NRS: CHAPTER 279 - REDEVELOPMENT OF COMMUNITIES

[Rev. 6/29/2024 3:30:12 PM--2023]

CHAPTER 279 - REDEVELOPMENT OF COMMUNITIES

GENERAL PROVISIONS

NRS 279.382 Short title.

NRS 279.384 Definitions.

NRS 279.385 “Affordable housing” defined.

NRS 279.386 “Agency” defined.

NRS 279.388 “Blighted area” defined.

NRS 279.390 “Bonds” defined.

NRS 279.392 “Community” defined.

NRS 279.3925 “Developer” defined.

NRS 279.393 “Eligible railroad” defined.

NRS 279.394 “Federal Government” defined.

NRS 279.396 “Legislative body” defined.

NRS 279.398 “Obligee” defined.

NRS 279.400 “Planning commission” defined.

NRS 279.404 “Public body” defined.

NRS 279.405 “Public educational activities and programs” defined.

NRS 279.406 “Real property” defined.

NRS 279.408 “Redevelopment” defined.

NRS 279.410 “Redevelopment area” defined.

NRS 279.412 “Redevelopment project” defined.

NRS 279.413 “Southern Nevada Enterprise Community” defined.

NRS 279.414 “State” defined.

NRS 279.416 Declaration of state policy: Necessity of redevelopment of blighted areas.

NRS 279.418 Declaration of state policy: Growing menace of blighted areas to public health, safety and welfare; benefits to inhabitants resulting from remedying conditions.

NRS 279.420 Declaration of state policy: Inability of individual landowners to rehabilitate property; remedy by public acquisition.

NRS 279.422 Declaration of state policy: Temporary government-owned wartime housing projects as blighted areas.

NRS 279.424 Declaration of state policy: Redevelopment of blighted areas by eminent domain; public use; necessity.

NRS 279.425 Declaration of state policy: Adequate supply of decent, safe and sanitary affordable housing necessary to accomplish purposes of Community Redevelopment Law.

AGENCIES

NRS 279.426 Agency for redevelopment: Creation.

NRS 279.428 Resolution of legislative body as prerequisite to functioning of agency.

NRS 279.430 Authority of agency conclusively presumed from resolution.

NRS 279.432 Powers of public bodies in aid of local redevelopment.

NRS 279.434 Exemption of agency and property from execution, process or lien; exceptions.

NRS 279.436 Suspension of agency’s authority.

NRS 279.438 Termination of redevelopment plan adopted before January 1, 1991, and amendments to plan; extension of plan.

NRS 279.439 Termination of redevelopment plan adopted on or after January 1, 1991, and amendments to plan.

NRS 279.440 Appointment of members; exceptions.

NRS 279.442 Restriction on appointment of members.

NRS 279.443 Alternative method of appointment of members; staggering of terms of resident electors; successors; vacancies.

NRS 279.444 Action of legislative body as alternative to appointment of members; community’s exercise of powers; delegation of powers and functions.

NRS 279.446 Terms of office of members; vacancies.

NRS 279.448 Chair: Designation; election; term of office.

NRS 279.450 Compensation and expenses of members.

NRS 279.452 Removal of member: Grounds; procedure.

NRS 279.454 Interest in property included in redevelopment area forbidden; disclosure of interest; exception.

NRS 279.456 Acquisition of property by agency from member or officer by eminent domain.

NRS 279.458 Agency’s power vested in members.

NRS 279.460 Agency’s governmental functions; powers.

NRS 279.462 Powers of agency.

NRS 279.464 Services and facilities available to agency.

NRS 279.466 Personnel: Selection; employment; compensation; limitations.

NRS 279.468 Preparation of plans for blighted areas; dissemination of redevelopment information; acceptance and expenditure of money; creation of residential plan; budget.

NRS 279.470 Acquisition, management, disposal and encumbrance of interests in real and personal property; insurance.

NRS 279.471 Requirements for agency to exercise power of eminent domain; resolutions; limited judicial review.

NRS 279.4712 Prerequisites to agency exercising power of eminent domain; requirements for written offer; appraisal performed on behalf of owner of property.

NRS 279.4714 Prerequisite to request that agency exercise power of eminent domain.

NRS 279.472 Leases or sales: Public hearing.

NRS 279.474 Development of building sites.

NRS 279.476 Rehousing bureau.

NRS 279.478 Assistance for relocation.

NRS 279.480 Investments.

NRS 279.482 Imposition of conditions on lessees and purchasers; employment plan required in proposal for redevelopment project; contents of plan.

NRS 279.484 Breach of covenants running with the land.

NRS 279.486 Purchase and construction of certain buildings, facilities and improvements; certain agencies to prepare report related to purchase and construction; contribution by and reimbursement of community or other governmental entity.

NRS 279.488 Continuation of existing buildings on land; justification for acquisition by agency.

NRS 279.490 Financial assistance from governmental and private sources.

NRS 279.492 Eminent domain: Existing public use; consent of public body.

NRS 279.494 Territorial jurisdiction: Counties; cities.

NRS 279.496 Property owned in redevelopment project: Payment of money in lieu of taxes.

NRS 279.498 Work exceeding $10,000 requires competitive bidding.

NRS 279.500 Applicability of provisions governing payment of prevailing wage for public works projects.

NRS 279.508 Joint exercise of powers by two or more agencies: Authority; action at joint hearings and meetings or by designated agency.

NRS 279.512 Joint exercise of powers by two or more agencies: Designated agency’s cooperation with planning commissions in formulating redevelopment plans.

NRS 279.514 Redevelopment of area within another community’s territory.

PLANS

NRS 279.516 Prerequisites of community for redevelopment: Planning commission; master plan.

NRS 279.518 Designation of areas for evaluation as redevelopment areas.

NRS 279.519 Areas acceptable for designation as redevelopment areas; percentage of redevelopment area required to be improved land; requirements for boundaries of certain redevelopment areas; inclusion of taxable property in redevelopment area.

NRS 279.520 Contents of resolution designating area for evaluation.

NRS 279.522 Requests for evaluation of particular area.

NRS 279.524 Selection of redevelopment area; preliminary plan.

NRS 279.526 Preliminary plan: Sufficiency.

NRS 279.528 Submission of preliminary plan to agency; analysis.

NRS 279.530 Cooperation of agency and planning commission.

NRS 279.564 Preparation or adoption of redevelopment plan by agency; hearings and negotiations.

NRS 279.566 Property owners’ participation and assistance in redevelopment; agency’s rules; provisions if nonparticipation.

NRS 279.568 Conformance to master or general plan for community.

NRS 279.570 Report by planning commission; vote of legislative body.

NRS 279.572 Contents of redevelopment plan: General requirements.

NRS 279.574 Contents of redevelopment plan: Leases and sales of real property by agency.

NRS 279.576 Contents of redevelopment plan: Acquisition of property; bonds.

NRS 279.578 Submission of redevelopment plan to legislative body; report required.

NRS 279.580 Matters to be considered by legislative body; public hearing; notice.

NRS 279.583 Proposals by legislative body to exclude certain land from proposed redevelopment area.

NRS 279.586 Adoption of redevelopment plan by ordinance: Determinations; contents of ordinance.

NRS 279.589 Effect of decision of legislative body.

NRS 279.598 Safeguards required that redevelopment will be carried out; controls.

NRS 279.602 Copy of ordinance transmitted to agency.

NRS 279.6025 Submission of initial and annual reports for each redevelopment area in redevelopment plan.

NRS 279.603 Recording of statement regarding redevelopment; transmission of certain information if taxes are to be divided.

NRS 279.6035 Applicants for building permits must be advised of redevelopment area.

NRS 279.604 Approval of contracts by legislative body.

NRS 279.608 Material deviation from or amendment of redevelopment plan: Recommendation to legislative body; hearing; notice; report and recommendations by planning commission; action by legislative body.

NRS 279.609 Limitations on actions to question validity of redevelopment plan or amendment.

PROJECTS IN CITIES WHOSE POPULATION IS 500,000 OR MORE

NRS 279.6092 Applicability.

NRS 279.6093 Employment plan by developer in proposal for redevelopment project; contents; duty to submit plan to Nevada Commission on Minority Affairs and Southern Nevada Enterprise Community Board; plan is public record.

NRS 279.6094 Employment plan required for redevelopment project built as public work.

NRS 279.6096 Partial withholding of incentive by agency.

NRS 279.6097 Progress report on employment plan by developer of redevelopment project; contents; duty of agency to submit report to Nevada Commission on Minority Affairs and Southern Nevada Enterprise Community Board; report is public record.

NRS 279.6098 Report by developer of information relating to redevelopment project; penalty for failure to submit report.

NRS 279.6099 Appeal of refusal to pay amount of incentive withheld by agency.

NRS 279.60993 Progress report by business that relocates into redevelopment area; contents; duty to submit report to Nevada Commission on Minority Affairs and Southern Nevada Enterprise Community Board; report is public record.

FINANCIAL PROVISIONS

NRS 279.610 Appropriations.

NRS 279.612 Annual budget.

NRS 279.614 Agency’s administrative fund.

NRS 279.616 Money appropriated to defray administrative expenses; agency not department of community; status of agency’s employees.

NRS 279.618 Agency’s reports to legislative body.

NRS 279.619 Limitation on issuing securities or incurring indebtedness.

NRS 279.620 Revolving fund: Establishment; sources.

NRS 279.622 Issuance and sale of general obligation bonds: Purposes; amount authorized.

NRS 279.624 Agreement with respect to amount of general obligation bonds where plan contains provision authorized by NRS 279.676.

NRS 279.625 Special election may be held only if emergency exists.

NRS 279.626 Issuance of general obligation bonds: Manner; limitations; exceeding limitation.

NRS 279.628 Expenditures from revolving fund.

NRS 279.630 Sale or lease of property acquired from revolving fund: Minimum amount; redeposit of proceeds; approval of sale or lease.

NRS 279.632 Abolition of revolving fund; transfer of money.

NRS 279.634 Bonds: Issuance for corporate or refunding purposes.

NRS 279.636 Types of bonds which agency may issue; additional security for bonds.

NRS 279.638 Liability on bonds; limitation of indebtedness.

NRS 279.640 Authorization of bonds; sale.

NRS 279.642 Validity of bonds: Termination of office.

NRS 279.644 Negotiability of bonds.

NRS 279.646 Validity of bonds: Presumptions.

NRS 279.648 Issuance of bonds: Pledge of revenues; encumbrances of property.

NRS 279.650 Issuance of bonds: Limitations on further indebtedness and transactions.

NRS 279.652 Issuance of bonds: Use of proceeds; lost or destroyed bonds; extension of time for payment; redemption.

NRS 279.654 Issuance of bonds: Rentals and revenues; special funds.

NRS 279.656 Issuance of bonds: Abrogation or amendment of contracts with bondholders.

NRS 279.658 Issuance of bonds: Use and maintenance of property; insurance.

NRS 279.660 Issuance of bonds: Effects of breach of covenants; events of default; waiver.

NRS 279.662 Power of agency to provide for powers and duties of bondholders’ trustee or bondholders.

NRS 279.664 Power of agency to make additional covenants; additional powers.

NRS 279.666 Rights of agency’s obligee.

NRS 279.668 Rights of agency’s obligee upon default.

NRS 279.670 Bonds, interest and income exempted from taxes; exceptions.

NRS 279.672 Bonds of agency as legal investments.

NRS 279.674 “Taxes” defined.

NRS 279.676 Allocation, division and disposition of money from taxes; limitation on revenue; repayment of bond or other indebtedness; recalculation of total assessed value of taxable property in redevelopment area in county whose population is 700,000 or more; set aside of revenue for public educational activities, programs and facilities.

NRS 279.678 Assessment and taxation of leased redeveloped property; provision in lease for lessee to pay taxes.

NRS 279.680 Pledging portion of taxes for payment of principal and interest on loans, advances or indebtedness.

NRS 279.683 Faith of State pledged not to impair securities.

NRS 279.685 Certain cities to set aside revenue for affordable housing and public educational activities, programs and facilities; limitations; uses.

NRS 279.6855 Certain cities to set aside revenue for public educational activities, programs and facilities; limitations.

NRS 279.687 Limitations on use of money set aside for public educational activities, programs and facilities.

LOANS TO SMALL BUSINESSES

NRS 279.700 “Small business” defined.

NRS 279.710 Revolving loan account: Creation; investment; credit of interest and income; deposit of money; payment of claims; acceptance of gifts and grants.

NRS 279.720 Revolving loan account: Authorized uses of money in account; limitation.

NRS 279.730 Application for loan; requirements of contract for loan; regulations.

_________

GENERAL PROVISIONS

NRS 279.382 Short title. The provisions contained in this chapter may be cited as the Community Redevelopment Law.

(Added to NRS by 1959, 648; A 1987, 1683; 1999, 3612; 2005, 2214; 2011, 3747; 2013, 798)

NRS 279.384 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 279.385 to 279.414, inclusive, have the meanings ascribed to them in those sections.

(Added to NRS by 1959, 648; A 1985, 2068; 1993, 1329; 1999, 1090; 2003, 1286; 2005, 2214; 2011, 3747; 2013, 798, 1573; 2017, 660; 2019, 1411)

NRS 279.385 “Affordable housing” defined. “Affordable housing” has the meaning ascribed to it in NRS 278.0105.

(Added to NRS by 2019, 1410)

NRS 279.386 “Agency” defined. “Agency” means a redevelopment agency created pursuant to this chapter or a legislative body which has elected to exercise the powers granted to an agency pursuant to this chapter.

(Added to NRS by 1959, 648; A 2013, 798)

NRS 279.388 “Blighted area” defined.

1. Except as otherwise provided in subsection 2, “blighted area” means an area which is characterized by at least four of the following factors:

(a) The existence of buildings and structures, used or intended to be used for residential, commercial, industrial or other purposes, or any combination thereof, which are unfit or unsafe for those purposes and are conducive to ill health, transmission of disease, infant mortality, juvenile delinquency or crime because of one or more of the following factors:

(1) Defective design and character of physical construction.

(2) Faulty arrangement of the interior and spacing of buildings.

(3) Inadequate provision for ventilation, light, sanitation, open spaces and recreational facilities.

(4) Age, obsolescence, deterioration, dilapidation, mixed character or shifting of uses.

(b) An economic dislocation, deterioration or disuse.

(c) The subdividing and sale of lots of irregular form and shape and inadequate size for proper usefulness and development.

(d) The laying out of lots in disregard of the contours and other physical characteristics of the ground and surrounding conditions.

(e) The existence of inadequate streets, open spaces and utilities.

(f) The existence of lots or other areas which may be submerged.

(g) Prevalence of depreciated values, impaired investments and social and economic maladjustment to such an extent that the capacity to pay taxes is substantially reduced and tax receipts are inadequate for the cost of public services rendered.

(h) A growing or total lack of proper utilization of some parts of the area, resulting in a stagnant and unproductive condition of land which is potentially useful and valuable for contributing to the public health, safety and welfare.

(i) A loss of population and a reduction of proper use of some parts of the area, resulting in its further deterioration and added costs to the taxpayer for the creation of new public facilities and services elsewhere.

(j) The environmental contamination of buildings or property.

(k) The existence of an abandoned mine.

2. If the subject of the redevelopment is an eligible railroad or facilities related to an eligible railroad, “blighted area” means an area which is characterized by at least four of the factors set forth in subsection 1 or characterized by one or more of the following factors:

(a) The existence of railroad facilities, used or intended to be used, for commercial, industrial or other purposes, or any combination thereof, which are unfit or unsafe for those purposes because of age, obsolescence, deterioration or dilapidation.

(b) A growing or total lack of proper utilization of the railroad facilities resulting in a stagnant and unproductive condition of land which is potentially useful and valuable for contributing to the public health, safety and welfare.

(Added to NRS by 1959, 648; A 1985, 2068; 2005, 2214)

NRS 279.390 “Bonds” defined. “Bonds” means any bonds, notes, interim certificates, debentures or other obligations issued by an agency pursuant to this chapter.

(Added to NRS by 1959, 649)

NRS 279.392 “Community” defined. “Community” means a city or county.

(Added to NRS by 1959, 649)

NRS 279.3925 “Developer” defined. “Developer” means a person or entity that proposes to construct a redevelopment project which will receive financial assistance from an agency.

