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Ely approves transfer of private activity bond cap to Nevada Rural Housing Authority and prioritizes wastewater project for CDBG
Summary
The Council unanimously authorized transferring Ely's 2025 private activity bond cap to the Nevada Rural Housing Authority to support affordable mortgages, and staff asked the Council to prioritize the Wastewater Treatment Plant Upgrade as the top CDBG project, citing a $4.8 million congressional appropriation.
Ely City Council members voted on July 24 to transfer the City's unused 2025 private activity bond volume cap to the Nevada Rural Housing Authority (NRHA) and to prioritize the Wastewater Treatment Plant Upgrade in the upcoming CDBG application process.
Mishon Hurst, deputy executive director of Nevada Rural Housing, explained that the private activity bond cap enables affordable financing for single-family homeownership programs and that unused local caps typically revert to the State for pooling. Hurst said NRHA has used past allocations to secure affordable mortgages in Ely and White Pine County.
"If it is not earmarked for an allowable use, it does revert back to the State," Hurst said. The Council unanimously approved Resolution 2025-05 to transfer the 2025 cap.
City Clerk Jennifer Lee briefed the Council on CDBG deadlines and said the City is eligible to apply for funding for the Wastewater Treatment Plant Upgrade after revised Census LMI figures; she noted a $4.8 million congressional appropriation toward the project and said EPA notified the City the federal assistance award is expected by Sept. 30. City Engineer B.J. Almberg added that CDBG can serve as required local match funding for the earmark.
Councilmembers asked staff to prioritize the waste-water upgrade as the top CDBG project in November's application cycle and to continue coordination with state and federal partners.
