A new, upscale mall is being proposed for the Sparks Marina area to replace the shuttered outlet mall just east of the recreational area.
Red Development LLC of Kansas City and Phoenix envisions a 500,000 square foot project at Sparks Boulevard and Interstate-80.
It would tear down the graffiti-tagged outlet mall on the 90-acre property to build the new complex.
The company also is proposing to pump water from the marina through the mall for ponds and fountains, and circulate it back to the marina. Sparks Mayor Tony Armstrong said that would reduce algae at the popular park.
While specific anchor tenants aren't being discussed yet, Armstrong said the proposal contains no gambling.
Red Development plans on the mall being a tourist draw and officials hope to use STAR bonds, which give a tax break to projects that get the majority of their business from visitors.
Normally, 100 percent of sales tax from retail businesses goes to the state, which redistributes it.
STAR - or sales tax and revenue - bonds approved by the last Legislature5would allow Red Development to sell the bonds to help fund the center's construction. Then 75 percent of the sales tax would go to pay interest on the bonds and 25 percent would go to the state.
"If it wasn't there, we'd be getting 100 percent of nothing," Sparks City Councilman Mike Carrigan told the Daily Sparks Tribune.
On Monday, the City Council and Redevelopment Agency will consider approving an exclusive negotiating agreement with Red Development for the mall.
Other projects by Red Development of similar size have price tags greater than $70 million, according to the Reno Gazette-Journal.
Red Development has worked with many national retailers and restaurant chains at its other projects, including some northern Nevada lacks, such as Abercrombie & Fitch and Williams-Sonoma, as well as big names that have opened in the area such as P.F. Changs.