Churchill County commissioners approved multiple land and infrastructure actions intended to unlock housing development north and west of Fallon: a settlement and dedication agreement with River Homes in Fallon LLC and a package of agreements with Vertex Fund 3 LLC that include a sale, easements and the final subdivision map for the Riverstone/Vertex project.

Settlement with River Homes

County counsel and staff presented a settlement that resolves disputes stemming from a 2005 planned-unit development (PUD) whose approvals lapsed after the 2008 downturn and later extensions. Under the settlement River Homes dedicated roughly 10 acres along the river corridor to the county and the county agreed to count those 10 acres in density calculations for the remaining property. The remaining parcel discussed at the meeting is roughly 155 acres (the parties will use a 165-acre figure for density calculations per the agreement). The county will receive an easement across the River Homes property — described in staff materials as an 80-foot easement — intended to accommodate the planned bridge landing for the Moody-to-Rice connector road and to support utility routing.

The settlement frames future zoning as a conventional R-3 zone rather than a time-limited PUD. The agreement commits the applicant to submit a rezoning application within six months; the rezoning will follow the county’s standard review process and is not guaranteed. If the board or planning commission later denies the requested zoning, the settlement would terminate.

River Homes will also receive limited relief on fees tied to connections; staff said the fee abatement package is expected to be about $125,000 spread over five years and applies only to this development and to connections made during the abatement period. The agreement also resolves any outstanding inverse-condemnation claims related to the right-of-way needed for the connector road.

Vertex Fund 3 LLC, the Riverstone/Vertex property and final map

The board also approved an amended real-estate purchase-and-sale agreement with Vertex Fund 3 LLC and related easements. The county will sell two parcels to Vertex (identified at the meeting as 26.21 acres and 5.2 acres) for $600,000. As part of the amended agreement Vertex granted the county off-site utility easements and the county retained a reservation of easement to ensure the county may build the connector road from Coleman Road to the proposed bridge landing if Vertex does not. Vertex also granted an on-site access and utility easement to the county.

In exchange, the county agreed to a one-time credit of up to $200,000 against impact and hookup fees for vertical construction on that property. County staff described the credit as applying to the property and not transferable to other projects. The county and Vertex removed a prior water-rate guarantee provision; Vertex will obtain water at standard county rates when and if development proceeds.

The board approved the final subdivision map for the Riverstone Apartments (the Vertex/award map) after staff confirmed outstanding items from the tentative map had been addressed in the final map and improvement plans. Staff said the final map is recordable only after Vertex satisfies standard county code conditions (water dedication, bonding requirements and outstanding agency signatures). County staff noted the final map may be recorded any time within four years of the earlier tentative map date (county staff referenced March 2023 as the tentative map processing date, making the recordation window through March 2027).

Public comment and developer remarks

River Homes attorney Harvey Woodabore thanked staff and commissioners and said the negotiated terms are fair and should encourage development in the northwest quadrant. "We think we have a good product that is both fair for the applicant in terms of, and the owner in terms of a process that gets us where we need to go," Woodabore said.

Steven Tuck, a representative of Vertex Fund 3, told the board Vertex has spent money and taken risk to bring the project forward and said financing underwriters will not engage until the final map is approved. "We felt like we were at the 1 yard line, and now we're here," Tuck said. He urged the board to approve the map so the project can proceed toward housing production.

Votes and implementation

The board approved the River Homes settlement and dedication agreement, the amended purchase-and-sale agreement with Vertex Fund 3 LLC (for $600,000), the related access and utility easements, and the final subdivision map for Riverstone Apartments. Staff will record deeds and easements and will monitor that Vertex meets county-code conditions before the map is recorded. The $200,000 credit will remain attached to the property and revert to the county if not used under the agreement’s terms.

Ending

County staff characterized the package of approvals as clearing legal and physical obstacles to multiple housing projects and opening the county’s ability to build a connector road and loop utilities into the area. Developers and county staff said the approvals improve the projects’ financing and implementation prospects; the projects still must meet recording conditions, permitting and market/financing tests before construction begins.