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Monday, Sep 01st

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You are here: Minor League News Reno approves $30M bailout of Aces Ballpark; county is up next

Reno approves $30M bailout of Aces Ballpark; county is up next

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Reno Aces

The Reno City Council approved spending $30 million over the next 30 years to address debt on Aces Ballpark, home of the Reno Aces (Class AAA; Pacific Coast League), with the matter now going before the Washoe County Commission.

SK Baseball had sought the public money to address a $55-million construction loan on the ballpark. The ballpark spending, which passed the City Council on a 5-2 vote, will come out of the city's general fund and will require an annual reauthorization. Even those voting in favor of the measure were not pleased by it: the Aces owners had threatening to move the team out of Reno if they didn't get a public bailout. But there was some culpability on the city's side: the ballpark construction was slated to be financed with redevelopment money generated by improvements in the ballpark area, but the city redevelopment agency is effectively bankrupt after the economic crash of 2007.

As part of the negotiations, the city will have more access to the ballpark for non-game-day events and will not assist the developers in their attempt to lower property-tax payments on the ballpark. In addition, the city will share in the benefits of any naming-rights deal paying more than $300,000 annually.

Next up: a request to the county commission to pay $15 million toward ballpark debt.

RELATED STORIES: Washoe County: No commitment yet to Aces Ballpark bailout; Could Aces end up leaving Reno?; Reno withdraws future funding plan for Aces ballpark; Washoe County balking at Aces ballpark subsidy; Reno approves ballpark bailout; Aces owners: Refinance ballpark or we'll move team; Aces, Washoe County continue debate over property taxes

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