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Reno Redevelopment Agency approves FY2026 operating plan, sets aside funds for downtown improvements and Fourth Street plan
Summary
The Reno Redevelopment Agency (RDA) advisory board and the RDA board approved a FY2026 operating plan that funds small tactical programs in both RDA1 (downtown) and RDA2 (noncontiguous commercial corridors), proposes acquisition of city parcels, and budgets support for a Fourth Street revitalization plan and the historic rail depot.
On Monday, May 5, the Reno Redevelopment Agency voted unanimously to advance an FY2026 operating plan and capital program that targets tactical downtown improvements and planning for redevelopment corridors.
Brian McCarter, the city’s revitalization manager, told the RDA board that the agency now has capacity to fund projects after years of debt service and that this fiscal year presents the first material increment in RDA1 (downtown) available for reinvestment. McCarter said RDA1 will have modest, carry-forward funds available and that RDA2 continues to generate larger annual increment driven by new development outside downtown.
The operating plan approved by the board allocates funds across programs including a renewed downtown ‘‘restore’’ grant program (proposed split between RDA1 and RDA2), a small tactical vandalism repair grant to expedite storefront repairs, a placemaking pilot fund and public-art murals. The plan also includes up to $350,000 for initial improvements at the historic rail depot on Commercial Row to separate and clarify Amtrak operations and to ready the building for future reuse, and $4.5 million to acquire specific City-owned properties along the retrack corridor that staff previously identified in a city property plan.
McCarter said the RDA proposes to add two management analyst positions to the agency staff to support a heavier pipeline of tax-increment finance (TIF) applications and program delivery. The FY26 operating plan listed $7.6 million in capital projects across both districts, $3 million in bond service and anticipated professional services for planning and legal support. The plan also earmarked funds for a citywide parks and river service plan, a project McCarter said would help coordinate long-term riverfront maintenance and programming.
Board members discussed timing and limitations tied to tax-increment financing. McCarter reminded the board that the legislative set-aside for the Washoe County School District requires an 18% allocation of any RDA1 surplus above debt obligations, a requirement embedded when the original RDA1 legislation passed. He also noted that RDA1’s remaining long-term bonds mature in 2027; paying down those obligations will free more local increment for capital use.
The board authorized staff to proceed with the FY2026 plan; McCarter said staff will return with implementation details and a proposed five-year capital plan to sequence projects. Outcome: RDA board voted unanimously to move forward with the staff-recommended FY2026 operating plan and capital program.
