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Story County transfers 2026 private activity bond cap to Nevada Rural Housing to back down‑payment aid
Summary
The board approved transferring its 2026 private‑activity bond volume cap to Nevada Rural Housing Authority to expand first‑time homebuyer down‑payment assistance, opening a new 'Rural Rocks 20k' program to Story County households earning under $175,000.
On July 21, the Story County Board of County Commissioners unanimously approved Resolution 2026‑825 to transfer the county’s 2026 private activity bond volume cap to the Nevada Rural Housing Authority (NRHA).
Sean Houser, director of finance for Nevada Rural Housing, told commissioners that the transfer allows NRHA to use pooled bond cap to support low‑cost mortgage products and down‑payment assistance in rural counties. He said NRHA has helped 236 Story County homebuyers over the past 20 years, supporting about $33.5 million in mortgages and roughly $842,000 in down‑payment assistance. The new Rural Rocks 20k program — recently broadened to all Story County residents with household incomes under $175,000 — can provide up to $20,000 in down‑payment aid or a combination of down‑payment and a permanent rate buy‑down.
Houser emphasized that private activity bond cap is not cash for the county but an allocation that NRHA aggregates and uses to support lending programs; participating counties benefit through lower interest rates and expanded access for rural homebuyers. The board moved, seconded, and approved the resolution without objection.
Why it matters: The transfer aims to expand homeownership opportunities in a county with high housing demand and limited local bond cap. The change enables NRHA to combine resources and offer larger, targeted down‑payment assistance to eligible residents.
