Commissioners vote to carry forward $1.417 million private activity bond capacity for future housing projects

Administrator Helvke told commissioners that Chaffee County's 2026 private-activity bond (PAB) cap allotment is $1,417,297 and that the IRS allows the county to roll or "stack" that amount forward for up to three consecutive years to build a more material lending capacity for future local projects.

"The bonding authority authorized for the county is $1,417,297," Helvke said, noting this is not cash but authority to issue tax-exempt bonds for eligible projects, typically used in partnership with the Colorado Housing and Finance Authority for housing development. The board voted to carry the volume cap forward and directed staff to file required notifications with the Department of Local Affairs by Sept. 15.

Commissioners discussed the advantages of banking the capacity for a significant future project versus assigning it now; they emphasized applying the authority to projects that provide strong local benefit. Staff noted counsel must complete an annual certification as part of the carry-forward process.