(Added to NRS by 2013, 1572)

NRS 279.393 “Eligible railroad” defined. “Eligible railroad” means a railroad in existence on or before July 1, 2005:

1. That is located in a county whose population is less than 100,000; and

2. Of which no less than one-half of the ownership interest in the railroad is held by a governmental entity or nonprofit organization, or both.

(Added to NRS by 2005, 2213)

NRS 279.394 “Federal Government” defined. “Federal Government” means the United States or any of its agencies or instrumentalities.

(Added to NRS by 1959, 649)

NRS 279.396 “Legislative body” defined. “Legislative body” means the city council, board of county commissioners or other legislative body of a community.

(Added to NRS by 1959, 649)

NRS 279.398 “Obligee” defined. “Obligee” includes any bondholder, his or her trustee, any lessor demising to the agency property used in connection with a redevelopment area or any assignee of all or part of his or her interest, and the Federal Government if it is a party to any contract with the agency.

(Added to NRS by 1959, 649; A 1985, 2069)

NRS 279.400 “Planning commission” defined. “Planning commission” means a planning commission established pursuant to law or charter.

(Added to NRS by 1959, 649)

NRS 279.404 “Public body” defined. “Public body” means the State, or any city, county, district or any other political subdivision of the State.

(Added to NRS by 1959, 649)

NRS 279.405 “Public educational activities and programs” defined.

1. “Public educational activities and programs” includes, without limitation:

(a) Early childhood education programs;

(b) Literacy programs;

(c) Summer learning programs, before- and after-school programs and other instruction at times during the year when school is not in session; and

(d) Wrap-around services.

2. As used in this section, “wrap-around services” means integrated student supports and supplemental services provided to a pupil that help create an environment conducive to learning and assist the pupil in making the transition from early childhood education through postsecondary education and into the workforce.

(Added to NRS by 2017, 659)

NRS 279.406 “Real property” defined. “Real property” means:

1. Land, including land under water and waterfront property.

2. Buildings, structures, fixtures and improvements on land.

3. Any property appurtenant to or used in connection with land.

4. Every estate, interest, privilege, easement, franchise and right in land, including rights-of-way, terms for years and liens, charges or encumbrances by way of judgment, mortgage or otherwise and the indebtedness secured by such liens.

(Added to NRS by 1959, 649)

NRS 279.408 “Redevelopment” defined.

1. “Redevelopment” means the planning, development, replanning, redesign, clearance, reconstruction or rehabilitation, or any combination of these, of all or part of a redevelopment area, and the provision of such residential, commercial, industrial, public or other structures or spaces as may be appropriate or necessary in the interest of the general welfare, including:

(a) Recreational and other facilities appurtenant thereto.

(b) Eligible railroads or facilities related to eligible railroads.

(c) The alteration, improvement, modernization, reconstruction or rehabilitation, or any combination thereof, of existing structures in a redevelopment area.

(d) Provision for uses involving open space, such as:

(1) Streets and other public grounds;

(2) Space around buildings, structures and improvements;

(3) Improvements of recreational areas; and

(4) Improvement of other public grounds.

(e) The replanning, redesign or original development of undeveloped areas where:

(1) The areas are stagnant or used improperly because of defective or inadequate layouts of streets, faulty layouts of lots in relation to size, shape, accessibility or usefulness, or for other causes; or

(2) The areas require replanning and assembly of land for reclamation or development in the interest of the general welfare because of widely scattered ownership, tax delinquency or other reasons.

2. “Redevelopment” does not exclude the continuance of existing buildings or uses whose demolition and rebuilding or change of use are not deemed essential to the redevelopment and rehabilitation of the area.

(Added to NRS by 1959, 649; A 1985, 2069; 2005, 2215)

NRS 279.410 “Redevelopment area” defined. “Redevelopment area” means an area of a community whose redevelopment is necessary to effectuate the public purposes declared in this chapter.

(Added to NRS by 1959, 650; A 1985, 2070; 2013, 798)

NRS 279.412 “Redevelopment project” defined. “Redevelopment project” means any undertaking of an agency pursuant to this chapter.

(Added to NRS by 1959, 650)

NRS 279.413 “Southern Nevada Enterprise Community” defined. “Southern Nevada Enterprise Community” means the area designated as the Southern Nevada Enterprise Community in section 5 of chapter 407, Statutes of Nevada 2007.

(Added to NRS by 2013, 1572)

NRS 279.414 “State” defined. “State” includes any state agency or instrumentality.

(Added to NRS by 1959, 650)

NRS 279.416 Declaration of state policy: Necessity of redevelopment of blighted areas. It is found and declared that there exist in many communities blighted areas which constitute either social or economic liabilities, or both, requiring redevelopment in the interest of the health, safety and general welfare of the people of those communities and of the State.

(Added to NRS by 1959, 650; A 1985, 2070)

NRS 279.418 Declaration of state policy: Growing menace of blighted areas to public health, safety and welfare; benefits to inhabitants resulting from remedying conditions. It is further found and declared that:

1. The existence of blighted areas constitutes a serious and growing menace which is condemned as injurious and inimical to the public health, safety and welfare of the people of the communities in which they exist and of the people of the State.

2. Such blighted areas present difficulties and handicaps which are beyond remedy and control solely by regulatory processes in the exercise of the police power.

3. They contribute substantially and increasingly to the problems of, and necessitate excessive and disproportionate expenditures for, crime prevention, correction, prosecution and punishment, the treatment of juvenile delinquency, the preservation of the public health and safety, and the maintaining of adequate police, fire and accident protection and other public services and facilities.

4. This menace is becoming increasingly direct and substantial in its significance and effect.

5. The benefits which will result from the remedying of such conditions and the redevelopment of blighted areas will accrue to all the inhabitants and property owners of the communities in which they exist.

(Added to NRS by 1959, 650)

NRS 279.420 Declaration of state policy: Inability of individual landowners to rehabilitate property; remedy by public acquisition. It is further found and declared that:

1. Conditions of blight tend to further obsolescence, deterioration and disuse because of the lack of incentive to the individual landowner and his or her inability to improve, modernize or rehabilitate his or her property while the condition of the neighboring properties remains unchanged.

2. As a consequence the process of deterioration of a blighted area frequently cannot be halted or corrected except by redeveloping the entire area, or substantial portions of it.

3. Such conditions of blight are chiefly found in areas subdivided into small parcels, held in divided and widely scattered ownerships, frequently under defective titles, and in many such instances the private assembly of the land in blighted areas for redevelopment is so difficult and costly that it is uneconomic and as a practical matter impossible for owners to undertake because of lack of legal power and excessive costs.

4. The remedying of such conditions may require the public acquisition at fair prices of adequate areas, the clearance of the areas through demolition of existing obsolete, inadequate, unsafe and insanitary buildings, and the redevelopment of the areas suffering from such conditions under proper supervision, with appropriate planning, and continuing land use and construction policies.

(Added to NRS by 1959, 651)

NRS 279.422 Declaration of state policy: Temporary government-owned wartime housing projects as blighted areas. It is further found and declared that blighted areas may include housing areas constructed as temporary government-owned wartime housing projects, and that such areas may be characterized by one or more of the conditions enumerated in NRS 279.388.

(Added to NRS by 1959, 651)

NRS 279.424 Declaration of state policy: Redevelopment of blighted areas by eminent domain; public use; necessity. It is declared to be the policy of the State:

1. To protect and promote the sound development and redevelopment of blighted areas and the general welfare of the inhabitants of the communities in which they exist by remedying such injurious conditions through the employment of all appropriate means.

2. That whenever the redevelopment of blighted areas cannot be accomplished by private enterprise alone, without public participation and assistance in the acquisition of land, in planning and in the financing of land assembly, in the work of clearance, and in the making of improvements necessary therefor, it is in the public interest to employ the power of eminent domain, to advance or expend public funds for these purposes, and to provide a means by which blighted areas may be redeveloped or rehabilitated.

3. That the redevelopment of blighted areas and the provision for appropriate continuing land use and construction policies in them constitute public uses and purposes for which public money may be advanced or expended and private property acquired, and are governmental functions of state concern in the interests of health, safety and welfare of the people of the State and of the communities in which the areas exist.

4. That the necessity in the public interest for the provisions of this chapter is declared to be a matter of legislative determination.

(Added to NRS by 1959, 651)

NRS 279.425 Declaration of state policy: Adequate supply of decent, safe and sanitary affordable housing necessary to accomplish purposes of Community Redevelopment Law. It is further found and declared that:

1. The provision of housing is a fundamental purpose of the Community Redevelopment Law and that a generally inadequate supply of decent, safe and sanitary affordable housing threatens the accomplishment of the primary purposes of the Community Redevelopment Law, including, without limitation, creating new employment opportunities, attracting new private investments of money in the area and creating physical, economic, social and environmental conditions to remove and prevent the recurrence of blight.

2. The provision and improvement of affordable housing which is inside or outside the boundaries of the redevelopment area can be of direct benefit to the redevelopment area in assisting the accomplishment of project objectives whether or not the redevelopment plan provides for affordable housing within the project area.

3. The provision of affordable housing by redevelopment agencies and the use of taxes allocated to the agency pursuant thereto is of statewide benefit and assistance to all local governmental agencies in the areas where affordable housing is provided.

(Added to NRS by 1993, 1328; A 2019, 1411)

AGENCIES

NRS 279.426 Agency for redevelopment: Creation. There is in each community a public body, corporate and politic known as the redevelopment agency of the community.

(Added to NRS by 1959, 652)

NRS 279.428 Resolution of legislative body as prerequisite to functioning of agency. An agency shall not transact any business or exercise any powers pursuant to this chapter unless, by resolution, the legislative body declares that there is need for an agency to function in the community.

(Added to NRS by 1959, 652; A 2013, 798)

NRS 279.430 Authority of agency conclusively presumed from resolution. In any proceeding involving the validity or enforcement of, or relating to, any contract by an agency, the agency is conclusively deemed to have been established and authorized to transact business and exercise its powers upon proof of the adoption of such a resolution.

(Added to NRS by 1959, 652)

NRS 279.432 Powers of public bodies in aid of local redevelopment. For the purpose of aiding and cooperating in the planning, undertaking, construction or operation of redevelopment projects located within the area in which it is authorized to act, any public body, upon the terms and with or without consideration as it determines, may:

1. Dedicate, sell, convey or lease any of its property to a redevelopment agency.

2. Cause parks, playgrounds, recreational, community, educational, water, sewer or drainage facilities, or any other works which it is otherwise empowered to undertake, to be furnished adjacent to or in connection with redevelopment projects.

3. Furnish, dedicate, close, pave, install, grade, regrade, plan or replan streets, roads, roadways, alleys, sidewalks or other places which it is otherwise empowered to undertake.

4. Plan or replan, zone or rezone any part of such area and make any legal exceptions from building regulations and ordinances.

5. Enter into agreements with the Federal Government respecting action to be taken by such public body pursuant to any of the powers granted by this chapter. Such agreements may extend over any period, notwithstanding any law to the contrary.

6. Purchase or legally invest in any of the bonds of an agency and exercise all of the rights of any holder of such bonds.

(Added to NRS by 1959, 652)

NRS 279.434 Exemption of agency and property from execution, process or lien; exceptions. Execution or other judicial process shall not issue against the real property of an agency nor shall any judgment against an agency be a charge or lien upon its real property. This section does not apply to or limit the right of obligees to foreclose or otherwise enforce any mortgage, deed of trust or other encumbrance of an agency or the right of obligees to pursue any remedies for the enforcement of any pledge or lien given by an agency on its rents, fees or revenues.

(Added to NRS by 1959, 652)

NRS 279.436 Suspension of agency’s authority. If an agency has not redeveloped or acquired land for, or commenced the redevelopment of a project, or entered into contracts for redevelopment within 2 years after the adoption of a resolution, as provided in NRS 279.428, the legislative body may by resolution declare that there is no further need for the agency. Upon the adoption of the resolution the offices of the agency members are vacated and the capacity of the agency to transact business or exercise any powers is suspended until the legislative body adopts a resolution declaring the need for the agency to function.

(Added to NRS by 1959, 652)

NRS 279.438 Termination of redevelopment plan adopted before January 1, 1991, and amendments to plan; extension of plan.

1. A redevelopment plan adopted before January 1, 1991, and any amendments to the plan must terminate at the end of the fiscal year in which the principal and interest of the last maturing of the securities issued before that date concerning the redevelopment area are fully paid or:

(a) With respect to a redevelopment plan adopted by the agency of a city whose population is 220,000 or more located in a county whose population is 100,000 or more but less than 700,000, if the legislative body adopts an extension of the redevelopment plan by ordinance, 60 years after the date on which the original redevelopment plan was adopted, whichever is later. Such an extension of a redevelopment plan has no effect on the allocation of revenues among taxing authorities within such a redevelopment area.

(b) With respect to a redevelopment plan adopted by the agency of a city whose population is 500,000 or more, if the requirements set forth in subsection 2 are met, 60 years after the date on which the original redevelopment plan was adopted, whichever is later.

(c) With respect to any other redevelopment plan, including a redevelopment plan adopted by an agency of a city specified in paragraph (a) or (b), if the requirements set forth in paragraph (a) or (b) are not met, 45 years after the date on which the original redevelopment plan was adopted, whichever is later.

2. A redevelopment plan adopted by an agency of a city whose population is 500,000 or more may terminate on the date prescribed by paragraph (b) of subsection 1 only if the legislative body adopts an extension of the redevelopment plan by ordinance and, on the date on which the extension is adopted:

(a) The assessed value of the aggregate number of redevelopment projects in the redevelopment area is not less than the assessed value of the aggregate number of redevelopment projects in the year in which the redevelopment plan was adopted; and

(b) The assessed value of the redevelopment area is not less than 75 percent of the assessed value of the redevelopment area in the year in which the redevelopment plan was adopted.

(Added to NRS by 1959, 653; A 1987, 1683; 1997, 2557; 1999, 3613; 2007, 2484; 2013, 2273; 2015, 3141; 2017, 3416)

NRS 279.439 Termination of redevelopment plan adopted on or after January 1, 1991, and amendments to plan.

1. Except as otherwise provided in subsections 2, 3 and 4, a redevelopment plan adopted on or after January 1, 1991, and any amendments to the plan must terminate not later than 30 years after the date on which the original redevelopment plan is adopted.

2. If a redevelopment area includes any real property conveyed by the Federal Government which contains an abandoned mine or milling operation with open pits, large volumes of mine overburden and tailings piles and mill facility foundations, or a hazardous level of contaminants, a redevelopment plan adopted on or after January 1, 1991, and any amendments to the plan must terminate not later than 45 years after the date of the conveyance of the real property if:

(a) Within 15 years after the date on which the original redevelopment plan is adopted, the State enters into one or more agreements, with respect to the real property conveyed by the Federal Government, for mine remediation and reclamation; and

(b) Before entering into any agreement for mine remediation and reclamation, the State consults with the legislative body of the community in which the real property is located.

3. Except for a redevelopment area described in subsection 2, a redevelopment plan, and any amendments to the plan, adopted on or after January 1, 1991, by an agency of a county whose population is 700,000 or more or a city whose population is 220,000 or more but less than 500,000 located in a county whose population is 700,000 or more that meets the requirement of subsection 4 must terminate not later than 45 years after the date on which the original redevelopment plan is adopted.

4. A redevelopment plan, and any amendments to the plan, may terminate on the date prescribed by subsection 3 only if the legislative body adopts an extension of the redevelopment plan by ordinance.

(Added to NRS by 1987, 1683; A 1997, 2557; 2007, 2484; 2015, 340, 3141; 2021, 2162)

NRS 279.440 Appointment of members; exceptions. Except as otherwise provided in NRS 279.443 and 279.444, when the legislative body adopts a resolution declaring the need for an agency, the mayor or other executive officer of a city or chair of the board of county commissioners, with the approval of the legislative body, shall appoint five resident electors of the community as members of the agency.

(Added to NRS by 1959, 653; A 2003, 1286)

NRS 279.442 Restriction on appointment of members. A member may not be an employee of the community, but notwithstanding any other law, he or she may be a member or employee of any other agency or authority of, or created for, the community.

