The Reno Redevelopment Agency, comprised of members of the Reno City Council, approved Wednesday a financial gap analysis and deal negotiations on the Grand Sierra Resort’s proposed $1 billion development.
That project includes the construction of a $380 million arena, which would be contingent on the GSR qualifying for tax-increment financing that would cut up to $89.7 million off future property taxes.
The TIF financing has been used by the city of Reno before for large-scale projects. The 10,000-seat arena would be home to Nevada men’s basketball games and a potential minor-league hockey team as the GSR’s owner, Alex Meruelo, owns the AHL’s Tucson Roadrunners…