In a bold stride toward curtailing the affordable housing crisis, Clark County officials have given the green light for an additional $45.4 million infusion into the local housing market. This cash injection, sanctioned yesterday by the Board of County Commissioners, is earmarked for the construction and refurbishment of affordable housing units in the area. According to the Clark County press release, these funds are expected to bolster the Welcome Home, Community Housing Fund, leading to the development of 590 new units and the overhaul of 207 existing ones in Laughlin, Nevada.
The financial backing primarily caters to households earning 60% of the Area Median Income (AMI) or below—an income threshold of $57,000 per annum or less. Each of the supported developments pledges to reserve a minimum of 10% of its units for occupants making 30% AMI or under, honing in on those with the most dire economic need, with annual incomes circling $28,000. Additionally, the County's HUD HOME awards for the 2025-2026 funding year includes an additional allocation of $5.5 million, targeted at supporting the rehabilitation or construction of 603 units across five developments.
"Our commitment to affordable housing remains strong. The investments made through the County’s Welcome Home Community Housing Fund are helping to expand access to affordable housing by focusing on incentivizing the development and rehabilitation of units that will help seniors, families, and our working community members who are priced out of the housing market," Clark County Commission Chairman Tick Segerblom stated. He further expounded on the matter, emphasizing that the $45.4 million allocation has implications that reach beyond the housing market, projecting an economic impact close to $300 million in the community while simultaneously addressing the housing shortfall and ensuring safe, dependable housing for residents of varying income brackets, as per Clark County press release.
Since its launch on April 5, 2022, the Welcome Home Community Housing Fund (CHF) has aimed to address housing needs for low-income families, seniors, and working individuals. The County has invested over $230 million to help build and redevelop 5,000 affordable housing units. For more information, visit the Clark County website or watch the Welcome Home Community Housing Fund Update video.
