RDA is Debt Free (Reno City Council Meeting 9.23.26)

The City of Reno held a council meeting on September 23, 2026, where a significant procurement-related decision was discussed regarding the Redevelopment Agency (RDA). The council approved a resolution to pay off two series of tax increment bonds issued in 2007, effectively eliminating over 20 years of debt. This early redemption and defeasance of the bonds will free up future property tax increment revenues, allowing the RDA greater financial flexibility to invest in public infrastructure, housing initiatives, commercial property improvements, and strategic acquisitions. The payoff is scheduled for November 23, 2026, and is expected to reduce future interest costs and remove annual debt obligations, positioning the agency to better support redevelopment projects and private investment in the community. Additionally, the council approved various grant acceptances and a lease agreement, supporting community programs and infrastructure improvements.