AUTHORITIES, AND FOR-PROFIT FIRMS. FUNDING PRIORITY SHALL BE GIVEN TO PROJECTS THAT HAVE RECEIVED A LIHTC ALLOCATION OR PLAN TO APPLY. 

THE ESTIMATED AAHTF ALLOCATION OF $5,565,626.89 WILL BE ALLOCATED BETWEEN ALL AWARDED APPLICANTS. OF THAT AMOUNT, $4,927,569.63 IS ALLOCATED TO ENTITLEMENT ENTITIES, AND $638,057.26 IS AVAILABLE FOR COMPETITIVE APPLICATION. 

THE FOLLOWING AMOUNTS ARE AVAILABE FOR PARTICIPATING JURISDICTIONS BASED ON FORMULA ALLOCATION AND ARE CONTIGENT UPON ACCEPTANCE OF FUNDS. 

THE ESTIMATED WSAP ALLOCATION IS $682,169.45 TO BE ALLOCATED BETWEEN ALL AWARDED APPLICANTS. 

WSAP FUNDING APPLICATIONS ARE SUBMITTED BY LOCAL GOVERNMENT ENTITIES ONLY. 

For developers to be eligible, the development must be planning on applying for LIHTC or must already have secured LIHTC AND are DIRECTLY developing affordable housing through acquisition, new construction and/or rehabilitation. 

A proposal for a project that is not sought through a local participating jurisdiction must: Be sponsored by the local government within whose jurisdiction the project will be located, as demonstrated by a letter of support or resolution or such other evidence acceptable to the Division; If it is a proposal for construction or rehabilitation of a multi-unit residential project, demonstrate the project’s ability to provide housing at a low cost to eligible families for not less than 30 years; and where applicable, meet the Division’s standards for fiscal underwriting. 

NHD will be accepting applications for AAHTF/WSAP funding through electronic submission in the ZoomGrants system, there is no fee to apply. NHD will review the applications using the criteria established in NRS 319.520 ensuring applicants meet all requirements. Applicants will be notified of approval or denial no later than September 30, 2023. If you do not have the link for portal access once the application process is open, or if you have questions, please contact NHD by email at nhdgrants@housing.nv.gov. 

Pub Date: March 13, 2024 Ad # 41553