NAC319.7195. Subordinate financing.

Latest version.

A project may receive subordinate financing that is not bond or tax-credit financed, for up to 98 percent of the appraised value of the project if the subordinate financing is serviced by not more than 75 percent of projected available cash flow.

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

                    
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