1. A governing body may establish, independently or in conjunction with another governing body, an analysis of the cost to construct infrastructure in an area which is undeveloped land and which is likely to become developed. 2. The analysis of the cost to construct infrastructure in an area that is undeveloped land must include, without limitation: (a) A precise description of the area, either in the form of a legal description or by reference to roadways, lakes and waterways, railroads or similar landmarks, and township, county or city boundaries; (b) An estimate of the expected total population of the area when the land becomes fully developed; (c) An assessment of the infrastructure that will be necessary to support the area when it becomes fully developed according to the master plan adopted by the governing body pursuant to NRS 278.220 ; and (d) A plan for the development of the infrastructure which includes, without limitation: (1) Any minimum requirements for the development of infrastructure that have been determined by the regional planning coalition; (2) A plan to meet the anticipated needs of the area for police and fire protection, parks, roads, regional transportation and flood control facilities when the land becomes fully developed; (3) An estimate of the date on which each phase of the development will occur; (4) The manner in which the plan for the development of the infrastructure will be implemented; and (5) An economic analysis of the cost to plan and develop fully the infrastructure for the area. 3. The governing body may, if it finds that the analysis of the projected need for infrastructure is consistent with the master plan, approve the analysis by ordinance.
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