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YIMBY of Northern Nevada: Difference between revisions
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* We use HUD's definition of workforce housing as attainable for households earning between 80% ($58,800) and 120% ($88,200) of AMI with total housing costs not exceeding 30% of gross income. <br />
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* It is important to understand public subsidies such as the Low-Income Housing Tax Credit (LIHTC) are only available to households with less than 60% of AMI($44,100).
* Public Housing is only available for households below 50% of AMI ($36,750 for a 4-person household and $25,750 for a 1-person household. A full-time single earner living alone needs to make less than $12.38 per hour to qualify. Even below these levels, the waiting list extremely long. <br />
* HUD’s Extremely Low-Income Limit for Washoe County is 34% of AMI ($25,100 for a 4-person household and $15,450 for a 1-person household. A single earner living alone needs to work less than 36 hours per week at the $8.25 minimum wage without benefits to qualify.<br />
* Among YIMBY’s goals is to overcome the widespread confusion arising from many believing financially attainable quality housing only refers to subsidized housing. <br />
* There is a shortage of financially attainable quality housing for 76% of our neighbors -- from the homeless up to households making $100,000 per year. <br />
* Although all of our neighbors can contribute to creating a regenerative culture in Greater Reno by re-balancing their time and financial resources, the better off among us have a special capability to drive the Regenesis transformation. For insight on how we can all create a regenerative culture together, please contact us at Regenesis in Reno below.</small> <br />
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