County housing authority outlines private‑activity bond strategy to preserve and finance affordable units

A housing official briefing the board walked commissioners through a multi‑part strategy for using private activity bond (PAB) authority to support affordable‑housing preservation and light‑tech 4% LIHTC projects. The presenter explained that local PABs are not direct cash but a mechanism that local governments can allocate and carry forward to make projects more competitive for state allocations that leverage tax‑exempt bond financing. The official described the county's carried‑forward allocation as roughly 1.34 in recent filings and said that the 2026 award is increasing to about 1.4, bringing the county closer to the $2–3 million scale that consultants recommend as a useful threshold.

The briefing emphasized two near‑term use cases: resyndication or rehabilitation of existing affordable projects (for example, Riverbend and Salida Apartments) and creating an application and prioritization policy so the county can allocate PABs strategically. The presenter also described other new statutory tools — including the ability for counties to dedicate excess documentary filing fees to homelessness/housing stability work and a statutory allowance (referred to in discussion as Senate Bill 26001) enabling local use of property‑tax revenue and public asset sale proceeds for affordable‑housing initiatives. The housing official recommended carrying PABs forward for up to three years while building local capacity and preparing projects rather than assigning allocations out of county by default.