"Project" means a housing facility for residential use which consists of two or more dwelling units for occupancy by eligible tenants on a rental basis. The term includes property to be leased, purchased or developed for sites for multifamily housing and upon which the Division takes a security interest and records a regulatory agreement, whether the Division issues bonds or a mortgage loan for the lease, purchase or development of the multifamily housing.
Nev. Admin. Code § 319.670
NRS 319.140