Various Redevelopment News

by Mike Van Houten / Feb 27, 2009

Reno Redevelopment Agency Budget Issues

2/25/09 - 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.

Post your comments
  • February 25, 2009 - 11:40:24 AM

    I am so glad that the west street market has decided to install the metal gate and signage in front, but I will be very disappointed if they use the cheap looking up lights instead of the inset lighting.. This market needs to sell itself as a hip, classy urban destination. If you go cheap on its decore, it will show the illusion of being cheap..We all know we are trying to detour the downtown image of being dirty and cheap. Invest the ten grand now or they will later regret it and fork over more money to replace it.

  • February 25, 2009 - 11:57:09 AM

    DMD - Read the article again. 1. Sparks is not requesting stimulus money to build the arena, the developer is. 2. The "out-of state" entity from Kansas City is RED Development - the developer on the entire project Stick with downtown issues...

  • February 25, 2009 - 12:09:08 PM

    Sorry Res, it was early in the morning when I wrote that. I realize RED Development is the developer, and I didnt mean to imply that Sparks was seeking the stimulus money. However, Sparks officials in many many articles have stated they want an indoor arena...especially after plans for a baseball stadium fell through. Thats what I meant...the developer wants the money for the stadium, and Sparks officials really want some kind of event venue without having to commit public money to it. Also, I never said I was against the idea of an indoor arena in Sparks.

  • February 25, 2009 - 12:15:40 PM

    What about downtown Reno? Do we get any stimulus money for things?

  • February 25, 2009 - 1:40:24 PM

    Concerning Sierra Spirit, what are the possibilities of requiring a small fee for those who ride. I don't think charging for this service would be a huge deal, But it wasn't even listed as an option?

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