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Nevada Revised Statutes Title 22. Cooperative Agreements by Public Agencies; Regional Transportation Commissions; Planning and Zoning; Development and Redevelopment § 278.01902. “Tier one affordable housing” defined

Current as of January 01, 2025 | Updated by Findlaw Staff

1. “Tier one affordable housing” means housing for a household:

(a) Which has a total monthly gross income that is equal to not more than 60 percent of the median monthly gross household income for the county in which the housing is located; and

(b) Which costs not more than 30 percent of the total monthly gross household income of a household whose income equals 60 percent of the median monthly gross household income for the county in which the housing is located, including the cost of utilities.

2. For purposes of this section, median gross household income must be determined based upon the estimates of the United States Department of Housing and Urban Development of the most current median gross family income for the county in which the housing is located.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 22. Cooperative Agreements by Public Agencies; Regional Transportation Commissions; Planning and Zoning; Development and Redevelopment § 278.01902. “Tier one affordable housing” defined - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-22-cooperative-agreements-by-public-agencies-regional-transportation-commissions-planning-and-zoning-development-and-redevelopment/nv-rev-st-278-01902/

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