(Added to NRS by 1959, 653; A 2003, 1286)

NRS 279.443 Alternative method of appointment of members; staggering of terms of resident electors; successors; vacancies.

1. As an alternative to the appointment of five members of the agency pursuant to NRS 279.440 and as an alternative to the procedures set forth in NRS 279.444:

(a) At the time of the adoption of a resolution pursuant to NRS 279.428, the legislative body may appoint not more than 11 of the following persons as members of the agency:

(1) Resident electors of the community;

(2) Members of the legislative body; or

(3) A combination of resident electors of the community and members of the legislative body; or

(b) At any time after the adoption of a resolution pursuant to NRS 279.428, the legislative body may direct the mayor or other executive officer of the city or chair of the board of county commissioners to appoint not more than 11 of the following persons as members of the agency:

(1) Resident electors of the community;

(2) Members of the legislative body; or

(3) A combination of resident electors of the community and members of the legislative body.

2. The terms of any resident electors of the community first appointed as members of the agency pursuant to paragraph (a) or (b) of subsection 1 must be staggered in substantially the same proportion as the terms of members are staggered pursuant to NRS 279.446. The successors of the members first appointed must be appointed for 4-year terms. Vacancies occurring during a term must be filled for the unexpired term. A member shall hold office until his or her successor is appointed and qualified.

(Added to NRS by 2003, 1285)

NRS 279.444 Action of legislative body as alternative to appointment of members; community’s exercise of powers; delegation of powers and functions.

1. As an alternative to the appointment of five members of the agency pursuant to NRS 279.440 and as an alternative to the procedures set forth in NRS 279.443, the legislative body may, at the time of the adoption of a resolution pursuant to NRS 279.428, or at any time thereafter, declare itself to be the agency, in which case, all the rights, powers, duties, privileges and immunities vested by this chapter in an agency are vested in the legislative body of the community. If the legislative body of a city declares itself to be the agency pursuant to this subsection, it may include the mayor of the city as part of the agency regardless of whether the mayor is a member of the legislative body.

2. A community may enact its own procedural ordinance and exercise the powers granted by this chapter.

3. An agency may delegate to a community any of the powers or functions of the agency with respect to the planning or undertaking of a redevelopment project in the area in which that community is authorized to act, and that community may carry out or perform those powers or functions for the agency.

(Added to NRS by 1959, 653; A 1985, 2070; 1993, 334; 2003, 1286; 2013, 798; 2021, 2163)

NRS 279.446 Terms of office of members; vacancies. If five resident electors of the community are appointed as members of the agency pursuant to NRS 279.440, three of the members first appointed must be designated to serve for terms of 1, 2 and 3 years, respectively, after the date of their appointments and two must be designated to serve for terms of 4 years after the date of their appointments. Their successors must be appointed for 4-year terms. Vacancies occurring during a term must be filled for the unexpired term. A member shall hold office until his or her successor is appointed and qualified.

(Added to NRS by 1959, 653; A 2003, 1287)

NRS 279.448 Chair: Designation; election; term of office. The appointing officer shall designate the first chair from among the members. When there is a vacancy in such office, the agency shall elect a chair from among its members. Unless otherwise prescribed by the legislative body, the term of office as chair is for the calendar year, or for that portion remaining after he or she is designated or elected.

(Added to NRS by 1959, 653)

NRS 279.450 Compensation and expenses of members. Members shall receive their actual and necessary expenses, including traveling expenses incurred in the discharge of their duties. They may receive such other compensation as the legislative body prescribes.

(Added to NRS by 1959, 653)

NRS 279.452 Removal of member: Grounds; procedure. For inefficiency, neglect of duty or misconduct in office, a member may be removed by the appointing officer, but only after he or she has been given a copy of the charges at least 10 days prior to a public hearing on such charges and has had an opportunity to be heard in person or by counsel. If a member is removed, a record of the proceedings and the charges and findings shall be filed in the office of the clerk of the community.

(Added to NRS by 1959, 653)

NRS 279.454 Interest in property included in redevelopment area forbidden; disclosure of interest; exception.

1. Except as provided in subsection 2, no officer or employee of an agency or community who in the course of his or her duties is required to participate in the formulation of or to approve plans or policies for the redevelopment of a redevelopment area may acquire any interest in any property included within a redevelopment area within the community. If any officer or employee owns, purchases or has or acquires any direct or indirect financial interest in such property, he or she shall immediately make a written disclosure of it to the agency and the legislative body which must be entered on their minutes. Failure to disclose constitutes misconduct in office.

2. Such an officer or employee may purchase or acquire property in the redevelopment area if the officer or employee uses it for his or her residence.

(Added to NRS by 1959, 654; A 1985, 976, 2071)

NRS 279.456 Acquisition of property by agency from member or officer by eminent domain. An agency shall not acquire from any of its members or officers any property or interest in property except through eminent domain proceedings.

(Added to NRS by 1959, 654)

NRS 279.458 Agency’s power vested in members. The powers of each agency are vested in the members in office.

(Added to NRS by 1959, 654)

NRS 279.460 Agency’s governmental functions; powers. Each redevelopment agency exercises governmental functions and has the powers prescribed in this chapter.

(Added to NRS by 1959, 654)

NRS 279.462 Powers of agency. An agency may:

1. Sue and be sued.

2. Have a seal.

3. Make and execute contracts and other instruments necessary or convenient to the exercise of its powers.

4. Make, amend and repeal bylaws and regulations not inconsistent with, and to carry into effect, the powers and purposes of this chapter.

5. Obtain, hire, purchase or rent office space, equipment, supplies, insurance and services.

6. Authorize and pay the travel expenses of agency members, officers, agents, counsel and employees on agency business.

(Added to NRS by 1959, 654; A 2013, 798)

NRS 279.464 Services and facilities available to agency. For the purposes of the agency, it shall have access to the services and facilities of the planning commission, the city engineer and other departments and offices of the community.

(Added to NRS by 1959, 654)

NRS 279.466 Personnel: Selection; employment; compensation; limitations. An agency may select, appoint and employ such permanent and temporary officers, agents, counsel and employees as it requires, and determine their qualifications, duties, benefits and compensation, subject only to the conditions and restrictions imposed by the legislative body on the expenditure or encumbrance of the funds appropriated to the community redevelopment agency administrative fund.

(Added to NRS by 1959, 654)

NRS 279.468 Preparation of plans for blighted areas; dissemination of redevelopment information; acceptance and expenditure of money; creation of residential plan; budget. An agency may:

1. From time to time prepare plans for the improvement, rehabilitation and redevelopment of blighted areas.

2. Disseminate redevelopment information.

3. Accept financial or other assistance from any public or private source, for the agency’s activities, powers and duties, and expend any funds so received for any of the purposes of this chapter.

4. For each neighborhood within the redevelopment area, create a residential plan for the neighborhood or appoint an advisory council for redevelopment and delegate the authority to create the residential plan to the advisory council. A residential plan created by an advisory council must be approved by the agency, and each residential plan created pursuant to this subsection must include a financing plan.

5. Include in its budget all money received from any source, including, without limitation, money received from a local government for use by an advisory council in carrying out a residential plan approved by the agency.

(Added to NRS by 1959, 654; A 1999, 3613)

NRS 279.470 Acquisition, management, disposal and encumbrance of interests in real and personal property; insurance. Within the redevelopment area or for purposes of redevelopment, an agency may:

1. Purchase, lease, obtain option upon or acquire by gift, grant, bequest, devise or otherwise, any real or personal property, any interest in property and any improvements thereon.

2. Except as otherwise provided in NRS 279.471 and 279.4712, acquire real property by eminent domain.

3. Clear buildings, structures or other improvements from any real property acquired.

4. Sell, lease, exchange, subdivide, transfer, assign, pledge, encumber by mortgage, deed of trust or otherwise, or otherwise dispose of any real or personal property or any interest in property.

5. Insure or provide for the insurance of any real or personal property or operations of the agency against risks or hazards.

6. Rent, maintain, manage, operate, repair and clear such real property.

(Added to NRS by 1959, 654; A 1999, 3613; 2005, 2216)

NRS 279.471 Requirements for agency to exercise power of eminent domain; resolutions; limited judicial review.

1. Except as otherwise provided in this subsection, an agency may exercise the power of eminent domain to acquire property for a redevelopment project only if the agency adopts a resolution that includes a written finding by the agency that a condition of blight exists for each individual parcel of property to be acquired by eminent domain. An agency may exercise the power of eminent domain to acquire a parcel of property that is not blighted for a redevelopment project if the agency adopts a resolution that includes a written finding by the agency that a condition of blight exists for at least two-thirds of the property within the redevelopment area at the time the redevelopment area was created.

2. In addition to the requirement set forth in subsection 1, an agency may exercise the power of eminent domain to acquire property for a redevelopment project only if:

(a) The property sought to be acquired is necessary to carry out the redevelopment plan;

(b) The agency has adopted a resolution of necessity that complies with the requirements set forth in subsection 3; and

3. A resolution of necessity required pursuant to paragraph (b) of subsection 2 must set forth:

(a) A statement that the property will be acquired for purposes of redevelopment as authorized pursuant to paragraph (o) of subsection 1 of NRS 37.010 and subsection 2 of NRS 279.470;

(b) A reasonably detailed description of the property to be acquired;

(d) A finding by the agency that acquisition of the property will be the option for redevelopment that is most compatible with the greatest public good and the least private injury; and

(e) A finding by the agency that acquisition of the property is necessary for purposes of redevelopment.

4. After an agency adopts a resolution pursuant to subsection 1 or 2, the resolution so adopted and the findings set forth in the resolution are final and conclusive and are not subject to judicial review unless credible evidence is adduced to suggest that the resolution or the findings set forth therein were procured through bribery or fraud.

(Added to NRS by 1999, 3612; A 2005, 1790, 2216; 2007, 338; 2011, 60)

NRS 279.4712 Prerequisites to agency exercising power of eminent domain; requirements for written offer; appraisal performed on behalf of owner of property.

1. Before an agency may exercise the power of eminent domain to acquire property for a redevelopment project, the agency must:

(a) Negotiate in good faith with the owner of the property and attempt to reach an agreement regarding the amount of compensation to be paid for the property;

(b) Provide the owner with a written offer of compensation in the manner set forth in subsection 2 and allow the owner at least 30 days after the date he or she receives the offer to respond to the offer, unless the offer is returned as undeliverable; and

(c) Provide the owner with a copy of the appraisal report upon which the offer of compensation is based at the time the offer is made.

2. A written offer of compensation required pursuant to subsection 1:

(a) Must include written notice to the owner of the property informing the owner of the following:

(1) That all or a portion of his or her property is necessary to carry out the redevelopment plan;

(2) The nature of the intended redevelopment, at the time of the written offer, for which the property is considered necessary;

(3) The parcel number or other reasonably detailed description of the property sought to be acquired;

(4) That the agency has provided a copy of the appraisal report upon which the offer of compensation is based;

(5) That the agency will provide copies, to the extent prepared, of any preliminary plans or redevelopment plans within 15 days upon request; and

(6) The rights and responsibilities of the owner pursuant to this section.

(b) Must include the value of the property sought to be acquired plus damages, if any, as appraised by the agency.

(c) Must be sent by certified mail, return receipt requested, to the last known address of the owner of the property as shown in the records of the county assessor or by personal delivery. If there is more than one owner of the property, notice must be sent to all owners of the property. If the written offer of compensation is returned as undeliverable, no additional notice is required. The agency is not required to provide an additional written offer of compensation to a person who acquires title to the property after the written offer of compensation has been provided in the manner required pursuant to this paragraph.

3. If the owner of the property has an appraisal performed on his or her own behalf, the owner must provide the agency with a copy of the appraisal report.

(Added to NRS by 2005, 2213)

NRS 279.4714 Prerequisite to request that agency exercise power of eminent domain. Before a person who seeks to purchase, lease or otherwise acquire or increase an interest in any property within a redevelopment area may request an agency to exercise the power of eminent domain to acquire the property, the person requesting the redevelopment must negotiate in good faith with the owner of the property to reach an agreement to purchase the property from the owner of the property.

(Added to NRS by 2005, 2214)

NRS 279.472 Leases or sales: Public hearing. Any lease or sale made pursuant to NRS 279.470 may be made without public bidding but only after a public hearing, notice of which shall be given by publication for not less than once a week for 2 weeks in a newspaper of general circulation published in the county in which the land lies.

(Added to NRS by 1959, 655)

NRS 279.474 Development of building sites. An agency may develop as a building site any real property owned or acquired by it. In connection with such development it may cause streets and highways to be laid out and graded, and pavements or other road surfacing, sidewalks and curbs, and public utilities to be constructed and installed.

(Added to NRS by 1959, 655)

NRS 279.476 Rehousing bureau. An agency may operate a rehousing bureau to assist site occupants in obtaining adequate temporary or permanent housing. It may incur any necessary expenses for this purpose.

(Added to NRS by 1959, 655)

NRS 279.478 Assistance for relocation.

1. An agency shall provide assistance for relocation and shall make all the payments required by chapter 342 of NRS and the regulations adopted by the Director of the Department of Transportation pursuant thereto for programs or projects for which federal financial assistance is received to pay all or any part of the cost of that program or project.

2. This section does not limit any other authority which an agency may have to make other payments for assistance for relocation or to make any payment for that assistance which exceeds the amount authorized in regulations adopted by the Director of the Department of Transportation pursuant to chapter 342 of NRS.

(Added to NRS by 1959, 655; A 1973, 153; 1985, 2071; 1989, 636; 1999, 3613)

NRS 279.480 Investments. An agency may:

1. Invest any money held in reserves or sinking funds, or any money not required for immediate disbursement, in:

(a) Obligations issued by the United States Postal Service or the Federal National Mortgage Association, whether or not the payment of principal and interest thereon is guaranteed by the Federal Government.

(b) Bonds or other obligations issued by a redevelopment agency created pursuant to this chapter or a legislative body that has elected to exercise the powers granted to an agency pursuant to the provisions of this chapter.

(c) Bonds or other securities issued pursuant to the provisions of NRS 349.150 to 349.364, inclusive, 350.500 to 350.720, inclusive, or 396.809 to 396.885, inclusive.

(d) Money market mutual funds that:

(1) Are registered with the Securities and Exchange Commission;

(2) Are rated by a nationally recognized rating service as “AAA” or its equivalent; and

(3) Invest only in securities issued or guaranteed as to payment of principal and interest by the Federal Government, or its agencies or instrumentalities, or in repurchase agreements that are fully collateralized by such securities.

(e) Any other investment in which a city may invest pursuant to NRS 355.170.

2. Purchase its bonds at a price not more than their principal amount and accrued interest. All bonds so purchased must be cancelled.

(Added to NRS by 1959, 655; A 1997, 2875; 1999, 576, 621)

NRS 279.482 Imposition of conditions on lessees and purchasers; employment plan required in proposal for redevelopment project; contents of plan.

1. An agency may obligate lessees or purchasers of property acquired in a redevelopment project to:

(a) Use the property for the purpose designated in the redevelopment plans.

(b) Begin the redevelopment of the area within a period of time which the agency fixes as reasonable.

(c) Comply with other conditions which the agency deems necessary to carry out the purposes of this chapter, including, without limitation, the provisions of an employment plan or a contract approved for a redevelopment project.

2. Except as otherwise provided in NRS 279.6093, as appropriate for the particular project, each proposal for a redevelopment project must also include an employment plan. The employment plan must include:

(a) A description of the existing opportunities for employment within the area;

(b) A projection of the effect that the redevelopment project will have on opportunities for employment within the area; and

(c) A description of the manner in which an employer relocating a business into the area plans to employ persons living within the area of operation who:

(1) Are economically disadvantaged;

(2) Have any disability;

(3) Are members of racial minorities;

(4) Are veterans; or

(5) Are women.

(Added to NRS by 1959, 655; A 1985, 2071; 1997, 2558; 1999, 3614; 2013, 1573; 2021, 2163)

NRS 279.484 Breach of covenants running with the land. The agency may provide in the contract that any of the obligations of the purchaser are covenants or conditions running with the land, the breach of which shall cause the fee to revert to the agency.

(Added to NRS by 1959, 655)

1. An agency may, with the consent of the legislative body and pursuant to a written agreement with one or more developers or other persons, pay all or part of the value of the land for and the cost of the construction of any building, facility, structure or other improvement and the installation of any improvement which is publicly or privately owned and located within or without the redevelopment area.

