LAS VEGAS – Mark Fiorentino and Tony Celeste successfully represented Beazer Homes Holding Corp. securing development approvals from the Nye County Board of County Commissioners. At its November 14, 2016 hearing, the Board of County Commissioners approved a development agreement between Nye County and Beazer allowing Beazer to continue with the development of a 586 single-family residential development in Pahrump. The development was previously approved under a development agreement with Nye County in 2005, however, due to the economic downturn, the development stalled. The original development agreement ultimately expired in 2015.
After five months of renegotiations with the Nye County planning, public works, fire, and sheriff departments as well as the Nye County district attorney’s office relating to off-site improvements, impact fees and contributions; Mr. Fiorentino and Mr. Celeste secured approval of the new development agreement. Upon completion of the project, Nye County can expect to receive approximately one million dollars in new tax revenue.
The Nye County Board of County Commissioners also approved a Subdivision Improvement, Maintenance and Warranty Agreement (SIA). With the approval of the SIA, Mr. Fiorentino and Mr. Celeste were successful in reducing Beazer’s performance bond that secures the development off-site improvements from the original amount of approximately $19.1 million to approximately $4.8 million.
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