Redevelopment Agency Advisory Board - Special Workshop - 06/15/2026

The City of Reno Redevelopment Agency Advisory Board held a special workshop on June 15, 2026, focusing primarily on redevelopment agency participation programs, property tax issues, and tax increment financing (TIF) policies. A significant portion of the meeting was dedicated to a detailed presentation on property tax valuation, depreciation, abatements, and exemptions, highlighting challenges such as declining property tax revenues due to depreciation and tax caps. The board discussed the extension of the RDA2 district and its implications for local jurisdictions, including negotiations with the county and school district over revenue sharing. A consultant from SP Friedman Development Advisors presented best practices for TIF use, emphasizing financial gap analyses, project readiness, and structuring public assistance to avoid above-market returns. The board deliberated on policy refinements including eligibility criteria for TIF applications, prevailing wage applicability, obsolescence adjustments, application fees, and project milestones. They also discussed redevelopment agency governance, considering options for board independence and decision-making authority. The meeting concluded with a motion to recommend staff incorporate the board's feedback into updated participation programs and processes, which was approved unanimously.