Nev. Admin. Code § 319.730 - Obligation of sponsor

Every project must be designed, developed and operated in a manner consistent with all federal and state laws and regulations governing the tax-exempt status of the Division's obligations, including, but not limited to:

1. The maximum percentage of floor space, loan proceeds, development costs or project revenues which may be attributed to other than residential uses;

2. The marketing plan employed by the sponsor;

3. The percentage of living units occupied by tenants of very low, low and moderate income who receive assistance in paying rent and who are self-sufficient; and

4. The maximum amount of bond proceeds which may be paid to any sponsor.

Notes

Nev. Admin. Code § 319.730

Housing Division, Loans for Multifamily Homes Reg. § 6, eff. 7-23-80

NRS 319.140