2023 Nevada Revised Statutes › Chapter 231 - Economic Development, Tourism and Cultural Affairs › NRS 231.3725 - Application for certificate of eligibility; required documentation; contents of application.

1. On behalf of a project, the lead participant in the project may apply to the Office for a certificate of eligibility for matching funds of up to $100,000,000 to be used exclusively for the acquisition, construction, installation and equipping of a qualified project.
2. For a project to be eligible for the matching funds described in subsection 1, the lead participant of the project must, on behalf of the project:
(a) Submit an application that meets the requirements of subsection 3;
(b) Provide documentation satisfactory to the Office that approval of the application would:
(1) Facilitate the economic development of this State;
(2) Aid the implementation of the State Plan for Economic Development developed by the Executive Director pursuant to subsection 2 of NRS 231.053; and
(3) Increase the workforce in this State by helping those persons experiencing homelessness or at risk of becoming homeless to transition from experiencing homelessness or being at risk of homelessness to being economically self-sufficient.
3. An application submitted pursuant to subsection 2 must include:
(a) Documentation satisfactory to the Office that the project meets all of the requirements of a qualified project described in NRS 231.3727;
(b) A detailed business plan containing an outline of services to be provided by the project, capital construction financing, operational revenues and expenditures, governance structure, the core operating team and a plan for capital maintenance;
(c) The total cost of the project, which shall not be less than $150,000,000;
(d) Documentation satisfactory to the Office that the qualified project is reasonably expected to:
(1) Increase the workforce in this State by promoting greater opportunities for economic self-sufficiency;
(2) Improve the mental and physical well-being of persons at risk of becoming homeless;
(3) Reduce the incidence of homelessness in areas of acute risk and impact;
(4) Decrease long-term reliance on social services and public assistance programs;
(5) Increase the opportunity for services integration and collaboration; and
(6) Reduce criminal activity and recidivism and increase the share of the population with employable job skills;
(e) A summary of the relationship between and roles and responsibilities of the lead participant and the other participants in the project;
(f) A detailed description of the location or locations of the project, including, without limitation, a precise description of the geographic boundaries of the project site or sites;
(g) The name and business address of each participant in the project, which must be an address in this State;
(h) A detailed description of the plan by which the lead participant and the other participants in the project intend to comply with the requirement that the participants collectively make a total capital investment not less than $75,000,000 in the 5-year period immediately following approval of the application;
(i) Documentation satisfactory to the Office that the lead participant has the financial ability and operational expertise to effectively develop and operate the project;
(j) Documentation satisfactory to the Office that the participants in the project are engaged in a common purpose or business endeavor;
(k) Documentation satisfactory to the Office that the place of business of each participant is or will be located within the geographic boundaries of the project site or sites;
(l) Documentation satisfactory to the Office that each participant in the project is registered pursuant to the laws of this State or commits to obtaining a valid business license and all other permits required by the county, city or town in which the project operates;
(m) Documentation satisfactory to the Office of the number of employees engaged or anticipated to be engaged in the construction of the project;
(n) Documentation satisfactory to the Office of the number of qualified employees employed or anticipated to be employed at the project by the participants;
(o) Documentation satisfactory to the Office of the number of individuals expected to be served by the project;
(p) Documentation satisfactory to the Office that each employer engaged in the construction of the project provides a plan of health insurance and that each employee engaged in the construction of the project is offered coverage under the plan of health insurance provided by his or her employer;
(q) Documentation satisfactory to the Office that at least 50 percent of the employees engaged or anticipated to be engaged in construction of the project and 50 percent of the employees employed at the project are residents of Nevada, unless waived by the Executive Director of the Office upon proof satisfactory to the Executive Director of the Office that there is an insufficient number of residents of Nevada available and qualified for such employment;
(r) An agreement to provide the Office with a compliance report for the project at the end of each calendar quarter during construction and at the end of each fiscal year during all the years of operations, which:
(1) Provides the amount of money invested in the project;
(2) Provides the number of employees engaged in the construction of the project;
(3) Provides the number of employees employed at the project;
(4) Provides the total number of persons served by the project, including, without limitation, the number of persons placed in permanent housing and verifiable employment; and
(5) Meets any other requirements prescribed by the Office; and
(s) Any other information deemed necessary and appropriate by the Executive Director.
(Added to NRS by 2023, 3125)