2. Within 14 days before a meeting at which the legislative body of a city whose population is 500,000 or more is scheduled to consider an action proposed by the agency of the city pursuant to subsection 1, the agency shall make available to the public a detailed report which includes, without limitation:

(a) A copy of any contract, memorandum of understanding or other agreement between the agency or the legislative body and any other person relating to the redevelopment project.

(b) A summary of the redevelopment project which includes, without limitation:

(1) A full and complete description of:

(I) The costs of the redevelopment project, including, without limitation, the costs of acquiring any real property, clearance costs, relocation costs, the costs of any improvements which will be paid by the agency and the amount of the anticipated interest on any bonds issued or sold to finance the project.

(II) The estimated current value of the real property interest to be conveyed or leased, determined at its highest and best use permitted under the redevelopment plan.

(III) The estimated value of the real property interest to be conveyed or leased, determined at the use and with the conditions, covenants and restrictions, and development costs required by the sale or lease, and the current purchase price or present value of the lease payments which the lessee is required to make during the term of the lease. If the sale price or present value of the total rental amount to be paid to the agency or legislative body is less than the fair market value of the real property interest to be conveyed or leased, determined at the highest and best use permitted under the redevelopment plan, the agency shall provide an explanation of the reason for the difference.

(2) An explanation of how the project will assist in the elimination of blight, including, without limitation, reference to all supporting facts and materials relied on in reaching the conclusions presented in the explanation.

3. Before the legislative body may give its consent to an action proposed by the agency pursuant to subsection 1, it must determine that:

(a) The buildings, facilities, structures or other improvements are of benefit to the redevelopment area or the immediate neighborhood in which the redevelopment area is located; and

(b) No other reasonable means of financing those buildings, facilities, structures or other improvements are available.

Ê Those determinations by the agency and the legislative body are final and conclusive.

4. In reaching its determination that the buildings, facilities, structures or other improvements are of benefit to the redevelopment area or the immediate neighborhood in which the redevelopment area is located, the legislative body shall consider:

(a) Whether the buildings, facilities, structures or other improvements are likely to:

(1) Encourage the creation of new business or other appropriate development;

(2) Create jobs or other business opportunities for nearby residents;

(3) Increase local revenues from desirable sources;

(4) Increase levels of human activity in the redevelopment area or the immediate neighborhood in which the redevelopment area is located;

(5) Possess attributes that are unique, either as to type of use or level of quality and design;

(6) Require for their construction, installation or operation the use of qualified and trained labor; and

(7) Demonstrate greater social or financial benefits to the community than would a similar set of buildings, facilities, structures or other improvements not paid for by the agency.

(b) The opinions of persons who reside in the redevelopment area or the immediate neighborhood in which the redevelopment area is located.

(c) Comparisons between the level of spending proposed by the agency and projections, made on a pro forma basis by the agency, of future revenues attributable to the buildings, facilities, structures or other improvements.

5. If the value of that land or the cost of the construction of that building, facility, structure or other improvement, or the installation of any improvement has been, or will be, paid or provided for initially by the community or other governmental entity, the agency may enter into a contract with that community or governmental entity under which it agrees to reimburse the community or governmental entity for all or part of the value of that land or of the cost of the building, facility, structure or other improvement, or both, by periodic payments over a period of years. The obligation of the agency under that contract constitutes an indebtedness of the agency which may be payable out of taxes levied and allocated to the agency under paragraph (b) of subsection 1 of NRS 279.676, or out of any other available money.

(Added to NRS by 1959, 655; A 1981, 763; 1985, 2072; 1993, 1329; 2003, 644; 2013, 2273; 2017, 3417)

NRS 279.488 Continuation of existing buildings on land; justification for acquisition by agency. Without the consent of an owner, an agency may not acquire any real property on which an existing building is to be continued on its present site and in its present form and use unless such building requires structural alteration, improvement, modernization or rehabilitation, or the site or lot on which the building is situated requires modification in size, shape or use or it is necessary to impose upon such property any of the standards, restrictions and controls of the plan and the owner fails or refuses to agree to participate in the redevelopment plan.

(Added to NRS by 1959, 656)

NRS 279.490 Financial assistance from governmental and private sources. An agency may borrow money or accept financial or other assistance from the State, the Federal Government or private sources for any redevelopment project within its area of operation, and may comply with any conditions of that loan or grant.

(Added to NRS by 1959, 656; A 1985, 2072)

NRS 279.492 Eminent domain: Existing public use; consent of public body. Property already devoted to a public use may be acquired by the agency through eminent domain, but property of a public body shall not be acquired without its consent.

(Added to NRS by 1959, 656)

NRS 279.494 Territorial jurisdiction: Counties; cities. The territorial jurisdiction of the agency of a county is the unincorporated territory in the county, and that of a city is the territory within its limits.

(Added to NRS by 1959, 656)

NRS 279.496 Property owned in redevelopment project: Payment of money in lieu of taxes. The agency may in any year during which it owns property in a redevelopment project pay to any city, county, district or other public corporation which would have levied a tax upon such property, had it not been exempt, an amount of money in lieu of taxes.

(Added to NRS by 1959, 656)

NRS 279.498 Work exceeding $10,000 requires competitive bidding. Any work of grading, clearing, demolition or construction in excess of $10,000 undertaken by the agency must be done by contract after competitive bids.

(Added to NRS by 1959, 656; A 1985, 2072)

NRS 279.500 Applicability of provisions governing payment of prevailing wage for public works projects.

1. The provisions of NRS 338.013 to 338.090, inclusive, apply to any contract for new construction, repair or reconstruction which is awarded on or after October 1, 1991, by an agency for work to be done in a project.

2. If an agency:

(a) Provides property for development at less than the fair market value of the property;

(b) Provides a loan to a small business pursuant to NRS 279.700 to 279.730, inclusive; or

Ê regardless of whether the project is publicly or privately owned, the agency must provide in the loan agreement with the small business or the agreement with the developer, as applicable, that the development project is subject to the provisions of NRS 338.013 to 338.090, inclusive, to the same extent as if the agency had awarded the contract for the project. The agency, the small business or the developer, as applicable, any contractor who is awarded the contract or enters into the agreement to perform the project, and any subcontractor who performs any portion of the project shall comply with the provisions of NRS 338.013 to 338.090, inclusive, in the same manner as if the agency had undertaken the project or had awarded the contract. This subsection applies only to the project covered by the loan agreement between the agency and the small business or the agreement between the agency and the developer, as applicable. This subsection does not apply to future development of the property unless an additional loan, or additional financial incentives with a value of more than $100,000, are provided to the small business or developer, as applicable.

(Added to NRS by 1959, 656; A 1991, 2345; 2013, 799; 2019, 711)

NRS 279.508 Joint exercise of powers by two or more agencies: Authority; action at joint hearings and meetings or by designated agency. Two or more agencies within two or more communities may jointly exercise the powers granted under this chapter. In such case the agencies, the planning commissions and the legislative bodies may hold joint hearings and meetings, or the legislative bodies of the communities acting separately may each designate the agency of one of the communities to act as the agency for all of the interested communities.

(Added to NRS by 1959, 657)

NRS 279.510 Joint exercise of powers by two or more agencies: Designated agency to obtain report and recommendation of planning commissions concerning conformity of redevelopment plan to community’s master or general plan. If one agency is designated, it shall obtain the report and recommendation of the planning commission of each community on the redevelopment plan and its conformity to the master or general plan of each community before presenting the tentative redevelopment plan or the redevelopment plan to the respective legislative bodies for adoption.

(Added to NRS by 1959, 657)

NRS 279.512 Joint exercise of powers by two or more agencies: Designated agency’s cooperation with planning commissions in formulating redevelopment plans. The designated agency and each planning commission shall cooperate in formulating redevelopment plans.

(Added to NRS by 1959, 657)

NRS 279.514 Redevelopment of area within another community’s territory. By ordinance the legislative body of a community may authorize the redevelopment of an area within its territorial limits by another community if such area is contiguous to such other community. The ordinance shall designate the community to undertake such redevelopment. The community so authorized may undertake the redevelopment of such area in all respects as if the area was within its territorial limits and its legislative body, agency and planning commission shall have all the rights, powers and privileges with respect to such area as if it was within the territorial limits of the community so authorized. Neither the legislative body, agency nor planning commission of the community so authorizing shall be required to comply with any requirements of this chapter, except as set forth in this section. Any redevelopment plan for such area shall be approved by ordinance enacted by the legislative body of the community so authorizing.

(Added to NRS by 1959, 657)

PLANS

NRS 279.516 Prerequisites of community for redevelopment: Planning commission; master plan. Before any area is designated for redevelopment, the community authorized to undertake such development shall:

1. Have a planning commission.

2. Have a master or general plan for the community adopted by the planning commission or the legislative body. The plan must include all of the following:

(a) The general location and extent of existing and proposed major thoroughfares, transportation routes, terminals and other major public utilities and facilities.

(b) A land-use plan which designates the proposed general distribution and general location and extent of the uses of the land for housing, business, industry, recreation, education, public buildings and grounds and other categories of public and private uses of land.

(c) A statement of the standards of population density and building intensity recommended for the various districts and other territorial units, and estimates of future growth in population, in the territory covered by the plan, all correlated with the land-use plan.

(d) Maps, plans, charts or other descriptive matter showing the areas in which conditions are found indicating the existence of blighted areas.

(Added to NRS by 1959, 657; A 1987, 711)

NRS 279.518 Designation of areas for evaluation as redevelopment areas. Areas for evaluation may be designated by resolution of the legislative body, or the legislative body may by resolution authorize the designation of those areas by resolution of the planning commission or by resolution of the members of the agency.

(Added to NRS by 1959, 658; A 1985, 2073)

1. A redevelopment area need not be restricted to buildings, improvements or lands which are detrimental or inimical to the public health, safety or welfare, but may consist of an area in which such conditions predominate and injuriously affect the entire area. A redevelopment area may include, in addition to blighted areas, lands, buildings or improvements which are not detrimental to the public health, safety or welfare, but whose inclusion is found necessary for the effective redevelopment of the area of which they are a part.

2. At least 75 percent of the area included within a redevelopment area must be improved land and may include, without limitation:

(a) Public land upon which public buildings have been erected or improvements have been constructed.

(b) Land on which an abandoned mine, landfill or other similar use is located and which is surrounded by or directly abuts the improved land.

3. The area included within a redevelopment area may be contiguous or noncontiguous.

4. If the subject of the redevelopment is an eligible railroad or facilities related to an eligible railroad, the area included within a redevelopment area may consist of contiguous or noncontiguous vacant land that:

(a) Is located near the eligible railroad; and

(b) May accommodate commercial or industrial facilities that may use the eligible railroad.

5. The boundaries of a redevelopment area created after July 1, 2017, and of each area of land added to a redevelopment area by an amendment adopted pursuant to NRS 279.608 after July 1, 2017, must:

(a) Follow visible ground features or extensions of visible ground features, except where the boundary coincides with the official boundary of the State or a county or city; and

(b) Except to the extent of physical or political boundaries, be regular in shape.

6. A redevelopment area must include all taxable property within the area except for property which is taxable pursuant to NRS 361.157 or which must be excluded pursuant to subsection 7.

7. The taxable property in a redevelopment area must not be included in any subsequently created redevelopment area until at least 50 years after the effective date of creation of the first redevelopment area in which the property was included.

8. As used in this section:

(a) “Improved land” means:

(1) Land that contains structures which:

(I) Are used for residential, commercial, industrial or governmental purposes; and

(II) Have been connected to water facilities, sewer facilities or roads, or any combination thereof;

(2) Any areas related to the structures described in subparagraph (1), including, without limitation, landscaping areas, parking areas, parks and streets; and

(3) If the subject of the redevelopment is an eligible railroad or facilities related to an eligible railroad:

(I) Land on which the eligible railroad is located; and

(II) Any areas related to the eligible railroad, including, without limitation, land on which is located railroad tracks, a railroad right-of-way or a facility related to the eligible railroad.

(b) “Visible ground feature” includes, without limitation, a street, road, highway, river, stream, shoreline, drainage ditch, railroad right-of-way or any other physical feature which is clearly visible from the ground.

(Added to NRS by 1985, 2067; A 1987, 1683; 1999, 1090; 2005, 2216; 2017, 3418)

NRS 279.520 Contents of resolution designating area for evaluation. The resolution designating an area for evaluation must contain the following:

1. A finding that the area requires study to determine if a redevelopment project within that area is feasible.

2. A description of the boundaries of the area designated.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.522 Requests for evaluation of particular area. Any person may, in writing, request the legislative body, or the planning commission or the agency if authorized by the legislative body to designate areas for evaluation, to designate such an area for study, and may submit with their request plans showing the proposed redevelopment of that area or any part thereof.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.524 Selection of redevelopment area; preliminary plan. The planning commission may, on its own motion or at the request of the agency, or shall, at the direction of the legislative body or upon the written petition of the owners in fee of a majority of any redevelopment area, excluding publicly owned areas or areas dedicated to a public use, select one or more redevelopment areas comprising all or part of the area for evaluation, and formulate a preliminary plan for the redevelopment of each redevelopment area.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.526 Preliminary plan: Sufficiency. A preliminary plan is sufficient if it:

1. Describes the boundaries of the redevelopment area.

2. Contains a general statement of the uses of the land, layout of principal streets, densities of population and intensities and standards of building proposed for the redevelopment of the area.

3. Shows how the purposes of this chapter would be attained by such redevelopment.

4. Shows that the proposed redevelopment conforms to the master or general plan for the community.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.528 Submission of preliminary plan to agency; analysis. The planning commission shall submit the preliminary plan for each redevelopment area to the agency. The agency shall make an analysis of the preliminary plan and include the analysis in its report to the legislative body.

(Added to NRS by 1959, 658; A 1985, 2074)

NRS 279.530 Cooperation of agency and planning commission. The agency and planning commission shall cooperate in the selection of redevelopment areas and in the preparation of the preliminary plans.

(Added to NRS by 1959, 658; A 1985, 2074)

NRS 279.564 Preparation or adoption of redevelopment plan by agency; hearings and negotiations. Each agency shall prepare or cause to be prepared, or adopt, a redevelopment plan for each redevelopment area and for that purpose may hold hearings and conduct examinations, investigations and other negotiations.

(Added to NRS by 1959, 661; A 1985, 2074)

NRS 279.566 Property owners’ participation and assistance in redevelopment; agency’s rules; provisions if nonparticipation.

1. Every redevelopment plan must provide for the participation and assistance in the redevelopment of property in the redevelopment area by the owners of all or part of that property if the owners agree to participate in conformity with the redevelopment plan adopted by the legislative body for the area.

2. With respect to each redevelopment area, each agency shall, before the adoption of the redevelopment plan, adopt and make available for public inspection rules to implement the operation of this section in connection with that plan.

3. Every redevelopment plan must contain provisions for redevelopment of the property if the owners fail to participate in the redevelopment.

(Added to NRS by 1959, 661; A 1985, 2074; 1999, 3614)

NRS 279.568 Conformance to master or general plan for community. A redevelopment plan must conform to the master or general plan for the community as it applies to the redevelopment area. The agency shall consult with the planning commission of the community in formulating redevelopment plans.

(Added to NRS by 1959, 661; A 1985, 2074)

NRS 279.570 Report by planning commission; vote of legislative body.

1. Before the redevelopment plan is submitted to the legislative body, it must be submitted to the planning commission for its report and recommendation and for its conformity to the master or general plan for the community. Within 30 days after a redevelopment plan is submitted to it for consideration, the planning commission shall make and file its report and recommendation with the agency.

2. If the planning commission recommends against the approval of the redevelopment plan, the legislative body may adopt that plan by a two-thirds vote of its entire membership. If the planning commission recommends approval or fails to make any recommendation within the time allowed, the legislative body may adopt the redevelopment plan by a majority vote of the entire membership.

