1000 Homes in 120 Days

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Status Update

The 1000 Homes in 120 Days application period ended on January 30, 2020.  No new applications are being accepted, and no extension is proposed. A final list of all applications will be posted on this website as soon as they have been reviewed for completeness.

Background

On October 2, 2019, the Reno City Council adopted a Resolution enacting the “1,000 Homes in 120 Days” initiative, a new City of Reno pilot program to incentivize the rapid development of new housing units.
 

On January 22, 2020, the City Council approved the standard fee deferral agreement and directed staff to administratively enter into agreements with those applicants who requested only fee deferrals and agreed to the terms in the standard agreement. Those applicants are highlighted in green on the Applicant List submitted to Council. Council also directed staff to return at a future date with personalized fee deferral agreements for projects that require terms that differ from the standard agreement. Staff anticipates presenting the personalized agreements to Council on February 26th, 2020. The most current copy of the staff report and materials can be downloaded at:

1000 Homes staff report to Council 22Jan20

Staff report supporting materials 22Jan20

Program Details

  • This is a time and resource constrained program
  • The program allows for the deferral of sewer connection and traffic impact permit fees to accelerate the construction of up to 1,000 townhouse, apartment, or condominium units on property located within a designated Opportunity Zone in the City of Reno (see map below).
  • These deferrals will be encumbered as a “loan” against the project, which must be repaid according to a schedule negotiated between the developer and the City.
  • It is estimated that an applicant could a receive a maximum fee deferral of $8,400 per residential unit.

Minimum Qualifications

  • Projects must be a minimum of 30 dwelling units in size.
  • The developer must demonstrate control of the land on which the project is proposed at the time of application.
  • The applicant must have successfully completed the construction of at least one multi-family project valued at $10 million or more.
  • The applicant most provide evidence of the financial viability of the proposed project.
  • Proposals to use the program must be submitted within 120 days of the establishment of this program (Deadline, 5 pm on Jan 30, 2020); However, this is a "first-come, first-serve" opportunity, and the City Council is scheduled to start reviewing applications on Dec 11, 2019, and may allocate all units/deferrals prior to the Jan 30th deadline.
  • Projects must start construction within 18 months of execution of the deferral agreement.

How to Apply

The application period for this program expires on January 30, 2020. Please contact Aric Jensen, City Revitalization Manager, at jensena@reno.gov or 775-321-8302 for a pre-application consultation and for additional information.

Map

You can download a static PDF version of the Opportunity Zone Map (3.2 MB), or you can view our interactive Community Development GIS Map to view Opportunity Zones in Reno. Within the map, be sure to select Layers > Reno Special Districts and Areas > and select “Opportunity Zones in Reno.”