RENO, Nev. (KOLO) -- The 1,000 Homes in 120 Days is taking the next step as the city signs the agreements with developers.
The City of Reno says the council has already approved 12 projects as part of the program during the January 2020 meeting, and they could approve another six during its February 26, 2020 meeting.
The program is designed to get new apartments and condos closer to construction in the downtown area and some of the fees will be postponed.
The city Revitalization Manager, Aric Jensen, says in total, 4,500 units have applied.
"In the beginning, we did not know how many we would get,” said Jensen. “We were hoping to get a thousand and what we found was there were a lot of developers that want to build in Reno. The challenge is the cost. The cost of the land, the cost of the development and even the cost of application fees."
Once the agreement is signed, the developer has 18 months to start construction. If they don't, then Jensen says the agreement will be cancelled.
After the project is complete, then the developer can start paying the fees to the city.
The city council meeting will begin at 10:00 a.m. at the Reno City Hall.
Copyright KOLO-TV 2020