STATE OF NEVADA



STATE OF NEVADA

DEPARTMENT OF BUSINESS AND INDUSTRY

OFFICE OF THE DIRECTOR

MEETING NOTICE AND AGENDA

Special Advisory Committee on Private Activity Bonds

[Created under NAC Chapter 348A]

Name of Organization: Department of Business & Industry

Date and Time of Meeting: December 19, 2016 at 10:00 AM

Place of Meeting:

Live Meeting: Video Conference To:

Business & Industry, Director’s Office Business & Industry, Director’s Office 555 E. Washington Ave. Suite 4900 1830 College Parkway, Suite 100

Las Vegas, NV. 89101 Carson City, NV. 89706

Members of the Committee

Bruce H. Breslow, Director-Business & Industry

Marcel Schaerer, Deputy Director-Business & Industry

Bob Potts, Research Director-Governor’s Office of Economic Development

CJ Manthe, Administrator-Housing Division-Business & Industry

Jeffrey Fontaine, Executive Director-Nevada Association of Counties

Wes Henderson, Executive Director-Nevada League of Cities

AGENDA

The Special Committee to Provide Advice on Private Activity Bonds will meet in an open meeting to discuss and provide recommendations to the Director of the Department of Business and Industry regarding the following items:

STACKED AGENDA: Below is an agenda of all items scheduled to be considered. Unless otherwise stated, items may be taken out of the order presented on the agenda by the discretion of the Director. Items may also be combined for consideration or pulled or removed from the agenda at any time. Persons who have business before the committee are solely responsible to see that they are present when their business is conducted. Public comments may be limited to three minutes per person at the discretion of the Director. The Committee may only take action on those items denoted as potential action items.

NOTICE: Reasonable efforts will be made to assist and accommodate physically handicapped persons desiring to attend the meeting. Please call Carrie Foley at (702) 486-2754, so arrangements may be conveniently made. Supporting documents for this meeting may be obtained at 555 E. Washington Ave. Suite 4900 Las Vegas, NV. 89101, or by contacting Carrie Foley at (702) 486-2754 or via email at cfoley@business..

MEMBERS OF THE PUBLIC ARE ENCOURAGED TO ADDRESS THE COMMITTEE REGARDING ANY MATTER. HOWEVER, NO ACTION MAY BE TAKEN ON A MATTER. NO COMMENTS MAY BE MADE REGARDING A MATTER THAT IS OR MAY BE THE SUBJECT OF A FORMAL COMPLAINT BEFORE THE COMMITTEE. COMMENT MAY NOT BE LIMITED BASED ON VIEWPOINT. PERSONS WHO DESIRE TO SUBMIT WRITTEN TESTIMONY SHOULD SUBMIT TEN (10) COPIES TO THE COMMITTEE COORDINATOR. PUBLIC COMMENT MAY BE LIMITED TO THREE MINUTES PER PERSON AT THE DISCRETION OF THE DIRECTOR.

1. Call to order by Chair, Director Bruce H. Breslow

2. Public Comments – may limit public comment to 3 minutes per speaker

3. Approval of the April 27, 2016 meeting minutes (for possible action)

4. Report on the allocation of 2016 State Volume CAP to local governments based upon pro rata share of State’s population (for possible action)

5. Report on usage, reversions, and requests for 2016 State Volume CAP by the Director, local governments and agencies receiving Volume CAP. Discussion by the Special Advisory Committee to the Director (for possible action)

a) Carson City: Per Resolution No. 2016-R-8 Carson City would like to transfer their allocation of $2,836,448.81 to the Nevada Rural Housing Authority for their Single Family Programs.

b) Churchill County: Per Resolution No. 10-2016 Churchill County would like to transfer their allocation of $854,819.36 to the Nevada Rural Housing Authority for their Single Family Programs.

c) City of Boulder City: Per Resolution No. 6493 the City of Boulder City would like to transfer their allocation of $826,440.36 to the Nevada Rural Housing Authority for their Single Family Programs.

d) City of Caliente: Per Resolution No. 16-04 the City of Caliente would like to transfer their allocation of $54,824.25 to the Nevada Rural Housing Authority for their Single Family Programs.

e) City of Carlin: Per Resolution No. 2016-05 The City of Carlin would like to transfer their allocation of $142,522.16 to the Nevada Rural Housing Authority for their Single Family Programs.

f) City of Elko: Per Resolution No. 19-16 the City of Elko would like to transfer their allocation of $1,082,583.04 to the Nevada Rural Housing Authority for their Single Family Programs.

