Nevada housing officials report $239 million spent under Home Means Nevada Initiative; projects to create roughly 2,300 units

State housing officials briefed the Senate Interim Finance Committee on a statewide affordable housing push funded by the Home Means Nevada Initiative, reporting substantial construction activity and multimillion-dollar reimbursements now flowing to projects.

Steve Acroft, administrator of the Nevada Housing Division, told the committee the initiative is supporting new construction and preservation across northern and southern Nevada, and he walked members through a list of projects including senior housing, transitional units, supportive housing and preservation work. “We’re creating 2,300 new units and preserving roughly, I think, just shy of a thousand if I’m not mistaken,” Acroft said.

Christine Hess, chief financial officer for the Housing Division, presented the financial update. She said the division’s packet contained a March 31 report showing $207,000,000 in expenditures; since that report the division had recorded another $17,000,000 in reimbursements and had additional requests under compliance review. Hess summarized that total expenditures for the Home Means Nevada Initiative had reached $239,000,000, representing nearly 48% of the program funds.

Hess emphasized the pace of reimbursements: some requests are in the division’s compliance review and some were recently submitted and not yet posted. She said projects in the packet are categorized by percent of HMNI funds spent (green for fully spent, blue for 50–99% and yellow for under 50%), and cautioned that a “0%” on the report can reflect timing for reimbursements rather than lack of construction progress.

Acroft and Hess highlighted a range of projects by type and location. Examples listed to the committee included: Sierra Flats Phase 2 (an additional 80 units in Carson City), Vintage at Redfield (about 223 senior units in Reno), Buffalo and Cactus (125 units in southwest Las Vegas), Village at the Women’s and Children’s Campus (84 transitional units in Las Vegas), Decatur and Rome senior apartments (about 276 senior units in North Las Vegas), and multiple smaller projects including permanent supportive housing, veterans’ housing and senior preservation efforts. Acroft said the program is also enabling projects to serve lower area‑median‑income strata (examples cited include units at or below 50% AMI and projects with units at 20–30% AMI).

Hess added that the initiative’s investments have a lasting effect: “these units have an affordability period of at least 30 years,” she said, noting that units remain below-market-rate through those affordability periods and thus continue serving future households.

Acroft and Hess told the committee the program had assisted 4,591 households so far, not counting additional households served by land-contribution projects. Committee members praised the results and asked questions about geographic distribution and population served. Senator Fabian Do? Yeager (identified in the transcript as Senator Yeager) recalled the original funding decision and the program’s scale; Senator Scott N. Taylor asked how locations were chosen and whether the division tracks counts by population groups (seniors, veterans, families). Acroft said location selection flowed from a competitive application process and project readiness; Hess said the division has data on population breakdowns and can provide it to the committee.

The presentation closed after committee questions; there was no formal action requested or taken on the report.