05/09/2024 | Press release | Distributed by Public on 05/09/2024 11:32
Washington, D.C. - U.S. Senators Catherine Cortez Masto (D-Nev.), member of the Senate Banking, Housing, and Urban Affairs Committee, and Jacky Rosen (D-Nev.) applauded the Department of Housing and Urban Development's (HUD) announcement that more than $43 million in federal funding to expand access to affordable housing is coming to Nevada. Senators Cortez Masto and Rosen have consistently supported funding for these vital housing programs that help ensure Nevadans can afford a safe place to call home.
"Nevada continues to experience an affordable housing crisis, and this critical funding I helped deliver will build more housing and provide support for Nevadans across the Silver State," said Senator Cortez Masto. "I'll continue to work with the Department of Housing and Urban Development and my colleagues to ensure all Nevadans have a quality, affordable place to call home."
"Nevada is facing a housing crisis, and I'm doing everything I can to help lower costs and provide relief to hardworking families," said Senator Rosen. "I'm proud to have helped secure this funding to increase affordable housing options throughout our state. I'll keep working at the federal level to also lower costs so owning or renting a home can be more affordable."
This critical funding will provide flexible resources to build homes, support renters and homeowners, provide stability to people experiencing homelessness, create jobs, and fund economic development projects across Nevada. The grants are provided through the following HUD programs:
Senators Cortez Masto and Rosen have been leaders in the fight to lower housing costs and keep Nevadans in their homes. Last year, Cortez Masto secured $4.8 million from the Federal Home Loan Bank of San Francisco to support Nevada affordable housing organizations, and cut through red tape to make it easier to build affordable housing across the state. She is also leading legislation to significantly increase the amount of federal funds available for the HOME Investment Partnership Program to build more affordable housing across the country. Senator Rosen recently introduced the Housing Oversight and Mitigating Exploitation (HOME) Act to crack down on housing price gouging by corporate investors who are driving up home prices by buying up housing stock. Last year, Rosen led her colleagues in a letter to Senate appropriators requesting that they fund the U.S. Department of Housing and Urban Development's Veterans Affairs and Supportive Housing program.
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