- Looks like Sparks wants to use an out-of-state entity from Kansas City and Obama's stimulus money to build an indoor arena as part of the Legends project.
- Sierra Spirit - This goes before the Redevelopment Agency Board today, and they have a choice: To keep Sierra Spirit running in the short term, RTC needs $44,000 from the City of Reno. They have 3 options: They can see if Sierra Spirit qualifies for Community Pride Block Grant funds, whose requirements include 51% of the riders being low to moderate income. IF Sierra Spirit qualifies, then CPBG's can be used, however it would mean the Post Office acquisition could be delayed, a potentially huge setback for a project that has been on the table for years.
The next option would be using the City Council's contingency fund. The City Council gets a general fund they can use for whatever they see fit, which there is $150,000 left in it. Option 3 would be to work with businesses downtown to get donations.
- RDA BUDGETARY ISSUES - The Redevelopment Agency, which is primarily funded through property tax, is having some budgetary issues regarding property tax revenue, and operational costs. Even though RDA District 1 property tax revenues are coming in for 08/09 at near-projected values...RDA is concerned about next year, when RDA District 1 (primarily downtown) will go through property tax reassessment appeals. This ultimately means the casinos downtown could have their property tax lowered, thus decreasing the revenue for RDA even further. To add to concerns, RDA District 2 experienced some property tax devaluation in 08/09. RDA District 2 comprises areas just east of downtown, South Virginia Street, Grand Sierra Resort, Cabellas/Boomtown area and a few other pockets of city. So to make up for this, RDA has the following ideas: Reduction of use of consultants for RDA #1 projects, which would result in delay of projects currently on the books, Shifting of personnel currently working on RDA #1 projects to enhance work done for RDA #2 projects, which may avoid reductions in force, and Increase in furloughs and/or reduced work-weeks, and then the worst case scenario, reductions in force.
- West Street Market - It looks like Dennis Banks construction will get the go-ahead/funds to build the metal front gates and sign design for West Street Market. His work does not include the lettering, which a separate company is doing. Due to cost, the RDA board may elect to choose cheaper up lighting for the West Street Market lettering in the sign in lieu of inset lighting, which would add $10,000 to the price tag. Also, the shade structures were also nixed due to cost. But we get cool string lamps! In this economy, I am happy to get anything.