RENO, Nev. (News 4 & Fox 11) — Jacobs Entertainment, the company behind downtown Reno’s ‘Neon Line District,’ will once again seek public funding to help finance the next $128 million of redevelopment in the 4th St. corridor.
In a press event announcing the next four years of planned projects, CEO Jeff Jacobs said he has applied to the city of Reno for tax increment financing, a public funding mechanism, to help develop two affordable housing projects.
Tax increment financing (TIF) allows developers to recapture a portion of property tax revenue generated by a project to be reinvested in the project…