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Advisory board continues review of RED retail TIF application, asks for fuller analysis
Summary
After staff and consultant presentations, the board voted to continue the Tax Increment Financing (TIF) application for the Reno Experience District retail build-out and asked staff/consultant to provide additional analysis that includes how the retail fits within the broader catalyst project.
The Redevelopment Agency Advisory Board voted May 4 to continue consideration of a TIF application for the Reno Experience District (RED) retail build-out and asked staff and consultant SB Friedman to provide additional analysis showing how the retail fits in with the broader catalyst project.
Staff summarized SB Friedman's gap analysis and said the retail-only build-out produced limited projected increment — roughly $836,000 through 2035 — because the upper-story buildings were already constructed and assessed, leaving only recovered increment rather than new increment.…
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