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Commissioners decline further extensions for Vertex Fund 3 apartment project
Summary
After a lengthy presentation on engineering, agency delays and contract terms, the board voted to deny any further extension of the purchase-and-sale agreement with Vertex Fund 3, which proposed a 420-unit apartment project.
The Churchill County Board of Commissioners voted to deny any further extension of the purchase-and-sale agreement with Vertex Fund 3, LLC, ending the developer’s remaining extension rights after months of review and a contested amendment proposal.
Vertex representatives described a large residential plan they said would add as many as 420 housing units and told the board the developer has spent more than $1.8 million on project work, including title and feasibility analyses, rezoning, a tentative map and a grading plan. Attorney Garrett Gordon and managing member Stephen Tuck presented proposed amendment language that would have set a new entitlement deadline and provided protections for both…
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