Gov. Kenny Guinn has cleared the way for special bonds to be issued to help finance a shopping center with restaurants night clubs and destination retail stores at the Sparks Marina.
Guinn formally determined late last week that the Legends at Sparks Marina project will contribute significantly to economic development and tourism in the state, city officials said Wednesday.
State law requires the governor to reach such a determination before Sales Tax Anticipated Revenue (STAR) bonds can be issued.
"This is a wonderful announcement to begin the year," Sparks Mayor Geno Martini said in a statement.
"With the governors signature last week, and final approval from the City Council to follow soon, the Legends at Sparks Marina will begin to take shape. I join the entire City in looking forward to the groundbreaking of this landmark development in Sparks."
The bonds allow for up to 75 percent of the sales tax generated from a development to be used to repay the bond debt. In order to qualify for STAR Bond financing, a developer must demonstrate that more than 50 percent of the sales taxes generated from the project will come from out-of-state tourists.
RED Development, LLC, based in Kansas City, Mo., is developing the 1.35 million-square-foot project at the site of the old outlet mall at Sparks Boulevard and U.S. Interstate 80.
Future tenants are to include Brooks Brothers clothing; Cantina Corona, the beer maker's second Mexican restaurant in the U.S.; and Pin-Up Bowl, an adult bowling alley with martini bar.
The blueprints also call for T-Rex: A Prehistoric Family Adventure - by the creator of Rainforest Cafe - which mixes dining with education about dinosaurs.
Scheels All-Sports plans a 235,000 square-foot sporting good store that also will feature elaborate displays, specialty boutiques, a shooting gallery and a Ferris Wheel.
Other tenants are Saddle Ranch Chop House, a western-theme restaurant with a mechanical bull, and Dave & Busters, a restaurant
that also features electronic games, pool and shuffleboard.