Legislative representative outlines Nevada's AB540 attainable-housing program and what it could mean for Fernley

Mindy Elliot of Summit Government Affairs briefed the Fernley Planning Commission on Assembly Bill 540, enacted in 2025 to expand "attainable housing" options for middle-income and workforce households. Elliot said AB540 creates a state-supported framework (an attainable housing council and funding mechanisms) that encourages public'private partnerships and requires developer matching funds.

Elliot explained eligibility and program structure: projects must meet income and affordability targets (AB540 targets households up to about 150% of area median income), developers must participate financially, and local governments can support projects through land-use decisions, expedited permitting and infrastructure coordination. She noted a statewide infrastructure reimbursement fund (discussed in the meeting as approximately $20 million statewide) that jurisdictions may seek to partially reimburse certain local infrastructure costs tied to qualifying projects.

Commissioners asked whether AB540 projects are rental or for-sale; Elliot said the program can support both multifamily workforce housing and owner-occupied single-family housing with down-payment assistance. She cautioned the statewide funding pool is limited, program participation is voluntary for developers, and impacts will be gradual because housing production timelines are long.

Elliot recommended that Fernley identify priority parcels, consider permitting streamlining for qualifying projects, and pursue infrastructure funding strategies so the city is competitive as implementation rules and funding opportunities are rolled out by the state housing division. She said the city will likely be an early review point for AB540-backed proposals and that early engagement will help the city guide project locations and conditions.

The commission asked for regular legislative updates; Elliot said she will brief the council during the session and return with further information as the program details and application periods are finalized.