When state lawmakers allocated a quarter of a billion dollars of federal American Rescue Plan (ARP) funds last spring to develop and preserve affordable housing, they were aiming to alleviate Nevada’s increasing housing costs which at that time were skyrocketing to record levels.
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The Nevada Housing Coalition estimates the state has a deficit of more than 105,000 affordable units and is short roughly 84,000 units for extremely low-income renters, or those earning 30 percent or less of the area median income.
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