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Developers outline hotel-and-retail plan for county-owned 75 E. Broadway; Rio Nuevo explains statutory limits
Summary
OB Companies and Rio Nuevo presented renderings for the Tucson Inn and Market on county land at 75 E. Broadway. OB Companies committed over $50 million; Rio Nuevo said its statute limits it to convention/entertainment-related investments and typically contributes 10–15% (up to 50% under statute) of project costs.
Developers and Rio Nuevo representatives briefed the Pima County Board of Supervisors on Nov. 18 about a proposed hotel-and-retail project on county-owned property at 75 East Broadway.
Fletcher McCusker, chair of Rio Nuevo, described the district's statutory role as a stadium/convention-oriented entity and said Rio Nuevo can contribute up to 50 percent toward eligible project costs under the…
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