NRS 319.440 – Maintenance after expiration: Notice; annual report; notice for subsequent ending; regulations.
1. If an owner of a project intends to maintain an affordability restriction on a project after the expiration of the affordability restriction, the owner must: (a) Provide written notice to the Division not less than 12 months before the expiration of the affordability restriction that the owner will voluntarily maintain the affordability restriction after […]
NRS 319.410 – Definitions.
As used in NRS 319.410 to 319.440, inclusive, unless the context otherwise requires: 1. “Affordability restriction” means a limit on rent that an owner may charge for occupancy of a dwelling unit in a project or a limit on the income of tenants for persons or families seeking to qualify as tenants in a project. […]
NRS 319.420 – Termination: Notice; meeting; penalties; regulations.
1. An owner who intends to terminate an affordability restriction and submit a request to the Division to obtain a qualified contract for the acquisition of a project shall provide written notice to: (a) The governing body of each county and, if applicable, city within which some or all of the project is located. (b) […]
NRS 319.430 – Ending upon expiration: Notice; meeting; penalty for failure to provide notice; regulations.
1. An owner who intends to end the affordability restriction on a project upon the expiration of the affordability restriction shall provide written notice to: (a) The governing body of each county and, if applicable, city within which some or all of the project is located. (b) The Division. Upon receipt of such notice, the […]