261 NAC 3-005. TERMINATION OF PROJECT FUNDING

005. TERMINATION OF PROJECT FUNDING. The contract end date for project funding for Large Projects will not exceed ten (10) years and for Small Projects will not exceed five (5) years, unless initially approved for a longer period. If a project will not be completed prior to the end of ten (10) years for Large Projects and five (5) years for Small Projects, the sponsor may request an extension of time to complete the project, provided the request is brought before the Commission and placed on the Commission's agenda during a regularly scheduled meeting no later than twelve (12) months prior to the project end date. The Commission shall consider the amount of work remaining, reasons for the project's failure to be timely completed, and the likelihood that the project will be completed given the additional time requested. If the sponsor is not granted an extension of time, the contract will be terminated and no further reimbursements for work done after the termination date will be made.