Lori Hoover

The meeting agenda included roll call, public comment, and several items for discussion and possible action. Key action items involved approving the minutes from the December 17, 2025 meeting. The Board was also asked to approve the Administrator's Findings of Fact related to the issuance of Multi-Unit Housing Revenue Bonds for two projects: the Nellis Grove Apartments (up to $12,020,000) in Clark County, and the West Henderson Affordable Apartments (up to $38,200,000) in Henderson. Another major item was the approval of the Administrator's Findings of Fact concerning the issuance of up to $450,000,000 of Single-Family Mortgage Revenue Bonds. The agenda also included an informational item regarding the State Treasurer's quarterly investment report and discussion/action on the Treasurer's investment policies for the General Portfolio and the Local Government Investment Pool.

The meeting involved public comment periods with no input received. Key actions included the unanimous approval of the minutes from the October 17, 2025 meeting. The primary focus was on the State of Nevada Fall 2025 General Obligation Bond Issuances, totaling approximately $400.8 million, divided into three series for discussion and possible action: Series 2026A ($250 million for Capital Improvement, Historic Preservation and Open Space projects, subject to the debt limit), Series 2026B ($111.5 million for Legislative Counsel Bureau Capital Improvement projects, subject to the debt limit), and Series 2026C ($40 million for Natural Resources and Open Space projects, exempt from the debt limit). All three bond series resolutions were unanimously approved following presentations detailing the tranches and legislative authorizations for the respective funds.

The State Board of Finance meeting primarily addressed several requests from the Nevada Housing Division (NHD) concerning the issuance of Multi-Unit Housing Revenue Bonds. Key actions included approving findings of fact for the issuance of up to $35.15 million for the Serene Pines Apartments project in Clark County, up to $11.8 million for the Silver Sky Apartments project in Las Vegas, up to $16.53 million for the Washoe Mill Apartments project in Reno, and up to $31 million for the Marble Manor I Apartments project in Las Vegas (an increase of $2 million from a prior approval). Additionally, the Board approved findings of fact for the reapproval of up to $28.67 million in bonds for The Prospector Apartments in Reno due to financing structure changes, and approved up to $150 million in Single-Family Mortgage Bonds in a joint issuance with the Nevada Rural Housing Authority to support mortgage financing for qualified home buyers. The Board also reviewed and approved the Treasurer's quarterly investment report for the quarter ended June 30, 2025, and approved the existing investment policies for the General Portfolio and the Local Government Investment Pool.

The agenda includes discussion and possible action on the Board of Finance minutes from the meeting held on October 17, 2025, and the State of Nevada Fall 2025 General Obligation Bond Issuances, including resolutions for Capital Improvement, Historic Preservation and Open Space Bonds, Capital Improvement Bonds, and Natural Resources and Open Space Bonds. The agenda also involves discussion and possible action on Nevada Housing Division's requests for Multi-Unit Housing Revenue Bonds related to various apartment projects, and Single-Family Mortgage Bonds. Additionally, there is an informational item regarding the State Treasurer's quarterly investment report for the quarter ended June 30, 2025, and discussion and possible action on the Treasurer's investment policies for the General Portfolio and the Local Government Investment Pool.

The State Board of Finance convened to discuss and act on several key agenda items. These included approving minutes from a prior meeting, and multiple requests from the Nevada Housing Division (NHD) regarding the issuance of multi-unit housing revenue bonds for various affordable housing projects, such as Serene Pines Apartments, Silver Sky Apartments, Washoe Mill Apartments, Marble Manor I Apartments, and The Prospector Apartments. Discussions covered the financing structures, public and private partnerships, and the economic impact of these projects. Additionally, the board addressed the issuance of single-family mortgage bonds and reviewed the State Treasurer's quarterly investment report, along with the Treasurer's investment policies for the General Portfolio and the Local Government Investment Pool.