(Added to NRS by 1959, 661; A 1985, 2074)

NRS 279.572 Contents of redevelopment plan: General requirements. Every redevelopment plan must show:

1. The amount of open space to be provided and the layout of streets;

2. Limitations on type, size, height, number and proposed use of buildings;

3. The approximate number of dwelling units;

4. The property to be devoted to public purposes and the nature of those purposes;

5. Other covenants, conditions and restrictions which the legislative body prescribes; and

6. The proposed method of financing the redevelopment plan in sufficient detail so that the legislative body may determine the economic feasibility of the plan.

(Added to NRS by 1959, 662; A 1985, 2075; 1991, 2064; 1997, 2558)

NRS 279.574 Contents of redevelopment plan: Leases and sales of real property by agency. Except as otherwise provided in NRS 279.486, every redevelopment plan must provide for the agency to lease or sell all real property acquired by it in any redevelopment area, except property conveyed by it to the community. Any such lease or sale must be conditioned on the redevelopment and use of the property in conformity with the redevelopment plan.

(Added to NRS by 1959, 662; A 1985, 2075)

NRS 279.576 Contents of redevelopment plan: Acquisition of property; bonds. A redevelopment plan may provide for the agency to:

1. Acquire by gift, purchase, lease or condemnation all or part of the real property in the redevelopment area, and any personal property acquired in connection with that real property.

2. Issue bonds and expend the proceeds from their sale in carrying out the redevelopment plan.

(Added to NRS by 1959, 662; A 1985, 2075)

NRS 279.578 Submission of redevelopment plan to legislative body; report required.

1. After the formation of a redevelopment plan and its submission to the planning commission of the community, the agency shall submit it to the legislative body.

2. Every redevelopment plan submitted to the legislative body must be accompanied by a report containing:

(a) The reasons for the selection of the redevelopment area;

(b) A description of the physical, social and economic conditions existing in the area;

(c) A description of the proposed method of financing the redevelopment plan in sufficient detail so that the legislative body may determine the economic feasibility of the plan;

(d) A method or plan for the relocation of persons and families temporarily or permanently displaced from housing facilities in the redevelopment area;

(e) An analysis of the preliminary plan; and

(f) The report and recommendations of the planning commission, if any.

(Added to NRS by 1959, 662; A 1985, 2075)

NRS 279.580 Matters to be considered by legislative body; public hearing; notice.

1. The legislative body shall consider the redevelopment plan submitted by the agency and all evidence and testimony for or against the adoption of the plan at a public hearing, notice of which must be given by publication for not less than once a week for 4 successive weeks in a newspaper of general circulation published in the county in which the redevelopment area is located.

2. The notice of hearing must include:

(a) A legal description of the boundaries of the area designated in the redevelopment plan;

(b) A general statement of the scope and objectives of the plan; and

(1) Having an objection to the proposed redevelopment plan; or

(2) Who denies the existence of blight in the proposed redevelopment area or the regularity of any of the proceedings,

Ê may appear before the legislative body and show cause why the proposed plan should not be adopted.

3. Copies of the notice must be mailed to the last known owner of each parcel of land in the area designated in the redevelopment plan, at his or her last known address as shown by the records of the assessor for the community.

(Added to NRS by 1959, 662; A 1985, 2076)

NRS 279.583 Proposals by legislative body to exclude certain land from proposed redevelopment area. Except as otherwise provided in this section, after publication of notice of the public hearing pursuant to NRS 279.580 and before approval of the redevelopment plan by the legislative body, the legislative body may submit to the planning commission a proposal to exclude land from a proposed redevelopment area. The legislative body may not exclude any taxable property within the area except for property which is taxable pursuant to NRS 361.157 or which must be excluded pursuant to subsection 7 of NRS 279.519. Within 30 days after that change is submitted to it for consideration, the planning commission shall submit its report and recommendation to the legislative body. If the planning commission does not report upon the change within 30 days after its submission by the legislative body, the legislative body may proceed to exclude the land from the proposed redevelopment area without that report and recommendation.

(Added to NRS by 1985, 2067; A 2017, 3419)

NRS 279.586 Adoption of redevelopment plan by ordinance: Determinations; contents of ordinance.

1. If the legislative body determines that:

(a) The redevelopment area includes a blighted area, the redevelopment of which is necessary to effectuate the public purposes declared in this chapter;

(b) The redevelopment plan would redevelop the area in conformity with this chapter and is in the interests of the peace, health, safety and welfare of the community;

(d) The condemnation of real property, if provided for in the redevelopment plan, is necessary to the execution of the redevelopment plan and adequate provisions have been made for payment for property to be acquired as provided by law;

(e) Adequate permanent housing is or will be made available in the community for displaced occupants of the redevelopment area at rents comparable to those in the community at the time of displacement, if the redevelopment plan may result in the temporary or permanent displacement of any occupants of housing in the redevelopment area;

(f) All noncontiguous areas of a redevelopment area:

(1) Are blighted or necessary for effective redevelopment; or

(2) Satisfy the requirements set forth in subsection 4 of NRS 279.519;

(g) Inclusion of any lands, buildings or improvements which are not detrimental to the public health, safety or welfare is necessary for the effective redevelopment of the area of which they are a part; and

(h) Adequate provisions have been made for the payment of the principal of and interest on any bonds which may be issued by the agency, if provided for in the redevelopment plan,

Ê the legislative body may adopt, by ordinance, the plan as the official redevelopment plan for the redevelopment area.

2. The ordinance must:

(a) Contain a legal description of the boundaries of the redevelopment area covered by the redevelopment plan;

(b) Set forth the purposes and intent of the legislative body with respect to the redevelopment area;

(c) Designate the approved plan as the official redevelopment plan of the redevelopment area and incorporate it by reference; and

(d) Contain the determinations of the legislative body as set forth in subsection 1.

(Added to NRS by 1959, 663; A 1985, 2076; 2005, 2217)

NRS 279.589 Effect of decision of legislative body.

1. The decision of the legislative body concerning a redevelopment area is final and conclusive, and it is thereafter conclusively presumed that the redevelopment area is a blighted area and that all prior proceedings have been properly and regularly taken.

2. This section does not apply in any action questioning the validity of any redevelopment plan, the adoption or approval of that plan, or any of the findings or determinations of the agency or the legislative body in connection with that plan brought pursuant to NRS 279.609.

(Added to NRS by 1985, 2067)

NRS 279.598 Safeguards required that redevelopment will be carried out; controls. No plan may be approved unless it contains adequate safeguards that the work of redevelopment will be carried out pursuant to the plan and provides for the retention of controls and the establishment of any restrictions or covenants running with land sold or leased for private use for such periods of time and under such conditions as the legislative body deems necessary to effectuate the purposes of this chapter. The establishment of such controls is a public purpose under the provisions of this chapter.

(Added to NRS by 1959, 663)

NRS 279.602 Copy of ordinance transmitted to agency. Upon the filing of the ordinance with the clerk or other appropriate officer of the legislative body, a copy of the ordinance shall be sent to the agency, and the agency is vested with the responsibility for carrying out the plan.

(Added to NRS by 1959, 664)

NRS 279.6025 Submission of initial and annual reports for each redevelopment area in redevelopment plan.

1. In addition to the report required pursuant to the provisions of subsection 2, for each redevelopment area for which a redevelopment plan is adopted pursuant to the provisions of NRS 279.586 on or after July 1, 2011, the agency shall, on or before the January 1 next after the adoption of the plan, submit to the Director of the Legislative Counsel Bureau, for transmittal to the Legislature, and to the legislative body a report on a form prescribed by the Committee on Local Government Finance that includes, without limitation, the following information for the redevelopment area:

(a) A legal description of the boundaries of the redevelopment area;

(b) The date on which the redevelopment plan for the redevelopment area was adopted;

(d) The total sum of the assessed value of the taxable property in the redevelopment area for:

(1) The fiscal year immediately preceding the adoption of the redevelopment plan; and

(2) The fiscal year during which the redevelopment plan was adopted, if such fiscal year ends before the reporting deadline;

(e) The combined overlapping tax rate of the redevelopment area;

(f) The property tax rate of the redevelopment area;

(g) The property tax revenue expected to be received from any tax increment area, as defined in NRS 278C.130, within the redevelopment area during the first fiscal year that the agency will receive an allocation pursuant to the provisions of NRS 279.676;

(h) Copies of any memoranda of understanding into which the agency enters during the fiscal year in which the redevelopment plan was adopted; and

(i) The amortization schedule for any debt incurred for the redevelopment area and the reasons for incurring the debt.

2. On or before January 1 of each year, for each redevelopment area for which a redevelopment plan has been adopted pursuant to the provisions of NRS 279.586, the agency shall submit to the Director of the Legislative Counsel Bureau, for transmittal to the Legislature, and to the legislative body a report on a form prescribed by the Committee on Local Government Finance that includes, without limitation, the following information for the redevelopment area for the previous fiscal year:

(a) The property tax revenue received from any tax increment area, as defined in NRS 278C.130, within the redevelopment area;

(b) The combined overlapping tax rate of the redevelopment area;

(d) The total sum of the assessed value of the taxable property in the redevelopment area;

(e) If the amount reported pursuant to the provisions of paragraph (d) is less than the total sum of the assessed value of the taxable property in the redevelopment area for any other previous fiscal year, an explanation of the reason for the difference;

(f) Copies of any memoranda of understanding into which the agency enters;

(g) The amortization schedule for any debt incurred for the redevelopment area and the reasons for incurring the debt; and

(h) Any change to the boundary of the redevelopment area and an explanation of the reason for the change.

3. In addition to the information required pursuant to the provisions of subsection 2, an agency of a city whose population is 500,000 or more shall include in the report submitted pursuant to subsection 2 the following information for the redevelopment area for the previous fiscal year:

(a) A statement of all revenues and expenditures of the agency.

(b) A statement of efforts by the agency to promote the goals of the regional development authority, as defined in NRS 231.009, including, without limitation, an explanation of the extent to which the activities of the agency have promoted private investment, the formation of businesses and the creation of jobs.

4. Any report for a redevelopment area submitted pursuant to the provisions of subsection 1 must be submitted with the report for the redevelopment area submitted pursuant to the provisions of subsection 2.

(Added to NRS by 2011, 3746; A 2013, 2275)

NRS 279.603 Recording of statement regarding redevelopment; transmission of certain information if taxes are to be divided.

1. The legislative body shall record with the county recorder of the county in which the redevelopment area is situated a description of the land within the redevelopment area and a statement that proceedings for the redevelopment of that area have been instituted.

2. Within 30 days after the adoption by the legislative body of a redevelopment plan which contains a provision for the division of taxes pursuant to NRS 279.676, the clerk of the community shall transmit a copy of the description and statement recorded pursuant to subsection 1, a copy of the ordinance adopting the plan and a map or plat indicating the boundaries of the redevelopment area to:

(a) The auditor and tax assessor of the county in which the redevelopment area is located;

(b) The officer who performs the functions of auditor or assessor for any taxing agency which, in levying or collecting its taxes, does not use the county assessment roll or collect its taxes through the county; and

(Added to NRS by 1985, 2067; A 2001, 1760)

NRS 279.6035 Applicants for building permits must be advised of redevelopment area. After the adoption of a redevelopment plan, all applicants for building permits in the redevelopment area must be advised by the building department of the community that the site for which a building permit is sought for the construction of buildings or for other improvements is within a redevelopment area.

(Added to NRS by 1985, 2068)

NRS 279.604 Approval of contracts by legislative body. The legislative body may require the agency to submit any contracts to the legislative body and obtain its approval before entering into such contracts.

(Added to NRS by 1959, 664)

1. If, at any time after the adoption of a redevelopment plan by the legislative body, the agency desires to take an action that will constitute a material deviation from the plan or otherwise determines that it would be necessary or desirable to amend the plan, the agency must recommend the amendment of the plan to the legislative body. An amendment may include the addition of one or more areas to any redevelopment area but, except as otherwise provided in subsection 2, may not include the removal of an area from any redevelopment area, regardless of whether that area was initially a part of the redevelopment area or was added later through amendment.

2. Except as otherwise provided in NRS 279.683, in a city whose population is less than 25,000, an amendment to a redevelopment plan may include the removal of an area from a redevelopment area only if the area proposed for removal consists primarily of single-family residential dwellings or multi-family residential dwellings of three stories or less, or both.

3. Before recommending amendment of the plan, the agency shall hold a public hearing on the proposed amendment. Notice of that hearing must be published at least 10 days before the date of hearing in a newspaper of general circulation, printed and published in the community, or, if there is none, in a newspaper selected by the agency. The notice of hearing must include a legal description of the boundaries of the area designated in the plan to be amended and a general statement of the purpose of the amendment.

4. In addition to the notice published pursuant to subsection 3, the agency shall cause a notice of hearing on a proposed amendment to the plan to be sent by mail at least 10 days before the date of the hearing to each owner of real property, as listed in the records of the county assessor, whom the agency determines is likely to be directly affected by the proposed amendment. The notice must:

(a) Set forth the date, time, place and purpose of the hearing and a physical description of, or a map detailing, the proposed amendment; and

(b) Contain a brief summary of the intent of the proposed amendment.

5. If after the public hearing, the agency recommends substantial changes in the plan which affect the master or community plan adopted by the planning commission or the legislative body, those changes must be submitted by the agency to the planning commission for its report and recommendation. The planning commission shall give its report and recommendations to the legislative body within 30 days after the agency submitted the changes to the planning commission.

6. After receiving the recommendation of the agency concerning the changes in the plan, the legislative body shall hold a public hearing on the proposed amendment, notice of which must be published in a newspaper in the manner designated for notice of hearing by the agency. The legislative body shall adopt an ordinance amending the ordinance adopting the plan if, after the public hearing held pursuant to this subsection, the legislative body determines that the amendment to the plan proposed by the agency:

(a) For an amendment that includes the removal of an area from any redevelopment area pursuant to subsection 2:

(1) Is not prohibited by NRS 279.683;

(2) Will only remove from the redevelopment area an area that consists primarily of single-family residential dwellings or multi-family residential dwellings of three stories or less, or both; and

(3) Is necessary or desirable because it is in the public interest for the property tax revenue collected from the area that will be removed to be distributed in the same manner as property tax revenue is distributed outside the redevelopment area; and

(b) For any other amendment, is necessary or desirable.

7. As used in this section, “material deviation” means an action that, if taken, would alter significantly one or more of the aspects of a redevelopment plan that are required to be shown in the redevelopment plan pursuant to NRS 279.572. The term includes, without limitation, the vacation of a street that is depicted in the streets and highways plan of the master plan described in NRS 278.160 which has been adopted for the community and the relocation of a public park. The term does not include the vacation of a street that is not depicted in the streets and highways plan of the master plan described in NRS 278.160 which has been adopted for the community.

(Added to NRS by 1959, 664; A 1983, 492; 1985, 2077; 2003, 2344; 2009, 2769; 2013, 1510; 2017, 3420; 2023, 281)

NRS 279.609 Limitations on actions to question validity of redevelopment plan or amendment. Any action questioning the validity of:

1. Any redevelopment plan or amendment to a redevelopment plan;

2. The adoption or approval of that plan or amendment; or

3. Any of the findings or determinations of the agency or the legislative body in connection with that plan,

Ê may only be brought after the adoption of the plan or amendment or within 90 days after the date of adoption of the ordinance adopting or amending the plan.

(Added to NRS by 1985, 2068)

PROJECTS IN CITIES WHOSE POPULATION IS 500,000 OR MORE

NRS 279.6092 Applicability. The provisions of NRS 279.6092 to 279.60993, inclusive, apply only to a redevelopment project undertaken in a redevelopment area of a city whose population is 500,000 or more.

(Added to NRS by 2013, 1572; A 2021, 2164)

1. Except as otherwise provided in NRS 279.6094, if an agency proposes to provide an incentive to a developer for a redevelopment project, the proposal for the redevelopment project must include an employment plan. The employment plan must include:

(a) A description of the existing opportunities for employment within the area;

(b) A projection of the effect that the redevelopment project will have on opportunities for employment within the area;

(c) A description of the manner in which an employer relocating a business into the area plans to employ persons living within the area of operation who:

(1) Are economically disadvantaged;

(2) Have any disability;

(3) Are members of racial minorities;

(4) Are veterans; or

(5) Are women;

(d) A description of the manner in which:

(1) The developer will seek the participation in the redevelopment project of local small business contractors and subcontractors who are licensed in this State and whose place of business is located within 100 miles of the project;

(2) The developer will, in hiring for construction jobs for the project, use its best efforts to hire veterans and persons of all sexes and diverse ethnicities living within the redevelopment area, an area in the city for which the legislative body has adopted a specific plan for neighborhood revitalization or which is eligible for a community development block grant pursuant to 24 C.F.R. Part 570, or the Southern Nevada Enterprise Community; and

(3) Each employer relocating a business into the area will use its best efforts to hire veterans and persons of all sexes and diverse ethnicities living within any of the areas described in subparagraph (2).

