According to RGJ.com:
With its January deadline looming, applications for Reno’s “1,000 Homes in 120 Days” initiative have exceeded the initial goal, according to the city.
The city of Reno has received more than a dozen applications for housing developments under the program so far. The number of housing units proposed by the applicants total more than 1,600. The program’s goal is to add 1,000 townhouse, apartment or condominium units within designated opportunity zones.
“We know housing is the leading challenge in our city,” Mayor Hillary Schieve said in a statement. “Our staff created this bold plan that helps speed up new housing, but also makes sure the city gets every dime it’s owed.”
The program was first announced in September. It was approved by the Reno City Council in October.
The “1,000 Homes in 120 Days” initiative aims to spur housing development by deferring development costs such as sewer connection and traffic impact fees for projects approved under the program. Developers who apply within the 120-day period can defer up to $8,400 worth of fees per unit, which will then have to be paid at a later date. Projects must start construction within 18 months.
Reno council members are scheduled to receive an update about the program on Wednesday, Dec. 11 during the city council meeting.