The Washoe County Commission is moving forward on a plan to create a fund that will help bolster affordable housing in a region where rent and home prices are increasing because of market pressures from growth. If successful, the fund could provide developers with a tool to offset the costs of developing affordable housing units for low-income households.
At a meeting in late February, the commissioners unanimously approved a draft ordinance that would create an Affordable Housing Trust Fund for unincorporated Washoe County, Reno and Sparks. The five-member board is expected to vote and approve a final ordinance later this month. The potential funding tool, which has also cropped up in municipalities from Sacramento to San Diego, is the result of a long push from a coalition of affordable housing advocacy groups.