July 15, 2020

Cortez Masto Applauds Awards of $1.5 Million for Affordable Housing in Nevada

Las Vegas, Nev. – U.S. Senator Catherine Cortez Masto (D-Nev.) announced that the Federal Home Loan Bank of San Francisco awarded $1,570,000 to four affordable housing projects in Nevada, which will go to build or renovate 196 apartments. The funds, which Senator Cortez Masto advocated for, are given out through the Bank’s Affordable Housing Program and are awarded through a competitive application process to Bank members working with housing developers or community organizations to create rental or homeownership opportunities for lower-income households.     

“I’m glad to see these funds go to organizations working to create housing for seniors, veterans, families, and others in need of a safe and stable place to call home. Nevada already had one of the worst housing crises in the nation before the coronavirus pandemic, and the need is even more acute now. I’ll keep fighting in the Senate for legislation that helps Nevadans afford this most basic of human needs.”

BACKGROUND:

Senator Cortez Masto has been a strong advocate for affordable housing during her time in the Senate. She has recently cosponsored legislation to give assistance to renters and landlords during the coronavirus pandemic and to provide counseling services for renters and homeowners struggling to remain in their housing during the economic downturn.

The awards from the Federal Home Loan Bank of San Francisco will be distributed as follows:

  • $590,000 to Nevada Hand to fund senior and veteran housing in Las Vegas;
  • $420,000 to the Empowerment Center for permanent supportive housing in Reno for those in recovery from substance use disorders;
  • $300,000 to the Nevada Rural Housing Authority for rehabilitation of two housing projects for families and seniors in Ely;
  • $260,000 to the Northern Nevada Community Housing Resource Board to fund renovations to studio apartments in Reno for homeless individuals.

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