(The Center Square) – Nevada Gov. Joe Lombardo has announced a new housing development bill that would see $250 million in state funds used on housing projects aimed at essential workers.
The governor’s goal is for the $250 million to spur over $1 billion in housing projects.
The legislation, Assembly Bill 540, was discussed Wednesday afternoon by the Assembly Committee on Commerce and Labor. It was also reviewed last week during two meetings of the Assembly Committee on Government Affairs.
“It’s my hope that every Nevadan will be able to realize the dream of home ownership,” said Lombardo at a press conference Tuesday outside the recent Heirloom at Pebble seniors housing project.
To reach the $1 billion goal, many developers would be required to match state funding in their own investments into projects. These funds would develop affordable housing for anyone earning up to 150% of the area median income.
“Which will support essential workers like teachers, nurses and first responders,” said Lombardo. “The middle mile, correct? The missing middle … They deserve access to affordable and attainable homes in the very neighborhoods they serve.”
Lombardo’s proposal saw support from Laborers Union Local 872, which represents construction workers, and the Southern Nevada Home Builders Association.
“We feel confident that once this bill gets passed, and we’re going to support this bill and we’re going to be right with the governor on this, that we’ll be able to build these homes, build these buildings,” said Tommy White, secretary-treasurer of Local 872. “I like other states. But if you know anything about Las Vegas, you know we can build them [houses] better and we can build them faster, and we can build them without any problems.”
One of the major issues that have prevented housing development in Nevada has been federal land. The state has the nation’s highest percentage of federally owned land, about 80%. Lombardo said an announcement would be made May 1 about where some of this federal land could be developed into housing.
Lombardo, a Republican, has been criticized by Nevada Assembly Democrats for his veto of 2023 House bills that would have developed housing.
“Under Joe Lombardo, Nevada has the highest unemployment rate in the nation, and its ongoing housing crisis is leading to skyrocketing eviction rates and homelessness,” said Tai Sims, spokesman for the Nevada State Democratic Party, to KNTV. “Despite this, Joe Lombardo still refuses to offer a plan that holds large corporate investors accountable and limits their ability to buy up housing stock and artificially increase costs, leaving everyday Nevadans with little to no affordable options.”
Lombardo had previously identified non-Nevada real estate investments as one of his major concerns, but made a point that this bill was separate and would not address the issue.
“The tariffs are the great unknown in how we deal with the logistics of some of the construction,” said the governor in response to a question on how high federal tariffs would impact the project.
