1. The governing bodies of two or more municipalities whose boundaries are contiguous may enter into an interlocal or cooperative agreement for the ordering of an undertaking whose boundaries encompass all or part of each municipality and the creation of the tax increment area and the tax increment account pertaining thereto. A tax increment area […]
1. Whenever the governing body of a municipality is of the opinion that the interests of the municipality and the public require an undertaking, the governing body, by resolution, shall direct the engineer to prepare: (a) Preliminary plans and a preliminary estimate of the cost of the undertaking, including, without limitation, all estimated financing costs […]
1. In the resolution making the provisional order, the governing body shall set a time and place for a meeting to consider the ordering of the undertaking and hear all complaints, protests, objections and other relevant comments concerning the undertaking that are made in accordance with subsection 2. The time for the meeting must be […]
1. The governing body shall cause to be created a list of the names and addresses of all: (a) Persons who reside within a proposed tax increment area and who own taxable property within a proposed tax increment area; and (b) If the undertaking is a natural resources project or a rail project for which […]
1. The posting of any notice required in this chapter must be verified by the affidavit or certificate of the engineer, clerk, deputy or other person posting the notice. Each verification of posting must be filed with the clerk and must be retained in the records of the municipality at least until the bonds and […]
1. Any notice required to be published pursuant to this chapter must be published in a newspaper of general circulation within the area of the tax increment area about which the notice relates at least once a week for 3 consecutive weeks. The first publication must be at least 15 days before the designated time […]
1. At the time and place of the hearing, the governing body shall cause to be read and consider all written complaints, protests, objections and other relevant comments made in accordance with NRS 278C.170 and hear all oral complaints, protests, objections and other relevant comments made pursuant to that section. 2. After considering all written […]
1. If, after considering all written and oral complaints, protests, objections and other relevant comments that were properly submitted and after considering any other relevant material put forth, the governing body determines that the undertaking is in the public interest and defines that public interest, the governing body shall determine whether to proceed with the […]
1. The governing body may amend an ordinance adopted pursuant to NRS 278C.220 by adopting a supplemental ordinance, introduced and adopted in the same manner as a regular ordinance, to: (a) Modify the undertaking by specifying new projects or removing or modifying projects specified in the original ordinance; (b) Add areas to or remove areas […]
The provisions of NRS 338.013 to 338.090, inclusive, apply to any construction work to be performed under any contract or other agreement related to an undertaking ordered by a governing body pursuant to this chapter. The governing body, the developer, any contractor who is awarded the contract or enters into the agreement to perform the […]
1. After the effective date of the ordinance adopted pursuant to NRS 278C.220: (a) Any taxes levied upon taxable property in the tax increment area each year by or for the benefit of the State, the municipality and any public body must be divided as follows: (1) That portion of the taxes that would be […]
The allowed revenue from taxes ad valorem determined pursuant to NRS 354.59811 does not apply to tax increment areas created pursuant to this chapter. (Added to NRS by 2005, 1765)
The Federal Government, the State, any public body or any person filing a written complaint, protest or objection in the manner and within the time provided in NRS 278C.170, may, within 30 days after the governing body has finally passed on the complaint, protest or objection by resolution pursuant to NRS 278C.210 or by ordinance […]
1. To defray in whole or in part the cost of any undertaking, a municipality may issue the following securities: (a) Notes; (b) Warrants; (c) Interim debentures; (d) Bonds; (e) Temporary bonds; and (f) Upon the approval of the Interim Finance Committee pursuant to NRS 278C.157 for a purpose related to natural resources, as defined […]
Any securities issued by a municipality for a tax increment area pursuant to this chapter must mature and be fully paid, including any interest thereon, before the expiration of the tax increment area. (Added to NRS by 2005, 1766)
A tax increment area must expire not more than 30 years after the date on which the ordinance which creates the area becomes effective. (Added to NRS by 2005, 1766)
1. Notwithstanding any provision of this chapter to the contrary, if the governing body submits to the Office of Economic Development an economic development financing proposal described in NRS 360.989 and the Office approves the proposal and an economic development financing agreement pursuant to NRS 360.990, any tax increment area which is or may be […]
1. This chapter, without reference to other statutes of this State, except as otherwise expressly provided in this chapter, constitutes full authority for the exercise of powers granted in this chapter. 2. No other law with regard to the exercise of any power granted in this chapter that provides for an election, requires an approval, […]
