NAC319.005. Definitions.

As used in this chapter, unless the context otherwise requires:

     1. “Administrator” means the Administrator of the Division.

     2. “Affordable housing” means housing designed for use by a person or family that qualifies for assistance pursuant to a project sponsored by the Division or for use by a person or family whose income does not exceed 180 percent of the median income for a person or family residing in the same county, as defined by the United States Department of Housing and Urban Development.

     3. “Development corporation” means a corporation that develops, builds or facilitates the building of or manages structures for residential housing or that processes loans for residential properties.

     4. “Division” means the Housing Division of the Department of Business and Industry.

     5. “Governmental agency” has the meaning ascribed to it in NRS 319.070.

     6. “Lending institution” has the meaning ascribed to it in NRS 319.090.

     7. “Mortgage” has the meaning ascribed to it in NRS 319.100.

     8. “Mortgage loan” has the meaning ascribed to it in NRS 319.110.

     9. “Person with special needs” means a person identified by the Division as needing assistance to obtain affordable or specialty housing.

     10. “Real property” has the meaning ascribed to it in NRS 319.120.

     11. “Residential housing” has the meaning ascribed to it in NRS 319.130.

     12. “Specialty housing” means housing that is designated for a specific segment of the population by the Division.

     (Added to NAC by Housing Div., eff. 4-13-88; A by R140-01, 8-2-2002; R124-04, 10-4-2004, eff. 7-1-2009)