IES SITE DEVELOPMENT UPDATES: June 25, 2026

RENO HOUSING AUTHORITY (RHA)

• The potential development of the IES site is still in the very early conceptual stages. Area Median Income (AMI) targeting is ultimately determined by final funding sources. 
• HUD establishes AMI levels annually at the county or Metropolitan Statistical Area (MSA) level. For developments financed with Low-Income Housing Tax Credits (LIHTC), rents and tenant eligibility are based on these income limits.
•  LIHTC developments can reach up to 80% AMI under income-averaging rules. If additional funding sources are secured, it may be possible to target higher income levels for some units.
• RHA does not plan to serve as the developer, owner, or operator. RHA plans to support this effort through assisting in and /or leading the competitive selection of a master developer/operator and contributing the land to the deal through a ground lease.
• Project specifics would be determined by that to-be-selected Master Developer as they work through design, entitlement, financing, and further community engagement.
• RHA wants to engage the community in the creation and development of proposals from developers when/if the site is conveyed to RHA for affordable housing.
• Any developer pursuing a project on this site that is not transit-oriented affordable housing would have to repay the FTA loan attached to the property.
• Preference could be given to potential renter applicants living in Inclive Village/Crystal Bay.

~ J.D. Klippenstein | Deputy Executive Director, Reno Housing Authority

P: 775.329.3630 ext. 212

E: jklippenstein@renoha.org

TAHOE TRANSPORTATION DISTRICT

Below are the binding affordability requirements that must be met when a Federal Transit Authority (FTA)-assisted asset (land or property) is transferred to a local governmental authority for use in a transit-oriented, affordable housing project under 49 U.S.C. § 5334(h)(1)(B). These criteria must be certified to and concurred in by FTA before the transfer:

• 40 % of the total housing units in the TOD site—whether developed by the local agency or by private/non-profit partners—must be subject to legally binding affordability restrictions for both tenants and (if for-sale) owners earning up to 60% of Area Median Income (AMI).
• Within that 40%, at least half (i.e., 20% of total units) must be further restricted to households at or below 30% AMI.  
• These income-band restrictions must be enforceable—typically via deed covenants, restrictive covenants, or regulatory agreements—throughout the entire compliance period.
• The transferred asset must remain in use for transit-oriented development, including these affordability restrictions, for no less than thirty (30) years from the date of transfer.  
• All of the above stem from FTA’s Interim Asset Disposition Guidance implementing the December 27, 2021 NDAA amendments to 49 U.S.C. § 5334(h)(1) (effective 12/27/2021).

Projects must document and certify compliance with each of these affordability tests in their request to the FTA regional office. The code can be found here:  https://www.govinfo.gov/content/pkg/USCODE-2024-title49/pdf/USCODE-2024-title49-subtitleIII-chap53-sec5334.pdf

~ Jim Marino, Executive Director, Tahoe Transportation District

P. 775-557-4901

E. jmarino@tahoetransportation.org