Agreement between Housing and Urban Development and Interior federal agencies will clear path to construction of critically needed affordable housing projects in Southern Nevada
NORTH LAS VEGAS – RealEstateRama – Congressman Steven Horsford (NV-04) today announced a new agreement between the U.S. Departments of Housing and Urban Development and the Interior that will make it easier and more affordable for local communities in Southern Nevada to build affordable housing on federal lands.
“Today’s agreement is a huge step toward ensuring that every Nevadan can afford a home,” said Congressman Horsford. “With the availability of federal land for just $100 an acre for affordable housing projects, we are making strides toward a more equitable housing future and an economy that works for everyone. I applaud this interagency collaboration that will expand housing access and lower costs for Nevadans, and make the American dream attainable for even more of our residents.”
“We are proud of the partnership with the Department of the Interior to help families in Nevada get access to homes they can afford,” said Deputy Secretary of Housing and Urban Development Adrianne Todman. “This builds on the Biden-Harris Administration’s efforts announced last week to ensure an increase in housing supply to lower costs across the country.
“Through an all-of-government effort, the Department of the Interior is helping deliver on President Biden’s priorities to lower housing costs and expand housing supply,” said Deputy Secretary of the Interior Tommy Beaudreau. “We are proud to partner with the Department of Housing and Urban Development, the state of Nevada, and local governments to make it easier for residents to access affordable housing.”
The new agreement formalizes an updated sales process, specifying that public lands be made available for Nevada or local government entities for $100 an acre. This is far below the rate for comparable land sales – which at one point reached a high of more than $2 million per acre.
These efforts support the economic agenda led by President Biden to grow the economy from the middle out and the bottom up. Last week, the Biden-Harris Administration announced new commitments to expand affordable housing supply and renter protections, focused on the Administration’s goal of lowering housing costs for all.
The collaboration between the Departments occurs under the authority of the Southern Nevada Public Land Management Act of 1998, which allows the Department of the Interior’s Bureau of Land Management (BLM) to sell public lands within a specific boundary around Las Vegas, Nevada, for development. Although SNPLMA requires parcels to be sold for fair market value to fund education, water and public lands projects in Nevada, Section 7(b) of the Act allows state and local governments to purchase land for a nominal cost to support affordable housing.
Since its enactment, SNPLMA has generated more than $4 billion through 19 rounds, funding projects that have supported the development of parks, trails, and natural areas; public infrastructure; conservation initiatives; multi-species habitat conservation plans; acquisition of environmentally sensitive land; hazardous fuels reduction projects in the Spring Mountains, Carson Range, and at Lake Tahoe; landscape restoration projects in eastern Nevada; and environmental restoration at Lake Tahoe.