If at any time the number of pending applications from qualified applicants for the rehabilitation of abandoned residential property exceeds the number of abandoned properties available for rehabilitation, the governing body shall give preference to:

1. 1. Applicants who are members of households having a gross income that is 50 percent or less of the median gross income for households of the same size within the same geographic area; and
2. 2. Applicants that are organizations which serve natural persons described in subsection 1.

(Added to NRS by 1989, 191; A 2005, 1306)