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National Housing Trust Fund
National Housing Trust Fund
The U.S Department of Housing and Urban Development (HUD) allocates Housing Trust funds by formula annually. The State of Nevada is a grantee of the Housing Trust Fund (HTF). Nevada is required to use at least 80 percent of each annual grant for rental housing; up to 10 percent for homeownership.
HTF funds may be used for the production or preservation of affordable housing through the acquisition, new construction, reconstruction, and/or rehabilitation of non-luxury housing with suitable amenities. All HTF-assisted units will be required to have a minimum affordability period of 30 years.
Eligible activities and expenses include:
- Real property acquisition
- Site improvements and development hard costs
- Related soft costs
- Demolition
- Financing costs
- Relocation assistance
- Operating cost assistance for rental housing
- Reasonable administrative and planning costs
Eligible forms of assistance include:
- Equity investments
- Interest-bearing loans or advances
- Non-interest bearing loans or advances
- Interest subsidies
- Deferred payment loans
- Grants
- Other forms of assistance approved by HUD