NAC459.99926. Application for loan: Submission; form and contents.

     1. A person may submit an application for a loan from the Fund at any time. The application must be submitted on a form prescribed by the Division.

     2. An application for a loan from the Fund must include:

     (a) An accurate description of the property;

     (b) Documentation of a source of loan repayment;

     (c) An agreement that the applicant or, if the applicant does not own the property, the owner of the property will, if required pursuant to NAC 459.99928, grant a security interest in the property to the Division to secure the financing necessary for the completion of the corrective action;

     (d) Documentation that the planned future development of the property is consistent with the current and reasonably foreseeable future land uses in the area;

     (e) An accounting of the total debt against the property;

     (f) An appraisal of the estimated value of the property after all necessary corrective actions are complete;

     (g) A copy of a phase I and phase II environmental assessment of the site which is performed in a manner consistent with the requirements established by the Division or ASTM International; and

     (h) A detailed credit history of the applicant.

     3. In addition to the original application, the applicant must provide two copies of the application for review by the Division.

     (Added to NAC by Environmental Comm’n by R084-04, eff. 10-8-2004)