The Redevelopment Agency Advisory Board Meeting September 14, 2026

The City of Reno's Redevelopment Agency Advisory Board met on September 14, 2026, focusing primarily on a tax increment financing (TIF) participation agreement with Cold Water Capital for a $24 million workforce housing project at 521 Lake Street. The board discussed providing up to $3.1 million in TIF assistance to support the project, which includes 107 workforce units with rents averaging $1,270 per month. Public comments raised concerns about the project's design and the high ratio of public to private investment. The board reviewed financial analyses indicating a funding gap requiring supplemental assistance and debated conditions including clawbacks if affordability requirements are not met. A motion was passed recommending approval of up to $1.3 million in supplemental TIF assistance with conditions on affordability and payment terms. Additionally, updates were provided on other redevelopment projects, including facade improvements, Amtrak station bathroom renovations, and parking facility assessments. The meeting concluded with a presentation on the City of Reno's FY27-29 strategic plan, highlighting priorities such as city stewardship, legal compliance, and infrastructure maintenance, and discussing alignment challenges between city and redevelopment agency plans.