RENO, Nev. (KOLO) -- The goal was to find 1,000 homes in 120 days, but the City of Reno says they have doubled that number.
The purpose of the ‘1,000 Homes in 120 Days’ initiative is to get new apartments and condos closer to construction in the downtown area.
The city says the 24 projects could bring a total of 2,038 apartments, condo's and townhomes to the area.
The way the city got these developers to start thinking about construction sooner rather than later, is by offering to postpone their building and sewer fees, until after the construction is complete.
"To come up with new ideas and new projects, we wouldn't see this five years down the road,” said Aric Jensen, City of Reno Revitalization Manager. “This program was designed to encourage development that might have already been occurring or people were thinking about doing, but weren't thinking about doing it for three or four years to start construction now."
After the agreement is signed, the developer must start construction within 18 months. But the Reno City Council must look at the agreement first, before the developer signs it.
The council must approve the agreement and that will be discussed January 22, 2020 at 10 A.M.
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