To carry out a community development program, a city may provide payments for:
1. Loss of rental income by housing owners where the loss results from temporarily holding real property used to relocate individuals and families displaced by the community development program.
2. The nonfederal share required in connection with a federal grant-in-aid program undertaken as part of the community development program.
3. Completion and financial settlement of a project funded under the federal Housing Act of 1949 (P.L. 81-171, July 15, 1949).
4. Relocation of and assistance to individuals, families, businesses, organizations and farm operations displaced as the result of activities conducted under the community development program, including benefits at least equal to the minimum levels established in regulations adopted by the Director of the Department of Transportation pursuant to NRS 342.105.
(Added to NRS by 1975, 287; A 1989, 636)