Strategic Scope of Services Provided by Cullina Management

Entitlement Leadership & Zoning Approvals

Secured a Non‑Conforming Zone Change enabling up to 240 residential lots, transforming a former ranch into a high‑yield development opportunity.

• Managed all entitlement components, including PUD clustering strategies to maximize open space and amenity integration.
  
• Prepared and advanced the Tentative Map process immediately following NZC approval, keeping the project on a fast‑track schedule.
  
• Coordinated with the Civil Engineering team to initiate the Tentative Map process for the 240 lots completed within the approved project schedule.
  

Regulatory Navigation & Federal/State Coordination

Directed civil and environmental engineers to evaluate Waters of the U.S. impacts and minimize disturbance to avoid or streamline the Army Corps of Engineers 404 permit process.

• Calculated the disturbance area to assess if the total is less than a tenth of an acre… thereby avoiding a U.S. Army Corps of Engineers 404 permit process related to the Muddy River within the property boundaries.
  
• Oversaw bridge design adjustments to prevent pier encroachment into jurisdictional waters, reducing regulatory exposure.
  

Transportation & Rail Coordination

Led negotiations with Union Pacific Railroad (UPRR) and the Nevada Public Utilities Commission (PUC) to resolve rail‑crossing issues at Whipple Road.

• Met with representatives from the Nevada Public Utilities Commissio to familiarize them with the public railroad crossing at the future main entrance of the development.
• Structured a plan to abandon two private crossings and relocate one crossing to improve site access and meet UPRR requirements.
  

Local Political Strategy & Community Support

Built strong local goodwill through community engagement, including sponsorship of the Clark County Fair’s livestock auction.

• The process has helped to gain local support for the development.
• Ensured the project was positioned favorably before the Clark County Supervisors, resulting in unanimous approval of the NCZ.
  

Owner’s Representation & Investor Protection

• Provided Morgan Stanley with transparent reporting, entitlement risk assessments, and schedule/budget oversight.
  

How Entitlements Created Significant Value for Morgan Stanley

1. Transforming a 120‑Acre Ranch Into a High‑Yield Development Asset

The NZC approval unlocked the ability to develop 240 clustered lots, dramatically increasing land value and future exit potential.



2. Reducing Regulatory Risk and Approval Timelines

By minimizing Waters of the U.S. disturbance and coordinating early with UPRR and PUC, Cullina Management reduced permitting uncertainty and protected investor capital.

3. Strengthening Political Support in Moapa Valley

Local goodwill and strategic engagement ensured a smooth path through the Clark County Supervisors—critical for rural Nevada entitlement success.

4. Delivering a Fully Entitled, Development‑Ready Property

With zoning, PUD clustering, and Tentative Map preparation, Morgan Stanley gained a shovel‑ready asset with clear development pathways and reduced risk.