Nevada launches $500M program to increase affordable housing

LAS VEGAS (AP) — Nevada officials are launching a $500 million program to help provide affordable housing by tapping federal American Rescue Plan funding and new borrowing authority approved by state lawmakers. Gov. Steve Sisolak said the “Home Means Nevada” initiative that he and other officials announced Thursday is a beginning of an effort to put housing within financial reach of more people. Nevada’s increasing population and the pandemic have exacerbated housing shortages and rising home and rental prices in the state. Sisolak said the goal of the initiative is to lower the cost of housing, help people stay in their homes and invest in construction jobs.