Storey County transfers 2025 private-activity bond cap to Nevada Rural Housing for first-time buyer aid

Storey County commissioners on July 15 approved a resolution to transfer the county's 2025 private-activity bond volume cap to the Nevada Rural Housing Authority to support first-time homebuyer down-payment and related assistance.

Sean Huser, director of finance for Nevada Rural Housing, told the commission the authority has long used locally transferred bond cap to expand mortgage access in rural Nevada. "For more than 50 years, Nevada Rural Housing has been assisting rural Nevadans in finding affordable housing opportunities," Huser said, citing past outcomes, including loans and tax savings he attributed to the program.

The measure, Resolution 2025-786, directs Storey County to convey its unused 2025 bond cap so Nevada Rural Housing can issue mortgage assistance and down-payment support to eligible buyers. County Administration Officer Lisa Massell introduced the item and handed the presentation to Huser. Commissioners asked no substantive questions, and Commissioner Mitchell moved approval; the motion passed unanimously.

Commissioners and Nevada Rural Housing officials said the transferred cap has previously supported local buyers; Huser said nine Storey County households used similar assistance last year. The resolution does not appropriate county funds; it transfers a federal tax allocation authority that the authority uses to support affordable mortgage products.

The action places Storey County among other rural jurisdictions that provide local volume cap to statewide or regional housing programs. There was no public comment recorded during consideration of the resolution.