Reno Council Okays Stadium Refinancing Plan

By: AP Email
By: AP Email

RENO, Nev. (AP) - The Reno City Council has given tentative approval to a plan to use general fund money to help owners of the Reno Aces baseball team refinance a $55 million loan used to build Aces Ballpark.

The Reno Gazette-Journal reports that Mayor Bob Cashell cast the tie-breaking vote in favor of the deal after making an impassioned plea to work out a refinancing agreement to keep the Reno Aces in town.

Council members who voted against the proposal expressed concerns about using taxpayer money at a time when budgets are tight.

Billionaire Herb Simon is the main financial backer of the Triple-A baseball team. He has said he'd move the team elsewhere if a public financing deal can't be reached.

Washoe County is also being asked to subsidize the loan.


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