(HAILEY) The Idaho Housing and Finance Association's Board of Commissioners met in Hailey at the Balmoral apartment complex last Thursday, July 26, to discuss local housing and finance issues. Two key items were the approval of a 26-percent increase in the sales price limit for home loans in Blaine County and the authorization of a nonprofit facilities bond issue for the Wood River Community YMCA.

"The increase in sales price limits for homes in this area from $150,000 to $189,000 increases the homeownership opportunities for many residents," said Gerald Hunter, IHFA president and executive director. "This change will provide some help, but sales prices are so high in Blaine County that the adjustment may have a minor impact. However, for some borrowers, every little bit helps. The $189,000 limit is a federal maximum that we cannot exceed."

Hunter said IHFA also increased income limits to $71,000 for a one- or two-person household and to $81,000 for a three-person household or more.

A $16 million 501(c)(3) Nonprofit Facilities Bond also was approved for the Wood River Community YMCA.

Dave Wilson, National Association of Home Builders president and a resident of the Wood River Valley participated in the meeting, as did Wally Huffman, Sun Valley Company General Manager, Blaine-Ketchum Housing Authority Executive Director Michael David, and Ketchum Mayor Ed Simon. "All invited speakers spoke to the IHFA board in relationship to pertinent housing issues for Blaine County," said Mayor Simon.

Randy Hynote, Lehman Brothers' managing director, discussed current economic and market conditions, and Hunter discussed the regional and local impact of the association's activities.

The meeting concluded with a tour of the IHFA-financed Balmoral Apartment complex.

The Idaho Housing and Finance Association, a financial services and housing organization, provides funding for affordable housing in Idaho communities where they are most needed and when it is economically feasible. IHFA uses no state funds or state employees to support its operations. For more information, visit our Web site at www.ihfa.org.