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Ely transfers $265,714 in 2026 private activity bond cap to Nevada Rural Housing
Summary
Council adopted Resolution 2026-08 to transfer the city's 2026 private activity bond volume cap of $265,714.11 to the Nevada Rural Housing Authority to support single-family housing programs; NRHA said the transfer helps rural homebuyers and essential-worker programs.
The Ely City Council voted to adopt Resolution 2026-08, transferring the city's 2026 private activity bond volume cap of $265,714.11 to the Nevada Rural Housing Authority (NRHA) to support single-family housing programs. Shawn Heusser, Director of Finance for Nevada Rural Housing, told council the transfer helps NRHA's ability to finance single-family loans across rural Nevada and noted NRHA loans are "a quarter percent lower" than comparable state loans in some programs. The resolution cites NAC 348A.180 and directs the City Clerk and Mayor to take actions necessary to effectuate the transfer.
Heusser reviewed NRHA's rural impact, saying that since 2006 Ely has seen about $10.9 million in mortgages to 73 homeowners and $397,000 in down-payment assistance, and that NRHA aims to expand programs for essential workers. Councilwoman Melody Van Camp moved for approval and the motion carried unanimously.
