NAC319.670. “Project” defined.

Latest version.

“Project” means a housing facility for residential use which consists of two or more dwelling units for occupancy by eligible tenants on a rental basis. The term includes property to be leased, purchased or developed for sites for multifamily housing and upon which the Division takes a security interest and records a regulatory agreement, whether the Division issues bonds, a mortgage loan or a letter of credit for the lease, purchase or development of the multifamily housing.

[Housing Division, Loans for Multifamily Homes Reg. § 2 subsec. 5, eff. 7-23-80]—(NAC A 12-16-82; R093-00, 11-20-2000)

                    
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