The threat by Reno Aces (Class AAA; Pacific Coast League) owner Herb Simon worked: the Reno City Council preliminarily approved a plan to refinance a $55-million Aces Ballpark construction debt.
A final vote is scheduled for Nov. 7; it’s expected to go the same way unless something changes.
The city would use general funds, to the tine of $1 million annually, to pay down the ballpark debt. The original financing plan called for increases in the downtown property-tax base to fund the ballpark, but that rise never happened, leaving SK Baseball on the hook for paying back the loan.
Washoe County is also being asked to contribute $500,000 annually toward the ballpark debt. SK Baseball will also kick in money to pay down the $55 million debt.
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