g) City of Ely: Per Resolution No. 2016-06 The City of Ely would like to transfer their allocation of $211,980.15 to the Nevada Rural Housing Authority for their Single Family Programs.

h) City of Fallon: Per Resolution No. 16-12 the City of Fallon would like to transfer their allocation of $458,349.58 to the Nevada Rural Housing Authority for their Single Family Programs.

i) City of Fernley: Per Resolution No. 16-007 the City of Fernley would like to transfer their allocation of $989,658.80 to the Nevada Rural Housing Authority for their Single Family Programs.

j) City of Henderson: Per Resolution No. 155 the City of Henderson would like to transfer their allocation of $15,042,855.60 as follows: $6,275,000.00 to the Director of the Department of Business & Industry to be used for the Arroyo Pines Project or another eligible project located in the City, and $8,767,855.60 to the Nevada Rural Housing Authority for their Single Family Programs.

k) City of Las Vegas: Per Resolution No. R-32-2016 the City of Las Vegas would like to transfer their allocation of $32,452,143.44 to the Director of the Department of Business & Industry with a request the Director transfer all of the volume cap to the Nevada Housing Division for the purpose of providing assistance to their home ownership programs for owner occupied housing in Las Vegas, through bonds issued to provide mortgage loans for and mortgage credit certificates issued to provide mortgage assistance for homes to be owned by residents of the City of Las Vegas.

l) City of Lovelock: Per Resolution No. 2016-02: the City of Lovelock would like to transfer their allocation of $98,934.52 to the Nevada Rural Housing Authority for their Single Family Programs.

m) City of Mesquite: Per Resolution No. 897 the City of Mesquite would like to transfer their allocation of $996,191.72 to the Nevada Rural Housing Authority for their Single Family Programs.

n) City of North Las Vegas: Per Resolution No. 2553 the City of North Las Vegas would like to transfer their allocation of $12,221,093.35 to the Nevada Housing Division to be used as follows: $5,829,160.00 for the Madison Palms Senior Apartments located in North Las Vegas and $5,250,000.00 for the Rose Gardens Senior Apartments located in North Las Vegas.

o) City of Reno: Per Resolution No. 8153 the City of Reno would like to transfer a portion of their allocation of $12,470,819.34 (the resolution says their allocation is $12,479,840.70 but it is actually $12,470,819.34) in the amount of $11,250,000.00 to the Department of Business & Industry for the Vintage at Virginia Apartments.

p) City of Reno: Per Resolution No. 8239 the City of Reno would like to transfer a portion of their allocation of $12,470,819.34 in the amount of $1,220,819.00 to the Nevada Housing Division for their Single Family Programs.

q) City of Sparks: Per Resolution No. 3301 the City of Sparks would like to transfer their allocation of $4,890,856.59 to the Nevada Rural Housing Authority for their Single Family Programs.

r) City of Wells: Per Resolution No. 16-03 the City of Wells would like to transfer their allocation of $71,653.05 to the Nevada Rural Housing Authority for their Single Family Programs.

s) City of West Wendover: Per Resolution No. 2016-02 the City of West Wendover would like to transfer their allocation of $234,035.28 to the Nevada Rural Housing Authority for their Single Family Programs.

t) City of Winnemucca: Per Resolution No. 2016-04 the City of Winnemucca would like to transfer their allocation of $407,758.66 to the Nevada Rural Housing Authority for their Single Family Programs.

u) City of Yerington: Per Resolution No. 16-01 the City of Yerington would like to transfer their allocation $166,772.35 to the Nevada Rural Housing Authority for their Single Family Programs.

v) Clark County: Per Resolution No. 7-19-16-2 Clark County would like to transfer their allocation of $49,092,062.51 as follows: $20,000,000.00 to the Housing Division for Multifamily Rental Housing Development in Clark County, $24,000,000.00 to the Housing Division for Single Family Homeowner Programs, $5,092,062.51 to the Nevada Rural Housing Authority for Single Family Homeowner Programs.

w) Douglas County: Per Resolution No. 2016R-046 Douglas County would like to transfer their allocation of $2,520,295.54 to the Nevada Rural Housing Authority for their Single Family Programs.

x) Elko County: Per Resolution No. 04-2016 Elko County would like to transfer their allocation of $1,267,961.14 to the Nevada Rural Housing Authority for their Single Family Programs.

y) Esmeralda County: Per Resolution No. 16-R-04 Esmeralda County would like to transfer their allocation of $48,239.07 to the Nevada Rural Housing Authority for their Single Family Programs.

