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Council approves transfer of HMNI-funded lot at 2026 I Street to Reno Housing Authority for 12 affordable units
Summary
Council adopted a development agreement and related assignments to convey a 0.207-acre HMNI-funded parcel at 2026 I Street to the Reno Housing Authority to build at least 12 studio and one-bedroom affordable units serving households at or below 50% AMI, with a 50-year affordability period and oversight tied to the Nevada Housing Division.
The council approved a package of four related items to transfer a parcel the city purchased with Home Means Nevada Initiative (HMNI) funds to the Reno Housing Authority (RHA) for construction of affordable housing. Housing specialist Amy Jones said the city acquired the 0.207-acre property at 2026 I Street using $2.8 million of HMNI funding specifically for land acquisition and that the HMNI grant requires the land be used for affordable housing serving households at 60% AMI and below, with a minimum…
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