1. In the operation or management of housing projects, an authority shall at all times observe the following duties with respect to rentals and tenant admissions:
(a) It may rent or lease the dwelling accommodations therein only to persons of low income and, as among low-income persons who are eligible applicants for occupancy in dwellings of given sizes and at specified rents, shall extend preferences in the selection of tenants as may be required by the Federal Government pursuant to federal law or in any contract for financial assistance with the authority.
(b) It may rent or lease to a tenant dwelling accommodations consisting of a number of rooms, but no greater number, which it deems necessary to provide safe and sanitary accommodations to the proposed occupants thereof, without overcrowding.
(c) In computing the rental for the purpose of admitting tenants, there must be included in the rental the average annual cost, as determined by the authority, to occupants of heat, water, electricity, gas, cooking fuel and other necessary services or facilities, whether or not the charge for such services and facilities is included in the rental.
2. The requirements of this section do not apply to a housing project developed, operated or managed by a business entity created pursuant to NRS 315.7821.