NAC319.718. Debt service coverage.

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The projected ratio for debt service coverage for each project must be a minimum of 115:100 on projects for new construction and 125:100 on projects for acquisition and rehabilitation of existing facilities, at:

1. The completion of the construction phase; and

2. After a reasonable rent-up period following completion of the project as determined by the Division.

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

                    
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