NAC319.854. Acquisition of land.

     1. Before the Division acquires land, the Administrator will invite sponsors to apply to purchase the land from the Division for the development of eligible housing.

     2. An applicant must submit to the Division:

     (a) A fee of $300.

     (b) A description of the proposed housing which includes, without limitation, the number and type of dwelling units, the proposed selling or rental prices, and the amenities, equipment and utilities to be included.

     (c) The applicable zoning laws and the manner in which the sponsor proposes to comply with those laws.

     (d) The estimated cost of the development, including, without limitation, estimates of:

          (1) The cost of construction;

          (2) Architectural, legal and other fees;

          (3) Financing and carrying charges;

          (4) The cost of the land; and

          (5) The sponsor’s profit.

     (e) The identity of the sponsor, builder, architect and managing agent and a detailed description of their respective qualifications and their prior participation and experience in developing and operating eligible housing. If any of them is not a natural person, the applicant must submit the names of all shareholders, investors, officers and other persons having an interest in the entity.

     (f) A report of the study which was conducted to determine the feasibility of the project.

     (g) A plot of the site, including its dimensions, unusual contours or features on the surface and the proposed locations for housing units and improvements.

     (h) Plans of the interior and basic elevational plans of the housing units containing a description of the basic materials for finishing the exterior of the building, including the siding, roof and trim.

     (Added to NAC by Housing Division, eff. 12-16-82; A by R140-01, 8-2-2002; R124-04, 10-4-2004, eff. 7-1-2009)