2. A description provided pursuant to paragraph (d) of subsection 1 must include an agreement by the developer or employer to offer and conduct training for the residents described in that paragraph or make a good faith effort to provide such training through a program of training that is offered by a governmental agency and reasonably available to the developer or employer.

3. The agency shall submit the employment plan within 30 days after receipt to:

(a) The Nevada Commission on Minority Affairs created by NRS 232.852; and

(b) If the redevelopment project is located within the Southern Nevada Enterprise Community, the Southern Nevada Enterprise Community Board. Upon request of the Board, a developer must present the employment plan to the Board.

4. An employment plan submitted to an agency pursuant to this section is a public record.

(Added to NRS by 2021, 2160)

NRS 279.6094 Employment plan required for redevelopment project built as public work. A public agency that uses redevelopment funds for the design or construction of a redevelopment project being built as a public work pursuant to chapter 338 of NRS shall submit an employment plan pursuant to NRS 279.6093.

(Added to NRS by 2013, 1572; A 2021, 2164)

NRS 279.6096 Partial withholding of incentive by agency.

1. Except as otherwise provided in subsection 2, if an agency proposes to provide an incentive to a developer for a redevelopment project, an amount equal to 10 percent of the amount of the proposed incentive must be withheld by the agency and must not be paid to the developer until:

(a) At least 15 percent of all employees of contractors, subcontractors, vendors and suppliers of the developer are bona fide residents of a redevelopment area described in NRS 279.6092, an area in the city for which the legislative body has adopted a specific plan for neighborhood revitalization or which is eligible for a community development block grant pursuant to 24 C.F.R. Part 570, or the Southern Nevada Enterprise Community;

(b) At least 15 percent of all jobs created by employers who relocate to the redevelopment area are filled by bona fide residents of any of the areas described in paragraph (a); and

2. If an agency provides incentives in a form other than cash to a developer for a redevelopment project, the developer shall deposit an amount of money with the agency equal to 10 percent of the value of such incentives as agreed upon between the agency and the developer. If the developer satisfies the requirements of subsection 1, the agency shall return the deposit required by this subsection to the developer.

(Added to NRS by 2013, 1572)

1. A developer that receives an incentive from an agency for a redevelopment project shall submit to the agency a progress report on the employment plan submitted pursuant to NRS 279.6093:

(a) Not more than 120 days after the date on which the redevelopment project is 50 percent completed; and

(b) Not more than 120 days after the completion of the redevelopment project.

2. A progress report submitted pursuant to subsection 1 must include, without limitation:

(a) The number of persons who have worked on the redevelopment project who:

(1) Are economically disadvantaged;

(2) Have any disability;

(3) Are members of racial minorities;

(4) Are veterans; or

(5) Are women;

(b) The number of persons who have worked on the redevelopment project who are residents of an area described in subparagraph (2) of paragraph (d) of subsection 1 of NRS 279.6093;

(c) The number of local small business contractors and subcontractors who are licensed in this State and whose place of business is located within 100 miles of the redevelopment project who have worked on the redevelopment project; and

(d) A comparison between the information presented in the progress report and the information contained in the original employment plan submitted for the project pursuant to NRS 279.6093.

3. The agency shall submit a progress report received pursuant to this section within 30 days after receipt to:

(a) The Nevada Commission on Minority Affairs created by NRS 232.852; and

4. A progress report submitted pursuant to this section is a public record.

(Added to NRS by 2021, 2161)

NRS 279.6098 Report by developer of information relating to redevelopment project; penalty for failure to submit report.

1. Except as otherwise provided in subsection 2, a developer that receives incentives from an agency for a redevelopment project shall, upon completion of the project and upon request of the agency, report, in a form prescribed by the agency, information relating to:

(a) Outreach efforts that the developer has utilized, including, without limitation, information relating to job fairs, advertisements in publications that reach residents of the areas described in NRS 279.6096 and utilization of employment referral agencies;

(b) Training conducted for persons hired by the developer and contractors, subcontractors, vendors and suppliers of the developer and the employers within the redevelopment project; and

2. If a developer receives incentives from an agency for a redevelopment project with a value of $100,000 or less, the developer shall use its best efforts to satisfy the reporting requirements described in subsection 1.

3. If the developer fails to comply with the requirements of this section:

(a) The agency may refuse to pay all or any portion of an incentive; and

(b) The agency may require the developer to repay any incentive already paid to the developer.

(Added to NRS by 2013, 1572)

NRS 279.6099 Appeal of refusal to pay amount of incentive withheld by agency.

1. A developer may appeal the refusal by an agency to pay the amount provided for in NRS 279.6096 to the legislative body of the community.

2. In an appeal, the developer has the burden of demonstrating that:

(a) Specific actions were taken to substantially fulfill the requirements of NRS 279.6096;

(b) An insufficient number of significant opportunities for appropriate contractors, subcontractors, vendors or suppliers to perform a commercially useful function in the project existed; and

(c) Use of appropriate contractors, subcontractors, vendors or suppliers as required by NRS 279.6096 would have significantly and adversely affected the overall cost of the project.

3. If the legislative body finds that the developer’s appeal has satisfied the requirements of subsection 2, the agency shall pay the developer the amount provided for in NRS 279.6096.

(Added to NRS by 2013, 1573)

1. A business that receives an incentive to relocate into the redevelopment area must submit to the agency a progress report not more than 120 days after the opening of the business and annually thereafter for the term during which the business is receiving the incentive.

2. A progress report submitted pursuant to subsection 1 must include, without limitation:

(a) The number of persons employed by the business who:

(1) Are economically disadvantaged;

(2) Have any disability;

(3) Are members of racial minorities;

(4) Are veterans; or

(5) Are women;

(b) The number of persons employed by the business who are residents of an area described in subparagraph (2) of paragraph (d) of subsection 1 of NRS 279.6093; and

(c) A comparison between the information presented in the progress report and the information included in the original employment plan submitted for the project pursuant to NRS 279.6093.

3. The agency shall submit a progress report received pursuant to this section within 30 days after receipt to:

(a) The Nevada Commission on Minority Affairs created by NRS 232.852; and

(b) If the redevelopment project is located within the Southern Nevada Enterprise Community, the Southern Nevada Enterprise Community Board. Upon request of the Board, a business must present the progress report to the Board.

4. A report submitted pursuant to this section is a public record.

(Added to NRS by 2021, 2162)

FINANCIAL PROVISIONS

NRS 279.610 Appropriations.

1. At any time after the agency created for any community becomes authorized to transact business and exercise its powers, the legislative body of the community may appropriate to the agency such amounts as the legislative body deems necessary for the administrative expenses and overhead of the agency. The money appropriated may be paid to the agency as a grant to defray the expenses and overhead, or as a loan to be repaid upon such terms and conditions as the legislative body may provide.

2. In addition to the common understanding and usual interpretation of the term, “administrative expense” includes, but is not limited to, expenses of redevelopment planning and dissemination of redeveloped information.

(Added to NRS by 1959, 665)

NRS 279.612 Annual budget.

1. Each agency transacting business and exercising powers under this chapter shall annually submit to the legislative body of the community a proposed budget of its administrative expenses.

2. The legislative body may adopt an annual budget for the administrative expenses of the agency in such amounts as it deems necessary and may provide such conditions and restrictions upon the expenditure or encumbrance of the money appropriated pursuant to the budget as it deems advisable.

(Added to NRS by 1959, 665)

NRS 279.614 Agency’s administrative fund. The money appropriated for administrative expenses shall be kept in the treasury of the community in a special fund to be known as the community redevelopment agency administrative fund, and money shall be drawn from the fund to meet the administrative expenses of the agency in substantially the same manner as money is drawn by other agencies and departments of the community.

(Added to NRS by 1959, 665)

NRS 279.616 Money appropriated to defray administrative expenses; agency not department of community; status of agency’s employees. The money appropriated by the legislative body to the community redevelopment agency administrative fund is money granted by the community to defray the administrative expenses of the agency which is performing a public function of the community and the grant of money in this manner is not to be construed as making the agency a department of the community or as placing the officers, agents, counsel and employees under civil service of the community.

(Added to NRS by 1959, 665)

NRS 279.618 Agency’s reports to legislative body. Each agency shall file with the legislative body a detailed report of all of its transactions, including a statement of all revenues and expenditures, at monthly, quarterly or annual intervals as the legislative body may prescribe.

(Added to NRS by 1959, 665)

NRS 279.619 Limitation on issuing securities or incurring indebtedness.

1. Securities must not be issued and no indebtedness may be incurred in any other manner, by or on behalf of an agency to finance, in whole or in part, a redevelopment plan beyond 20 years after the date on which the redevelopment plan is adopted, except that an agency may enter into leases or incur indebtedness at any time before the termination of the redevelopment plan if the leases are terminated and the indebtedness is fully repaid no later than the termination of the redevelopment plan. The maturity date of any securities which are refunded must not extend beyond the date of termination of the redevelopment plan.

2. Any securities issued by or on behalf of an agency to finance, in whole or in part, redevelopment pursuant to NRS 279.620 to 279.626, inclusive, and 279.634 to 279.672, inclusive, must mature and be fully paid, including any interest thereon, before the termination of the redevelopment plan.

(Added to NRS by 1987, 1683; A 1997, 2559)

NRS 279.620 Revolving fund: Establishment; sources.

1. At any time after it has adopted a resolution declaring that there is need for an agency to function in the community, the legislative body may establish a redevelopment revolving fund to be kept in the treasury of the community.

2. For the purpose of raising money to be deposited in such fund, the legislative body may appropriate money or the community may issue and sell general obligation bonds.

(Added to NRS by 1959, 666)

NRS 279.622 Issuance and sale of general obligation bonds: Purposes; amount authorized.

1. The community may also issue and sell its general obligation bonds for the purpose of providing funds with which to redeem before maturity, retire at maturity, or purchase agency bonds issued under NRS 279.634 to 279.672, inclusive. General obligation bonds issued pursuant to this section may be authorized and issued in a principal amount sufficient to provide funds for the payment of any or all of the following:

(a) The principal amount of agency bonds proposed to be so redeemed, retired or purchased.

(b) The estimated amount of any premiums required to be paid in connection with the redemption or purchase of such agency bonds.

(c) The estimated amount of any due and unpaid interest or accrued interest on such agency bonds which must be paid at the time the same are redeemed, retired or purchased.

(d) The estimated amount of all expenses incidental to or connected with the redemption, retirement or purchase of such agency bonds and the authorization, issuance and sale of such general obligation bonds.

2. All agency bonds redeemed, retired or purchased with the proceeds of such general obligation bonds shall be cancelled and may not be reissued.

(Added to NRS by 1959, 666)

NRS 279.624 Agreement with respect to amount of general obligation bonds where plan contains provision authorized by NRS 279.676. If the redevelopment plan contains the provision authorized by NRS 279.676, the agency and the legislative body of the community may, either before or after the authorization of general obligation bonds for the purposes permitted by NRS 279.622, enter into an agreement that the principal amount of any such general obligation bonds sold for such purposes, together with all interest which the community may pay thereon, shall constitute a loan by the community to the agency for the purpose of refinancing the redevelopment project, and that, subject to any prior pledge of or claim upon the moneys in the special fund provided for in NRS 279.676, the moneys accruing to such special fund are irrevocably pledged to the repayment of such loan until there has been repaid to the community from time to time from such special fund the principal amount of such general obligation bonds plus all interest which the community may pay thereon, less such part, if any, of the proceeds of such general obligation bonds which were not used for such purposes, and less any premiums and accrued interest received by the community upon the sale of such general obligation bonds.

(Added to NRS by 1959, 666)

NRS 279.625 Special election may be held only if emergency exists.

1. For the purposes of NRS 279.626 and 279.636, a special election may be held only if the legislative body of the community determines, by a unanimous vote, that an emergency exists.

2. The determination made by the legislative body is conclusive unless it is shown that the legislative body acted with fraud or a gross abuse of discretion. An action to challenge the determination made by the legislative body must be commenced within 15 days after the legislative body’s determination is final.

3. As used in this section, “emergency” means any unexpected occurrence or combination of occurrences which requires immediate action by the legislative body to prevent or mitigate a substantial financial loss to the community or to enable the legislative body to provide an essential service to the residents of the community.

(Added to NRS by 1993, 1048)

NRS 279.626 Issuance of general obligation bonds: Manner; limitations; exceeding limitation. Except as otherwise provided in this chapter, any general obligation bonds issued by any community pursuant to NRS 279.620 to 279.632, inclusive, must be authorized and issued in the manner and within the limitations prescribed by law or the charter of the community for the issuance and authorization of the bonds for public purposes generally. Irrespective of any limitation as to the amount of general obligation bonds which may be issued, a community may issue the bonds for the purposes prescribed in NRS 279.620 to 279.632, inclusive, in excess of the limitation, in such amount as may be authorized by the voters of the community at any special, primary or general election if the community is a county, and at any special election or primary or general municipal election or primary or general state election, if the community is a city.

(Added to NRS by 1959, 666; A 1993, 1051)

NRS 279.628 Expenditures from revolving fund.

1. By resolution of the legislative body adopted by a majority vote any money in the redevelopment revolving fund may be expended from time to time for:

(a) The acquisition of real property in any redevelopment area.

(b) The clearance, aiding in relocation of occupants of the site and preparation of any redevelopment area for redevelopment.

2. By resolution of the legislative body adopted by a two-thirds vote, any money in the redevelopment revolving fund may be paid to the agency, upon such terms and conditions as the legislative body may prescribe for any of the following purposes:

(a) Deposit in a trust fund to be expended for the acquisition of real property in any redevelopment area.

(b) The clearance of any redevelopment area for redevelopment.

(c) Any expenses necessary or incidental to the carrying out of a redevelopment plan which has been adopted by the legislative body.

(d) For the provision of grants to pay the costs related to the improvement of educational facilities in the community, except for the cost of any regular expenses of such an educational facility.

(Added to NRS by 1959, 667; A 1985, 2078; 2011, 3747)

NRS 279.630 Sale or lease of property acquired from revolving fund: Minimum amount; redeposit of proceeds; approval of sale or lease.

1. No real or personal property, or any interest therein, acquired or constructed in whole or in part with money from the redevelopment revolving fund may be sold or leased for an amount less than its fair market value in accordance with any covenants and conditions governing that sale or lease, unless the agency finds that a sale or lease for a lesser consideration is necessary to effectuate the purposes of the redevelopment plan.

2. All money received by the agency from the sale, lease or encumbering of property acquired with money from the redevelopment revolving fund in excess of the money required to repay the loans and interest thereon authorized by this chapter must be redeposited in the fund.

3. If any property acquired in whole or in part from the redevelopment revolving fund is to be sold or leased by the agency, the sale or lease must be first approved by the legislative body by resolution adopted after public hearing. Notice of the time and place of the hearing must be published once in a newspaper of the community at least 1 week before the hearing. The resolution must be adopted by a majority vote unless the legislative body has provided by ordinance for a two-thirds vote for such purpose.

(Added to NRS by 1959, 667; A 1981, 763; 1985, 2078)

NRS 279.632 Abolition of revolving fund; transfer of money. The legislative body of any community may abolish the redevelopment revolving fund whenever it finds that the purposes for which it was established have been accomplished. At the time of abolishing the fund, the legislative body shall transfer all money in it to the general obligation bond redemption fund and provide that all money thereafter to be deposited or redeposited in the redevelopment revolving fund shall be deposited in the general obligation bond redemption fund. Any surplus existing in the general obligation bond redemption fund after payment of principal and interest shall be transferred to the general fund of the community.

(Added to NRS by 1959, 667)

NRS 279.634 Bonds: Issuance for corporate or refunding purposes. From time to time an agency may issue bonds for any of its corporate purposes. An agency may also issue refunding bonds for the purpose of paying or retiring bonds previously issued by it.

