Fiscal Year 2024 Price for Affordable Housing Land Disposals and Incorporation of the Memorandum of Understanding for Affordable Housing

The Nevada State Office, in consultation with the Regional Solicitor, has determined that SNPLMA Section 7(b) does not require a market value appraisal be completed to dispose of public land for less than FMV for affordable housing purposes. The objective of SNPLMA Section 7(b) is to make public lands available to eligible entities when the need for affordable housing exists. Disposing of public land for prices that are based on market conditions exacerbates the affordable housing issue; therefore, the sale price should be reflective ;of the need to reduce the financial burden on state and local government entities who are working to address affordable housing shortfalls within their jurisdictions. To the extent practicable, the sale price for affordable housing disposals will be kept to the lowest level sustainable by the SNPLMA program, dependent on budgetary conditions. The price for affordable housing disposals will be evaluated annually and revised based on funding conditions.

In addition, the BLM and HUD entered into a MOU on July 13, 2023, that detailed the roles and responsibilities of both agencies while processing nominations for affordable housing disposals pursuant to SNPLMA Section 7(b). The MOU was entered into after the Nevada Guidance revision was released to the Nevada district offices by the Nevada State Office in September 2022 and contains some provisions which differ from the processes described in the revised Nevada Guidance. These differences must be incorporated by district offices, in consultation with the Nevada State Office, when processing affordable housing disposal nominations. The Nevada State Office intends to update the Nevada Guidance in the future to incorporate the ;provisions of the MOU and make other updates as needed.