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District says RTG Investment project could be large but developer communication has stalled
Summary
Adviser says RTG Investment's proposed site between Highway 14 and Sierra Highway may be 700–1,000+ acres with 200–400 single-family units, but the developer has not provided required details and is several years behind its timeline.
At the Facilities & Finance subcommittee meeting on Dec. 8, Rachel Chenkway, the district's municipal adviser, outlined what the district knows about a proposed RTG Investment housing project: "We understand that this project is being developed by RTG Investment... We have seen documents... presenting that this 700 to over 1000 acre of land to be developed," and that development materials have cited "200 some to over 400 single family residential units to be developed."
Chenkway said the district received a $50,000 CFD formation deposit from RTG in 2021 but has repeatedly requested key details—product mix, square footage, and base home prices—needed to model a CFD special-tax rate and complete legal documents. She told the committee the developer’s schedule is about three years behind the timeline RTG shared in 2021 and that Filament (the adviser's firm) has not received substantive responses since a September 2022 follow-up. The adviser said staff will continue outreach and recommended the board be prepared to negotiate CFD terms when the developer reengages.
