Welcome Home Community Housing Fund Grant

Note: This application process is for the development and rehabilitation of affordable housing; it is not to assist with housing individuals and families.
This opportunity will be available only to developments already awarded CHF or HOME funds, with the goal of reducing planned 60% AMI units to 50% AMI units or below.
Clark County is making a BLM-owned site available for the development of affordable rental housing.
Funding Goals and Scope
The goal of this funding round is to reduce the projected number of 60% AMI units (and 65% AMI units in limited instances) in the development pipeline to 50% AMI, and below, to meet the very low- and extremely low-income housing demands of the Las Vegas valley housing market. The COUNTY will determine eligibility for funding by population served and targeted income level(s), number of units impacted, financial capacity, the APPLICANTS ability to creatively maximize use of the additional CHF funds in combination with other funding sources, project readiness, and project feasibility. All project commitments outlined in the original application must remain, such as sustainability features, project amenities, unit amenities, overall design of the project, etc. All developments will be for affordable housing for households below 80% of AMI; any units above 80% will not be funded by CHF. Projects with market rate units will be required to show how those units will be funded on the FFS without using CHF funds. Though the COUNTY will provide a scoring preference for projects with higher numbers of units at or below 30% and 50% of AMI, the maximum amount of below 30% AMI, units allowed in any one project is 50% of the total. Projects that include between 10% and 50% of their units at 30% AMI or below may request additional CHF funds in order to reduce long-term debt and support higher operating costs; however, construction costs per unit must remain competitive. Projects with over 20% of the units at 30% AMI must have additional sources of long-term operating income to ensure that the project can sustain such deep rental subsidies.