Federal Formula Grant Award Summary

The Nevada Department of Business and Industry, Housing Division, received a $3.01 million formula grant award from the U.S. Department of Housing and Urban Development (HUD), Assistant Secretary for Community Planning and Development, under the Home Investment Partnerships Program (CFDA 14.239). The award, obligated on September 19, 2025, with a completion date of September 30, 2034, supports the expansion of affordable housing supply for low- and very low-income households across Nevada.

Under this formula allocation, the Housing Division implements a range of affordable housing activities including rehabilitation of owner-occupied housing, homebuyer assistance programs, acquisition and construction of rental housing, and tenant-based rental assistance. As a state-level participating jurisdiction, the division administers these federally funded housing initiatives through partnerships with local housing authorities, community development organizations, cities, and counties, targeting vulnerable populations including elderly residents, persons with disabilities, families with children, and low-income households. All HOME-funded projects comply with federal income targeting requirements and maintain affordability periods ranging from five to twenty years, with grantee activities subject to HUD compliance oversight under 24 CFR Part 91 regulations.