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.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 175878051 -
Gray Television, Inc.