Low-Income Housing Tax Credits & Seniors in Nevada, 2018

The 2018 Nevada Qualified Allocation Plan (QAP) contains a Senior Housing category as one of its priorities when allocating 9% tax credits. Criteria for Senior Housing projects are listed in the QAP.

Senior Incentives

Nevada’s 2017 QAP contains four separate eligible project categories. The Senior Housing category is based on the housing needs for predominately individuals who are 55 years of age or older. To be considered for the category, all of the units in the project must be made available for seniors. The unit must be intended and operated for occupancy by persons 55 years of age or older, and at least 80% of the occupied units are occupied by at least one person who is 55 years of age or older. The housing facility or community must publish and adhere to policies and procedures that demonstrate they will meet this requirement. See Section 14.2.1.

The project must maintain minimum annual replacement reserves unless modified in writing by the Nevada Housing Division as follows, with the potential that USDA project reserve requirements may be different:

1) For all housing developments, whether new construction or Acquisition/Rehabilitation, that exclusively serves a Senior population: $250 per unit.

Senior Housing Age 55 and Older projects will be ranked based upon the average gross per unit square footage in the project subject to the following requirements. For new construction, studio and one-bedroom units cannot exceed 650 square feet and no other unit, regardless of the number of bedrooms, can exceed 850 square feet. Additionally, at least 10% and no greater than 40% of the total units in the project can be two-bedroom units. Acquisition and rehabilitation projects are not subject to the unit mix and unit square footage limits. However, the average square footage calculation will be capped for all senior projects at 730 square feet as calculated based on indoor conditioned space. The project with the highest average per unit square footage will receive 10 points; the second highest will receive 5 points.

Contributed By: 
National Housing Trust

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