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Reno council and RDA endorse term sheet to keep Reno Aces, shift stadium obligations to RDA
Summary
After extended public comment and weeks of advisory review, Reno City Council and the Redevelopment Agency approved a term sheet with Nevada Land / Reno Aces that extends a non-relocation commitment, obligates $40 million in private capital and transfers stadium maintenance and most financial responsibility to the private owner and RDA. Council authorized staff to finalize agreements.
Reno City Council and the Redevelopment Agency voted Jan. 28 to approve a negotiated term sheet with Nevada Land LLC and the Reno Aces that aims to secure baseball in downtown Reno while shifting long-term financial risk away from the city's general fund.
Staff told council the term sheet would: extend the non-relocation commitment for the AAA club through 2049; require a $40 million capital investment in and around Greater Nevada Field (50% within five years); transfer the stadium asset to Nevada Land with maintenance…
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