NAC319.498. Grants to qualified organizations.

     1. The Division may award grants of money to qualified organizations to establish employer-assisted housing programs.

     2. If a qualified organization that receives a grant fails to maintain a net worth of $1,000,000, excluding the value of the grant, the organization shall immediately return to the Division any remaining amount of the grant that has not been committed for expenditure.

     3. Before a qualified organization that receives a grant may contract or award a subgrant for services of more than $2,000 to be paid from the proceeds of the grant, the contract or subgrant must be approved by the Administrator.

     4. A qualified organization that receives a grant is subject to audit by the Division with respect to the grant at any reasonable time to ensure its compliance with all applicable laws and regulations of this State.

     (Added to NAC by Housing Div. by R192-08, eff. 12-17-2008)