279A.050  Loan for rehabilitation: Duties of agency.

1.  Upon receiving an application for a loan for the rehabilitation of residential property, the agency shall:

(a) Inspect the property to determine if rehabilitation of the property is feasible; and

(b) Determine the amount of the loan that the condition of the property justifies.

2.  After inspection of the property, the agency shall interview the applicant or, if the applicant is an organization described in paragraph (b) of subsection 1 of NRS 279A.040, the representative of the organization, to determine if the applicant satisfies the criteria for eligibility for a loan and, if the applicant satisfies those criteria, the amount, terms and conditions of the loan.

3.  The agency shall recommend to the governing body the amount of the loan, if any, and the terms and conditions of the loan.

(Added to NRS by 1987, 2204; A 2005, 1304)