(Added to NRS by 1959, 667)

NRS 279.636 Types of bonds which agency may issue; additional security for bonds.

1. An agency may issue such types of bonds as it may determine, including bonds on which the principal and interest are payable:

(a) Exclusively from the income and revenues of the redevelopment projects financed with the proceeds of the bonds, or with those proceeds together with financial assistance from the State or Federal Government in aid of the projects.

(b) Exclusively from the income and revenues of certain designated redevelopment projects whether or not they were financed in whole or in part with the proceeds of the bonds.

(c) In whole or in part from taxes allocated to, and paid into a special fund of, the agency pursuant to the provisions of NRS 279.674 to 279.687, inclusive.

(d) From its revenues generally.

(e) From any contributions or other financial assistance from the State or Federal Government.

(f) From the proceeds of the surcharge imposed pursuant to NRS 244A.830.

(g) By any combination of these methods.

2. Any of the bonds may be additionally secured by a pledge of any revenue or by an encumbrance by mortgage, deed of trust or otherwise of any redevelopment project or other property of the agency or by a pledge of the taxes referred to in subsection 1.

3. Amounts payable in any manner permitted by this section may be additionally secured by a pledge of the full faith and credit of the community whose legislative body has declared the need for the agency to function. Such additional security may only be provided upon the approval of the majority of the voters voting on the question at a primary or general election or a special election called for that purpose. In its proposal to its voters the governing body shall define the area to be redeveloped, the primary source or sources of revenue first to be employed to retire the bonds and the maximum sum for which the city may pledge its full faith and credit in connection with the bonds to be issued for the project.

(Added to NRS by 1959, 668; A 1981, 314; 1993, 1052; 2011, 3341)

NRS 279.638 Liability on bonds; limitation of indebtedness.

1. Neither the members of an agency nor any persons executing the bonds are liable personally on the bonds by reason of their issuance.

2. Unless the full faith and credit of a community is pledged, the bonds and other obligations of any agency are not a debt of the community, the State or any of its political subdivisions and neither the community, the State nor any of its political subdivisions is liable on them, nor in any event shall the bonds or obligations be payable out of any funds or properties other than those of the agency; and such bonds and other obligations shall so state on their face. Unless the full faith and credit of a community is pledged, the bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.

(Added to NRS by 1959, 668; A 1981, 315)

NRS 279.640 Authorization of bonds; sale.

1. The agency may authorize bonds by resolution. The resolution, trust indenture or mortgage must provide for:

(a) The issuance of the bonds in one or more series.

(b) The date the bonds will bear.

(d) The interest rate.

(e) The denomination of the bonds.

(f) Their form, either coupon or registered.

(g) The conversion or registration privileges carried by the bonds.

(h) The rank or priority of the bonds.

(i) The manner of their execution.

(j) The medium of payment.

(k) The place of payment.

(l) The terms of redemption with or without premium to which the bonds are subject.

2. The bonds may be sold at par, above par or below par in accordance with the provisions of NRS 350.2012 at a:

(a) Public sale held after notice is published at least once at least 5 days before the sale in a newspaper of general circulation published in the community, or, if there is none, in a newspaper of general circulation published in the county; or

(b) Private sale without any advertisement or public notice.

(Added to NRS by 1959, 668; A 1993, 260; 1995, 155)

NRS 279.642 Validity of bonds: Termination of office. If any agency member or officer whose signature appears on bonds or coupons ceases to be such member or officer before delivery of the bonds, the signature of the member or officer is as effective as if the member or officer had remained in office.

(Added to NRS by 1959, 669)

NRS 279.644 Negotiability of bonds. Bonds issued pursuant to this chapter are fully negotiable.

(Added to NRS by 1959, 669)

NRS 279.646 Validity of bonds: Presumptions. In any action or proceeding involving the validity or enforceability of any bonds or their security, any such bond reciting in substance that it has been issued by the agency to aid in financing a redevelopment project is conclusively deemed to have been issued for a redevelopment project and the project is conclusively deemed to have been planned, located and constructed pursuant to this chapter.

(Added to NRS by 1959, 669)

NRS 279.648 Issuance of bonds: Pledge of revenues; encumbrances of property. An agency may:

1. Pledge all or any part of its gross or net rents, fees or revenues to which its right then exists or may thereafter come into existence.

2. Encumber by mortgage, deed of trust or otherwise all or any part of its real or personal property, then owned or thereafter acquired.

(Added to NRS by 1959, 669)

NRS 279.650 Issuance of bonds: Limitations on further indebtedness and transactions. An agency may covenant:

1. Against pledging all or any part of its rents, fees and revenues.

2. Against encumbering all or any part of its real or personal property, to which its right or title then exists or may thereafter come into existence.

3. Against permitting any lien on such revenues or property.

4. With respect to limitations on its right to sell, lease or otherwise dispose of all or part of any redevelopment project.

5. As to what other, or additional debts or obligations it may incur.

(Added to NRS by 1959, 669)

NRS 279.652 Issuance of bonds: Use of proceeds; lost or destroyed bonds; extension of time for payment; redemption. An agency may:

1. Covenant as to the bonds to be issued, as to the issuance of such bonds in escrow or otherwise, and as to the use and disposition of the bond proceeds.

2. Provide for the replacement of lost, destroyed or mutilated bonds.

3. Covenant against extending the time for the payment of its bonds or interest.

4. Redeem the bonds, covenant for their redemption, and provide the redemption terms and conditions.

(Added to NRS by 1959, 669)

NRS 279.654 Issuance of bonds: Rentals and revenues; special funds. An agency may:

1. Covenant as to the consideration or rents and fees to be charged in the sale or lease of a redevelopment project, the amount to be raised each year or other period of time by rents, fees and other revenues, and as to their use and disposition.

2. Create or authorize the creation of special funds for money held for redevelopment or other costs, debt service, reserves or other purposes, and covenant as to the use and disposition of such money.

(Added to NRS by 1959, 669)

NRS 279.656 Issuance of bonds: Abrogation or amendment of contracts with bondholders. An agency may prescribe the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated; the amount of bonds whose holders are required to consent thereto, and the manner in which such consent may be given.

(Added to NRS by 1959, 669)

NRS 279.658 Issuance of bonds: Use and maintenance of property; insurance. An agency may covenant:

1. As to the use of any or all of its real or personal property.

2. As to the maintenance of its real and personal property, its replacement, the insurance to be carried on it, and the use and disposition of insurance money.

(Added to NRS by 1959, 669)

NRS 279.660 Issuance of bonds: Effects of breach of covenants; events of default; waiver. An agency may:

1. Covenant as to the rights, liabilities, powers and duties arising upon the breach by it of any covenant, condition or obligation.

2. Covenant and prescribe as to events of default and terms and conditions upon which any or all of its bonds or obligations become or may be declared due before maturity, and as to the terms and conditions upon which such declaration and its consequences may be waived.

(Added to NRS by 1959, 670)

NRS 279.662 Power of agency to provide for powers and duties of bondholders’ trustee or bondholders. An agency may:

1. Vest in a trustee or the holders of bonds or any proportion of them the right to enforce the payment of the bonds or any covenants securing or relating to the bonds.

2. Vest in a trustee the right, in the event of a default by the agency, to take possession of all or part of any redevelopment project, to collect the rents and revenues arising from it and to dispose of such money pursuant to the agreement of the agency with the trustee.

3. Provide for the powers and duties of a trustee and limit his or her liabilities.

4. Provide the terms and conditions upon which the trustee or the holders of bonds or any proportion of them may enforce any covenant or rights securing or relating to the bonds.

(Added to NRS by 1959, 670)

NRS 279.664 Power of agency to make additional covenants; additional powers. An agency may:

1. Make covenants other than and in addition to the covenants expressly authorized of like or different character.

2. Make such covenants and do any and all such acts and things as may be necessary, convenient or desirable to secure its bonds, or, except as otherwise provided in this chapter, as will tend to make the bonds more marketable notwithstanding that such covenants, acts or things may not be enumerated in this chapter.

(Added to NRS by 1959, 670)

NRS 279.666 Rights of agency’s obligee. An obligee, in addition to all other rights which may be conferred on the obligee, and subject only to any contractual restrictions binding upon the obligee may:

1. By mandamus, suit, action or proceeding, compel the agency and its members, officers, agents or employees to perform each and every term, provision and covenant contained in any contract of the agency with or for the benefit of the obligee, and require the carrying out of any or all such covenants and agreements of the agency and the fulfillment of all duties imposed upon it by this chapter.

2. By suit, action or proceeding in equity, enjoin any acts or things which may be unlawful, or the violation of any of the rights of the obligee.

(Added to NRS by 1959, 670)

NRS 279.668 Rights of agency’s obligee upon default. By its resolution, trust indenture, mortgage, lease or other contract, an agency may confer upon any obligee holding or representing a specified amount in bonds, the following rights upon the happening of an event or default prescribed in such resolution or instrument, to be exercised by suit, action or proceeding in any court of competent jurisdiction:

1. To cause possession of all or part of any redevelopment project to be surrendered to any such obligee.

2. To obtain the appointment of a receiver of all or part of any redevelopment project of the agency and of the rents and profits from it. If a receiver is appointed, he or she may enter and take possession of the redevelopment project or any part of it, operate and maintain it, collect and receive all fees, rents, revenues or other charges thereafter arising from it, and shall keep such money in separate accounts and apply it pursuant to the obligations of the agency as the court shall direct.

3. To require the agency and its members and employees to account as if it and they were the trustees of an express trust.

(Added to NRS by 1959, 670)

NRS 279.670 Bonds, interest and income exempted from taxes; exceptions.

1. Except as otherwise provided in subsection 2, bonds issued pursuant to the provisions of this chapter are issued for an essential public and governmental purpose, and together with interest on them and income from them are exempt from all taxes.

2. The provisions of subsection 1 do not apply to the tax on estates imposed pursuant to the provisions of chapter 375A of NRS or the tax on generation-skipping transfers imposed pursuant to the provisions of chapter 375B of NRS.

(Added to NRS by 1959, 671; A 1989, 2107; 1991, 1712)

NRS 279.672 Bonds of agency as legal investments.

1. Notwithstanding any restrictions on investments contained in any laws, the State and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and institutions, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, money or other funds belonging to them or within their control in any bonds or other obligations issued by an agency. Such bonds and other obligations are authorized security for all public deposits.

2. It is one of the purposes of this chapter to authorize any persons, firms, corporations, associations, political subdivisions, districts or other public agencies and officers, public or private, to use any funds owned or controlled by them, including, but not limited to, sinking, insurance, investment, retirement, compensation, pension and trust funds, and funds held on deposit, for the purchase of any such bonds or other obligations. This chapter does not relieve any person, firm or corporation from any duty of exercising reasonable care in selecting securities.

(Added to NRS by 1959, 671; A 1983, 129)

NRS 279.674 “Taxes” defined. As used in NRS 279.674 to 279.687, inclusive, the word “taxes” shall include, but without limitation, all levies on an ad valorem basis upon land or real property.

(Added to NRS by 1959, 671)

1. Any redevelopment plan may contain a provision that taxes, if any, levied upon taxable property in the redevelopment area each year by or for the benefit of the State, any city, county, district or other public corporation, after the effective date of the ordinance approving the redevelopment plan, must be divided as follows:

(a) That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of the taxing agencies upon the total sum of the assessed value of the taxable property in the redevelopment area as shown upon the assessment roll used in connection with the taxation of the property by the taxing agency, last equalized before the effective date of the ordinance, must be allocated to and when collected must be paid into the funds of the respective taxing agencies as taxes by or for such taxing agencies on all other property are paid. To allocate taxes levied by or for any taxing agency or agencies which did not include the territory in a redevelopment area on the effective date of the ordinance but to which the territory has been annexed or otherwise included after the effective date, the assessment roll of the county last equalized on the effective date of the ordinance must be used in determining the assessed valuation of the taxable property in the redevelopment area on the effective date. If property which was shown on the assessment roll used to determine the amount of taxes allocated to the taxing agencies is transferred to the State and becomes exempt from taxation, the assessed valuation of the exempt property as shown on the assessment roll last equalized before the date on which the property was transferred to the State must be subtracted from the assessed valuation used to determine the amount of revenue allocated to the taxing agencies.

(b) Except as otherwise provided in paragraphs (c), (d) and (e) and NRS 540A.265, that portion of the levied taxes each year in excess of the amount set forth in paragraph (a) must be allocated to and when collected must be paid into a special fund of the redevelopment agency to pay the costs of redevelopment and to pay the principal of and interest on loans, money advanced to, or indebtedness, whether funded, refunded, assumed, or otherwise, incurred by the redevelopment agency to finance or refinance, in whole or in part, redevelopment. Unless the total assessed valuation of the taxable property in a redevelopment area exceeds the total assessed value of the taxable property in the redevelopment area as shown by:

(1) The assessment roll last equalized before the effective date of the ordinance approving the redevelopment plan; or

(2) The assessment roll last equalized before the effective date of an ordinance adopted pursuant to subsection 5,

Ê whichever occurs later, less the assessed valuation of any exempt property subtracted pursuant to paragraph (a), all of the taxes levied and collected upon the taxable property in the redevelopment area must be paid into the funds of the respective taxing agencies. When the redevelopment plan is terminated pursuant to the provisions of NRS 279.438 and 279.439 and all loans, advances and indebtedness, if any, and interest thereon, have been paid, all money thereafter received from taxes upon the taxable property in the redevelopment area must be paid into the funds of the respective taxing agencies as taxes on all other property are paid.

(c) That portion of the taxes in excess of the amount set forth in paragraph (a) that is attributable to a tax rate levied by a taxing agency to produce revenues in an amount sufficient to make annual repayments of the principal of, and the interest on, any bonded indebtedness that was approved by the voters of the taxing agency on or after November 5, 1996, must be allocated to and when collected must be paid into the debt service fund of that taxing agency.

(d) That portion of the taxes in excess of the amount set forth in paragraph (a) that is attributable to a new or increased tax rate levied by a taxing agency and was approved by the voters of the taxing agency on or after November 5, 1996, must be allocated to and when collected must be paid into the appropriate fund of the taxing agency.

(e) If an agency has adopted a resolution pursuant to subsection 8, that portion of the taxes in excess of the amount set forth in paragraph (a) that is attributable to a tax rate levied by a taxing agency:

(1) Pursuant to NRS 387.3285 or 387.3287, if that rate was approved by a majority of the registered voters within the area of the taxing agency voting upon the question, must be allocated to, and when collected paid into, the appropriate fund of that taxing agency.

(2) For the support of public schools within a county school district pursuant to NRS 387.195, must be allocated to, and when collected paid into, the appropriate fund of that taxing agency.

2. Except as otherwise provided in subsection 3, in any fiscal year, the total revenue paid to a redevelopment agency must not exceed:

(a) In a county whose population is 100,000 or more or a city whose population is 150,000 or more, an amount equal to the combined tax rates of the taxing agencies for that fiscal year multiplied by 10 percent of the total assessed valuation of the municipality.

(b) In a county whose population is 30,000 or more but less than 100,000 or a city whose population is 25,000 or more but less than 150,000, an amount equal to the combined tax rates of the taxing agencies for that fiscal year multiplied by 15 percent of the total assessed valuation of the municipality.

(c) In a county whose population is less than 30,000 or a city whose population is less than 25,000, an amount equal to the combined tax rates of the taxing agencies for that fiscal year multiplied by 20 percent of the total assessed valuation of the municipality.

Ê If the revenue paid to a redevelopment agency must be limited pursuant to paragraph (a), (b) or (c) and the redevelopment agency has more than one redevelopment area, the redevelopment agency shall determine the allocation to each area. Any revenue which would be allocated to a redevelopment agency but for the provisions of this section must be paid into the funds of the respective taxing agencies.

3. The taxing agencies shall continue to pay to a redevelopment agency any amount which was being paid before July 1, 1987, and in anticipation of which the agency became obligated before July 1, 1987, to repay any bond, loan, money advanced or any other indebtedness, whether funded, refunded, assumed or otherwise incurred.

4. For the purposes of this section, the assessment roll last equalized before the effective date of the ordinance approving the redevelopment plan is the assessment roll in existence on March 15 immediately preceding the effective date of the ordinance.

