Rep. Titus Statement on Biden Administration Affordable Housing Initiatives

Rep. Titus Statement on Biden Administration Affordable Housing Initiatives

Congresswoman Dina Titus today released the following statement on the Biden Administration's announcement of initiatives to create more affordable housing in Southern Nevada.

"This is a critical step toward addressing the affordable housing crisis in Southern Nevada. Many in Nevada have been priced out of the housing market. Today's announcement of $50 million in grant funding for the Southern Nevada Regional Housing Authority and the City of Las Vegas to renovate 235 existing units and build 400 new units will increase the supply of existing housing for my constituents.

We must use all the resources and policy levers necessary to increase the amount of housing for families. That is why I am also a co-sponsor of legislation to require hedge funds to divest of thousands of homes they have purchased in Southern Nevada. I am hopeful that by increasing the number of new homes built on public lands and by increasing the supply of existing homes we can give more Southern Nevadans the chance to live in a home they can afford. Having a roof over one's head should be a right, not a privilege."

Background:

In addition to today's funding announcement, the Bureau of Land Management (BLM) announced new actions to create thousands of affordable housing units on BLM land in Nevada. BLM is opening a public comment period on a sale of 20 acres of public land to Clark County for below market value at just $100 per acre-the largest-ever sale for affordable housing under the Southern Nevada Public Lands Management Act (SNPLMA) program, which the county estimates will enable the development of nearly 150 affordable homes for households making less than 80% of area median income.

BLM will also soon announce the proposed below-market sale of an additional 18 acres to the City of Henderson, which the city estimates will provide nearly 300 affordable housing units for rent. These actions are the first affordable housing sales conducted under a memorandum of understanding between BLM and the Department of Housing and Urban Development (HUD) that improves the sale process and lowers the cost for affordable housing parcels. BLM will work with local governments as they come forward with housing-related requests for the roughly 26,000 acres in Las Vegas Valley that remain under BLM control and are eligible for disposition under SNPLMA.

Congresswoman Titus is a co-sponsor of the End Hedge Fund Control of American Homes Act, which requires hedge funds to divest of homes over a period of 10 years and imposes an excise tax on homes they purchase, with proceeds going toward grants for down payment assistance to taxpayers purchasing a single-family residence. Congresswoman Titus also is co-sponsoring legislation to require the Department of Housing and Urban Development to provide more rental housing vouchers to fast-growing states such as Nevada.