Nevada Department of Business and Industry

The meeting commenced with a roll call confirming a lack of quorum. Following public comments, the motion to approve the October 29, 2024 meeting minutes was postponed due to the absence of a quorum. Key discussions included a report on the 2025 Volume CAP Allocation, detailing the total amount of $424,770,710.00 to be split between the Director's Office and Nevada Jurisdictions. Reports were presented by the Nevada Housing Division, which requested the Director's allocation to support state housing initiatives. The Director subsequently granted this request, fully allocating his 2024 Volume CAP to the Nevada Housing Division. The Nevada Rural Housing Authority also provided a report highlighting a partnership with the Nevada Housing Division. Finally, the Nevada Housing Division presented on the Home Means Nevada program.

This document outlines the fundamental components and process of strategic planning, emphasizing future-oriented assessment, goal setting, and decision-making. It defines key elements such as Vision, Mission, Core Values, Goals, Objectives, Strategies, Key Performance Indicators, and Implementation Plans, all intended to guide organizational direction and foster innovation.

The meeting discussed amendments, additions, and deletions to NRS 116, including those related to limited-purpose associations and the fine cap for violations. The task force also discussed units' owners having certain complaints placed on the agenda. There was a presentation by the Ombudsman for Common-Interest Communities Education section. The task force also discussed the date, time, place, and agenda items for upcoming meetings.

The council meeting included reports on the 2024 Bond Volume CAP, presentations by the Nevada Housing Division and the Nevada Rural Housing Authority, and a recommendation by the Director for Volume CAP Allocation and Utilization for Specific Projects. The Nevada Housing Division discussed the demand for Multi-Family financing and the need for a competitive application process. Updates were provided on the Home Means Nevada initiative.

The workshop was held to solicit comments on the proposed amendment of regulations concerning the Nevada New Markets Jobs Act (NMJA). Public comments were made by representatives from Access Community Capital and Advantage Capital, expressing support for the program and the integration of impact qualified allocation into the regulations. The proposed regulation incorporates the concept of impact qualified investment, increases the timeframe for the Director to review and approve proposed investments, and incorporates language from a previous temporary regulation to ensure clarity for participating CDEs regarding the use of special purpose entities. A request was made for a concrete example of a qualified equity investment or a company authorized to provide investments through special purpose entities.