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Council approves 21-unit Passmore Place senior housing PILOT agreement
Summary
Nevada Rural Housing’s Passmore Place, a 21-unit senior affordable housing project with a roughly $9.9 million budget, received Council approval for a voluntary PILOT of $2,200 annually ($100 per unit) for 17 years; the developer agreed to contract clarifications requested by the mayor and staff.
The Carlin City Council unanimously approved a payment-in-lieu-of-taxes (PILOT) agreement for Passmore Place, a 21-unit senior affordable housing development proposed by Nevada Rural Housing, during its Feb. 25 meeting.
Beth Dunning of Nevada Rural Housing told the council the project seeks a March 31 financing closing and an April construction start. She said the total project budget is about $9.9 million, with roughly $6.8 million in hard construction costs. Because affordable low-income properties are automatically eligible for property-tax exemptions, Nevada Rural Housing proposed a voluntary PILOT of $2,200 per year ($100 per unit) for 17 years to provide a contribution to the host community.
Mayor Cameron Kinney described negotiated changes to the draft PILOT agreement — including explicit confirmation that emergency police and fire services would not be denied, an automatic five-year renewal structure with termination notice, corrected statutory and court citations, simplified confidentiality language and other clarifications — and said Nevada Rural Housing accepted those edits. Dunning said the developer expected strong demand and already had calls for a waiting list.
Councilperson Joel Nalley moved to approve the PILOT agreement as amended; Councilperson Lyndsie Whigham seconded and the council voted unanimously. The mayor said he was excited to see construction begin in April.
The transcript does not list specific subsidy sources, investor partners or additional tax-exemption mechanics beyond the voluntary PILOT; those details will be resolved in final financing documents prior to closing.
