NAC319.7115. Prerequisites for project to receive volume cap from Division.

Latest version.

     1. For a project to receive volume cap from the Division:

     (a) The findings of the Administrator relating to the project must be approved by the State Board of Finance pursuant to chapter 319 of NRS; and

     (b) The project must have the support of a local government as described in subsection 2.

     2. Except as otherwise provided in this subsection, the Division shall not provide financing to a project unless one or more local governments will provide a minimum of 50 percent of the total volume cap for the project. The Division may finance a project that has less than 50 percent of the total volume cap from a local government if the project is in a rural community.

(Added to NAC by Housing Div. by R093-00, eff. 11-20-2000)

                    
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