z) Eureka County: There was no Resolution No. assigned to their transfer so I used the date of the letter which is 5-20-2016. Per Resolution No. 5-20-2016 Eureka County would like to transfer their allocation of $97,314.36 to the Nevada Rural Housing Authority for their Single Family Programs.

aa) Humboldt County: Per Resolution No. 06-07-16 Humboldt County would like to transfer their allocation of $483,697.31 to the Nevada Rural Housing Authority for their Single Family Programs.

ab) Lander County: Per Resolution No. 2016-11 Lander County would like to transfer their allocation of $326,489.15 to the Nevada Rural Housing Authority for their Single Family Programs.

ac) Lincoln County: Per Resolution No. 2016-10 Lincoln County would like to transfer their allocation of $211,091.67 to the Nevada Rural Housing Authority for their Single Family Programs.

ad) Lyon County: Per Resolution No. 16-07 Lyon County would like to transfer their allocation of $1,628,003.36 to the Nevada Rural Housing Authority for their Single Family Programs.

ae) Mineral County: Per Resolution No. 16-006 Mineral County would like to transfer their allocation of $237,223.35 to the Nevada Rural Housing Authority for their Single Family Programs.

af) Nye County: Per Resolution No. 2016-60 Nye County would like to transfer their allocation of $2,406,727.28 to the Nevada Rural Housing Authority for their Single Family Programs.

ag) Pershing County: Per Resolution No. 16-0504 Pershing County would like to transfer their allocation of $253,843.09 to the Nevada Rural Housing Authority for their Single Family Programs.

ah) Storey County: Per Resolution No. 16-438 Storey County would like to transfer their allocation of $208,217.19 to the Nevada Rural Housing Authority for their Single Family Programs.

ai) White Pine County: Per Resolution No. 2016-16 White Pine County would like to transfer their allocation of $328,213.84 to the Nevada Rural Housing Authority for their Single Family Programs.

aj) Total amount of transfers: $17,525,000.00 transferred to the Department of Business & Industry, Director’s Office, $89,894,055.79 transferred to the Nevada Housing Division, $38,201,103.14 transferred to the Nevada Rural Housing Authority (see attached report)

ak) Letter dated August 11, 2016 from Diane Arvizo with the Nevada Rural Housing Authority to Bruce Breslow, Director of the Department of Business & Industry requesting a transfer of 2016 volume cap in the amount of $24,215,901.80 based on 2016 resolutions in which money was transferred to the Nevada Rural Housing Authority (see attached detailing cities/counties included in the request for $24,215,901.80).

a. On August 11, 2016 the Director’s Office transferred $24,215,901.80 to the Nevada Rural Housing Authority through Transfer Certificate No. 16-03 and 16-03 149e.

al) Letter dated September 12, 2016 from Diane Arvizo with the Nevada Rural Housing Authority to Bruce Breslow, Director of the Department of Business & Industry requesting a transfer of 2016 volume cap in the amount of $13,985,201.34 based on 2016 resolutions from the City of Henderson, City of Sparks and Lander County transferring their allocations to the Nevada Rural Housing Authority for their Single Family Programs.

a. On September 13, 2016 the Director’s Office transferred $13,985,201.34 to the Nevada Rural Housing Authority through Transfer Certificate No. 16-05 and 16-05 149e.

am) Letter dated December 5, 2016 from Gary Longaker with the Nevada Rural Housing Authority to Bruce Breslow, Director of the Department of Business & Industry requesting a transfer of 2016 volume cap as indicated in the letter along with additional information.

an) Letter dated December 7, 2016 from Michael Holliday with the Housing Division to Bruce Breslow, Director of the Department of Business & Industry requesting a transfer of 2016 volume cap as indicated in the letter along with additional information.

6. Report on Volume CAP carry forward amounts (for possible action)

7. Suggestion of agenda items for next meeting

8. Public comments

9. Committee comments

10. Adjournment

Copies of the above Meeting Notice and Agenda are posted at the following locations:

Department of Business and Industry Department of Business and Industry

555 E. Washington Ave. Ste. 4900 1830 College Parkway, Ste. 100

Las Vegas, NV. 89101 Carson City, NV. 89706

Nevada Housing Division Nevada Housing Division

1830 College Pkwy. Ste. 200 7220 Bermuda Rd, Suite B

Carson City, NV. 89706 Las Vegas, NV. 89119

Nevada Legislative Building Nevada State Library & Archives

401 South Carson Street 100 N. Stewart Street.

Carson City, NV. 89710 Carson City, NV. 89701

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BRIAN SANDOVAL

Governor

BRUCE H. BRESLOW

Director

TERRY J. REYNOLDS

Deputy Director

MARCEL F. SCHAERER

Deputy Director

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