Apply for Grants > 18% Set-Aside (Housing)
Redevelopment Agency 18% Set-Aside is a funding source introduced through the Nevada state legislature in 1993, which required redevelopment agencies of cities with populations of 300,000 or greater to set aside not less than 15% of its tax revenue to “increase, improve and preserve the number of dwelling units in the community for low-income households." This Set-Aside was later increased to 18% of all revenue received after October 1, 1999. The state does not restrict the investment of these funds to the redevelopment area making them available to all areas of the community. The city uses the Request For Proposal process to encourage nonprofit developers and/or partnerships among nonprofit and for profit developers to increase the city’s supply of multiple family and single-family affordable housing units. The city anticipates an approximate annual amount of $700,000. The program year is July 1 through June 30, of each fiscal year.
The city has successfully used its 18% Set-Aside funds to increase both the number of affordable rental units and owner units by leveraging other available funding sources. Examples of projects completed using 18% Set-Aside include the Catholic Charities 9th Street apartments; Mi Casa En El Sol Town homes which replaced old Housing Authority projects with forty (40) units of affordable owner housing on Cedar and 30th Street. Other examples include Desert Sage, five single family homes constructed on Sage Tree Court, which is affordable infill housing within the Downtown area, and L’Octaine - 51 unit mixed use / mixed income apartments being constructed at Gass and Las Vegas Blvd.