5. If in any year the assessed value of the taxable property in a redevelopment area located in a city in a county whose population is 700,000 or more as shown by the assessment roll most recently equalized has decreased by 10 percent or more from the assessed value of the taxable property in the redevelopment area as shown by the assessment roll last equalized before the effective date of the ordinance approving the redevelopment plan, the redevelopment agency may adopt an ordinance which provides that the total assessed value of the taxable property in the redevelopment area for the purposes of paragraphs (a) and (b) of subsection 1 is the total assessed value of the taxable property in the redevelopment area as shown by the assessment roll last equalized before the effective date of the ordinance adopted pursuant to this subsection. A redevelopment agency may adopt an ordinance pursuant to this subsection only once, and the election to adopt such an ordinance is irrevocable.

6. An agency which adopts an ordinance pursuant to subsection 5 and which receives revenue pursuant to paragraph (b) of subsection 1 from taxes on the taxable property located in the redevelopment area affected by the ordinance shall set aside 18 percent of that revenue received on and after the effective date of the ordinance to:

(a) Increase, improve, preserve or enhance public educational facilities;

(b) Support public educational activities and programs; or

(c) Increase, improve, preserve or enhance public educational facilities and support public educational activities and programs,

Ê which are located in or within 1 mile of the redevelopment area or which serve pupils who reside in or within 1 mile of the redevelopment area. For each fiscal year, the agency shall prepare a written report concerning the amount of money expended for the purposes set forth in this subsection and shall, on or before November 30 of each year, submit a copy of the report to the Director of the Legislative Counsel Bureau for transmittal to the Legislative Commission, if the report is received during an odd-numbered year, or to the next session of the Legislature, if the report is received during an even-numbered year.

7. The obligation of an agency pursuant to subsection 6 to set aside 18 percent of the revenue allocated to and received by the agency pursuant to paragraph (b) of subsection 1 from taxes on the taxable property located in the redevelopment area affected by the ordinance adopted by the agency pursuant to subsection 5 is subordinate to any existing obligations of the agency. As used in this subsection, “existing obligations” means the principal and interest, when due, on any bonds, notes or other indebtedness whether funded, refunded, assumed or otherwise incurred by an agency before the effective date of an ordinance adopted by the agency pursuant to subsection 5, to finance or refinance in whole or in part, the redevelopment of a redevelopment area. For the purposes of this subsection, obligations incurred by an agency on or after the effective date of an ordinance adopted by the agency pursuant to subsection 5 shall be deemed existing obligations if the net proceeds are used to refinance existing obligations of the agency.

8. An agency may adopt a resolution providing that the portion of the taxes in excess of the amount set forth in paragraph (a) of subsection 1 that is attributable to any tax rate levied by a taxing agency:

(a) Pursuant to NRS 387.3285 or 387.3287, if that rate was approved by a majority of the registered voters within the area of the taxing agency voting upon the question, must be allocated to, and when collected paid into, the appropriate fund of that taxing agency.

(b) For the support of public schools within a county school district pursuant to NRS 387.195, must be allocated to, and when collected paid into, the appropriate fund of that taxing agency.

(Added to NRS by 1959, 671; A 1981, 315, 763, 764; 1983, 493; 1987, 1684; 1989, 1105, 1747; 1991, 1044; 1993, 258; 1995, 1460; 1997, 1339, 2559, 2571; 2003, 528; 2003, 20th Special Session, 288; 2011, 1204; 2013, 799; 2015, 3141; 2017, 660; 2019, 1405)

NRS 279.678 Assessment and taxation of leased redeveloped property; provision in lease for lessee to pay taxes. Whenever property in any redevelopment project has been redeveloped and thereafter is leased by the redevelopment agency to any person or persons or whenever the agency leases real property in any redevelopment project to any person or persons for redevelopment, the property shall be assessed and taxed in the same manner as privately owned property, and the lease or contract shall provide that the lessee shall pay taxes upon the assessed value of the entire property and not merely upon the assessed value of the lessee’s leasehold interest.

(Added to NRS by 1959, 672)

NRS 279.680 Pledging portion of taxes for payment of principal and interest on loans, advances or indebtedness. Except as otherwise provided in subsection 6 of NRS 279.676 and NRS 279.685 and 279.6855, in any redevelopment plan, or in the proceedings for the advance of money, or the making of loans, or the incurring of any indebtedness, whether funded, refunded, assumed or otherwise, by the redevelopment agency to finance or refinance, in whole or in part, the redevelopment project, the portion of taxes mentioned in paragraph (b) of subsection 1 of NRS 279.676 may be irrevocably pledged for the payment of the principal of and interest on those loans, advances or indebtedness.

(Added to NRS by 1959, 672; A 1981, 765; 1999, 3614; 2015, 3144)

NRS 279.683 Faith of State pledged not to impair securities. The faith of the State is hereby pledged that this chapter, any law supplemental or otherwise pertaining thereto, and any other act concerning the bonds or other securities, taxes or the pledged revenues, or any combination of such securities, such taxes and such revenues will not be repealed or amended or otherwise directly or indirectly modified in such a manner as to impair adversely any outstanding bonds or securities until all such bonds and securities have been discharged in full or provision for their payment and redemption has been made fully, including, without limitation, the known minimum yield from the investment or reinvestment of money pledged therefor in federal securities.

(Added to NRS by 1999, 1090)

NRS 279.685 Certain cities to set aside revenue for affordable housing and public educational activities, programs and facilities; limitations; uses.

1. Except as otherwise provided in this section or subsections 6 and 7 of NRS 279.676, an agency of a city whose population is 500,000 or more that receives revenue from taxes pursuant to paragraph (b) of subsection 1 of NRS 279.676 shall set aside:

(a) Not less than 15 percent of that revenue received on or before October 1, 1999, and 18 percent of that revenue received after October 1, 1999, but before October 1, 2011, to increase, improve and preserve the amount of affordable housing in the community;

(b) Not less than 18 percent of that revenue received on or after October 1, 2011, but before July 1, 2017, to:

(1) Increase, improve, preserve or enhance the operating viability of affordable housing in the community; and

(2) Improve existing public educational facilities located within a redevelopment area or within 1 mile of a redevelopment area; and

(c) Eighteen percent of that revenue received on or after July 1, 2017, but before March 6, 2031, to increase, improve, preserve or enhance the operating viability of affordable housing in the community and:

(1) Increase, improve, preserve or enhance public educational facilities;

(2) Support public educational activities and programs; or

(3) Increase, improve, preserve or enhance public educational facilities and support public educational activities and programs,

Ê which are located in or within 1 mile of a redevelopment area or which serve pupils who reside in or within 1 mile of a redevelopment area; and

(d) Eighteen percent of that revenue received on or after March 6, 2031, to:

(1) Increase, improve, preserve or enhance public educational facilities;

(2) Support public educational activities and programs; or

(3) Increase, improve, preserve or enhance public educational facilities and support public educational activities and programs,

Ê described in paragraph (c).

2. For each fiscal year, the agency shall prepare a written report concerning the amount of money expended for the purposes set forth in paragraph (b), (c) or (d) of subsection 1, as applicable, and shall, on or before November 30 of each year, submit a copy of the report to the Director of the Legislative Counsel Bureau for transmittal to the Legislative Commission, if the report is received during an odd-numbered year, or to the next session of the Legislature, if the report is received during an even-numbered year.

3. The obligation of an agency to set aside not less than 15 percent of the revenue from taxes allocated to and received by the agency pursuant to paragraph (b) of subsection 1 of NRS 279.676 is subordinate to any existing obligations of the agency. As used in this subsection, “existing obligations” means the principal and interest, when due, on any bonds, notes or other indebtedness whether funded, refunded, assumed or otherwise incurred by the agency before July 1, 1993, to finance or refinance in whole or in part, the redevelopment of a redevelopment area. For the purposes of this subsection, obligations incurred by an agency after July 1, 1993, shall be deemed existing obligations if the net proceeds are used to refinance existing obligations of the agency.

4. The obligation of an agency to set aside an additional 3 percent of the revenue from taxes allocated to and received by the agency pursuant to paragraph (b) of subsection 1 of NRS 279.676 is subordinate to any existing obligations of the agency. As used in this subsection, “existing obligations” means the principal and interest, when due, on any bonds, notes or other indebtedness whether funded, refunded, assumed or otherwise incurred by the agency before October 1, 1999, to finance or refinance in whole or in part, the redevelopment of a redevelopment area. For the purposes of this subsection, obligations incurred by an agency after October 1, 1999, shall be deemed existing obligations if the net proceeds are used to refinance existing obligations of the agency.

5. From the revenue set aside by an agency pursuant to paragraph (b) or (c) of subsection 1, not more than 50 percent of that amount may be used to:

(a) Increase, improve, preserve or enhance the operating viability of affordable housing in the community; or

(b) Increase, improve, preserve or enhance public educational facilities, support public educational activities and programs or increase, improve, preserve or enhance public educational facilities and support public educational activities and programs which are located in or within 1 mile of a redevelopment area or which serve pupils who reside in or within 1 mile of a redevelopment area,

Ê unless the agency establishes that such an amount is insufficient to pay the cost of a project identified in the redevelopment plan for the redevelopment area.

6. Except as otherwise provided in paragraphs (b), (c) and (d) of subsection 1 and subsection 5, the agency may expend or otherwise commit money for the purposes of subsection 1 outside the boundaries of the redevelopment area.

(Added to NRS by 1993, 1328; A 1999, 3615; 2001, 1972; 2011, 1205, 3747; 2013, 802, 2276; 2017, 662; 2019, 1411)

NRS 279.6855 Certain cities to set aside revenue for public educational activities, programs and facilities; limitations.

1. Except as otherwise provided in this section, an agency of a city whose population is 220,000 or more but less than 500,000 that adopts an ordinance pursuant to paragraph (a) of subsection 1 of NRS 279.438 or subsection 4 of NRS 279.439 and which receives revenue pursuant to paragraph (b) of subsection 1 of NRS 279.676 from taxes on the taxable property located in the redevelopment area affected by the ordinance shall set aside 18 percent of such revenue received on or after the effective date of the ordinance to:

(a) Increase, improve, preserve or enhance public educational facilities;

(b) Support public educational activities and programs; or

(c) Increase, improve, preserve or enhance public educational facilities and support public educational activities and programs,

Ê which are located in or within 1 mile of the redevelopment area or which serve pupils who reside in or within 1 mile of the redevelopment area. The provisions of this subsection do not apply if such an agency is required pursuant to subsection 6 of NRS 279.676 to set aside 18 percent of revenue received pursuant to paragraph (b) of subsection 1 of NRS 279.676 from taxes on the taxable property located in the redevelopment area affected by the ordinance adopted by the agency pursuant to subsection 5 of NRS 279.676 on or after the effective date of that ordinance to increase, improve, preserve or enhance public educational facilities, support public educational activities and programs or increase, improve, preserve or enhance public educational activities and support public educational activities and programs which are located in or within 1 mile of the redevelopment area or which serve pupils who reside in or within 1 mile of the redevelopment area. For each fiscal year, the agency shall prepare a written report concerning the amount of money expended for the purposes set forth in this subsection and shall, on or before November 30 of each year, submit a copy of the report to the Director of the Legislative Counsel Bureau for transmittal to the Legislative Commission, if the report is received during an odd-numbered year, or to the next session of the Legislature, if the report is received during an even-numbered year.

2. The obligation of an agency pursuant to subsection 1 to set aside 18 percent of the revenue allocated to and received by the agency pursuant to paragraph (b) of subsection 1 of NRS 279.676 from taxes on the taxable property located in the redevelopment area affected by the ordinance adopted by the agency pursuant to paragraph (a) of subsection 1 of NRS 279.438 or subsection 4 of NRS 279.439 is subordinate to any existing obligations of the agency. As used in this subsection, “existing obligations” means the principal and interest, when due, on any bonds, notes or other indebtedness whether funded, refunded, assumed or otherwise incurred by the agency before the effective date of the ordinance adopted by the agency pursuant to paragraph (a) of subsection 1 of NRS 279.438 or subsection 4 of NRS 279.439, to finance or refinance in whole or in part, the redevelopment of a redevelopment area. For the purposes of this subsection, obligations incurred by an agency on or after the effective date of the ordinance adopted by the agency pursuant to paragraph (a) of subsection 1 of NRS 279.438 or subsection 4 of NRS 279.439 shall be deemed existing obligations if the net proceeds are used to refinance existing obligations of the agency.

(Added to NRS by 2015, 3140; A 2017, 664, 3421)

NRS 279.687 Limitations on use of money set aside for public educational activities, programs and facilities. A school district shall not use any money received pursuant to subsection 6 of NRS 279.676, paragraph (b), (c) or (d) of subsection 1 of NRS 279.685 or NRS 279.6855 to reduce or supplant the amount of any money which the school district would otherwise expend for the purposes described in those provisions.

(Added to NRS by 2013, 2273; A 2015, 3144; 2017, 665)

LOANS TO SMALL BUSINESSES

NRS 279.700 “Small business” defined. As used in NRS 279.700 to 279.730, inclusive, “small business” means a business that employs not more than 25 persons.

(Added to NRS by 2013, 796)

NRS 279.710 Revolving loan account: Creation; investment; credit of interest and income; deposit of money; payment of claims; acceptance of gifts and grants.

1. Each legislative body shall create a revolving loan account in the treasury of the community. The account must be administered by the agency.

2. The money in a revolving loan account created pursuant to this section must be invested as money in other accounts in the treasury of the community is invested. All interest and income earned on the money in a revolving loan account must be credited to the account. Any money remaining in a revolving loan account at the end of a fiscal year does not revert to the general fund of the community, and the balance in the account must be carried forward.

3. All payments of principal and interest on loans made to a small business from a revolving loan account must be deposited with the treasurer of the community for credit to the account.

4. Claims against a revolving loan account must be paid as other claims against the agency are paid.

5. An agency may accept gifts, grants, bequests and donations from any source for deposit in the revolving loan account.

(Added to NRS by 2013, 796)

NRS 279.720 Revolving loan account: Authorized uses of money in account; limitation.

1. After deducting the costs directly related to administering a revolving loan account created pursuant to NRS 279.710, an agency may use the money in the account, including repayments of principal and interest on loans made from the account, and interest and income earned on money in the account, only to make loans at or below market rate to small businesses located within the redevelopment area or persons wishing to locate or relocate a new small business in the redevelopment area for the costs incurred:

(a) In expanding or improving an existing small business, including, without limitation, costs incurred for remodeling; or

(b) In locating or relocating a small business in the redevelopment area.

2. The term of any loan that may be made from the revolving loan account must be 5 years or less.

(Added to NRS by 2013, 796)

NRS 279.730 Application for loan; requirements of contract for loan; regulations.

1. A small business located in a redevelopment area or a person who wishes to locate or relocate a new small business in a redevelopment area may submit an application to the agency for a loan from the revolving loan account created pursuant to NRS 279.710. An application must include a written description of the manner in which the loan will be used.

2. An agency shall, within the limits of money available for use in the revolving loan account, make loans to small businesses and persons whose applications have been approved. If an agency makes a loan from the revolving loan account, the agency shall ensure that the contract for the loan includes all terms and conditions for repayment of the loan.

3. Each agency:

(a) Shall adopt regulations that prescribe:

(1) The process by which a small business may submit to the agency an application for a loan from the revolving loan account;

(2) The criteria for eligibility for a loan from the revolving loan account;

(3) The contents of an application for a loan from the revolving loan account, which must include, without limitation:

(I) A description of the business history of the applicant;

(II) A description of the income history of the applicant;

(III) A copy of the business plan of the applicant;

(IV) A description of the contributions of the applicant to the revitalization of the redevelopment area; and

(V) A statement of whether any money from the loan will be used by the applicant to maintain or create any jobs;

(4) The maximum amount of a loan which may be made from the revolving loan account;

(5) The rate of interest for loans made from the revolving loan account; and

(6) The collateral and security interest that a small business is required to provide as security for the loan, which must be an amount sufficient to allow the agency to recoup the amount of the loan made to a small business if the small business defaults on the loan.

(b) May adopt such other regulations as it deems necessary to carry out the provisions of NRS 279.700 to 279.730, inclusive.

(Added to NRS by 2013, 797)