RENO, Nev. (KOLO) – The Nevada Division of Housing announced it will dedicate $283.3 million in tax-exempt bonding to affordable housing in the state.

“By utilizing the state’s tax-exempt bonding authority to create and maintain affordable housing, the Nevada Division of Housing plays a key role in supporting Governor Lombardo’s goals for policy implementation , programs and funding sources that encourage additional development,” the Department of State said. Commercial and industrial director Kristopher Sanchez.

The NHD says so for now. nine affordable housing projects totaling 1,411 units have been approved and are underway, while three additional projects totaling 720 units are awaiting approval in the state of Nevada.

“Using the volume cap is the most effective way the state has to expand the solution to more affordable housing with below-market rents.” said Christine Hess, NHD’s chief financial officer.

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