The issue of back property taxes — a cloud hanging over the finances of the Reno Aces (Class AAA; Pacific Coast League), Aces Ballpark and Washoe County — may be settled in a deal negotiated by team owners, developers and county officials. (more…)
Tag Archives | washoe county
Aces finances under Reno’s scrutiny again
The ongoing issues between the Reno Aces (Class AAA; Pacific Coast League) and the city over Aces Ballpark financing and back property taxes have surfaced again, with team management set to address them in February. (more…)
City: We’re not eager to make Aces Ballpark deal, either
A day after Washoe County decided to wait and see on an Aces Ballpark bailout, the Reno City Council decided to put off a decision until next year in hopes of crafting a deal. Thre issue: coming up with $30 million to cover debt service on the ballpark, SK Baseball, owners of the ballpark and […]
Washoe County: No commitment yet to Aces ballpark bailout
The status of a public bailout of Aces Ballpark, home of the Reno Aces (Class AAA; Pacific Coast League), remains in limbo after Washoe County Commissioners pass on a proposed plan to commit a half-million dollars annually for debt relief. The county is being asked to pay $500,000 annually for 30 years as part of […]
Reno withdraws funding plan for Aces Ballpark
Elections have consequences: the new majority on the Reno City Council voted to rescind a deal paying $1 million annually for 30 years to address debt on Aces Ballpark, home of the Reno Aces (Class AAA; Pacific Coast League). The vote wasn’t close — 6-1 — and it came after new members of the City […]
Washoe County balking at Aces ballpark subsidy
The effort to bring lots of public money to paying down Aces Ballpark, home of the Reno Aces (Class AAA; Pacific Coast League), hit a snag after Washoe County officials put the brakes temporarily on a request for $15 million. The Reno City Council has already committed $30 million over 30 years (out of general […]
Reno preliminarily approves ballpark bailout
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 […]
Reno airport authority: Don’t expect us to bail out Aces ballpark
As Washoe County struggles to find some money for the Reno Aces (Class AAA; Pacific Coast League), the local airport authority is clear on one thing: Don’t raise car-rental taxes to pay for the ballpark. Aces ownership has been open about asking Washoe County to come up with $1.5 million annually to pay down debt […]
Aces owners: Refinance ballpark debt or we’ll move team
The owners of the Reno Aces (Class AAA; Pacific Coast League) say they want to refinance debt on Aces Ballpark before some big payments are due in 2014 — and are threatening to pull the team if Washoe County won’t cooperate. Some big names in the real-estate development world own the Aces and the privately […]
Aces, Washoe County continue debate over property taxes
Owners of the Reno Aces (Class AAA; Pacific Coast League) and Washoe County continue to debate over property taxes owed on Aces Ballpark. Technically, the Aces owe the county $1.6 million in back property taxes, including $1.2 million in penalties. The Aces, meanwhile, say the county has overvalued the ballpark, so property taxes should be […]
State turns down Reno ballpark tax appeal
Because the Reno Aces (Class AAA; Pacific Coast League) have a year-round lease on Aces Ballpark, owners can’t seek a property-tax reduction based on partial ballpark usage, according to a state panel. The Aces ownership had sought a reduction in property values using a unique argument: because the ballpark is being used only part of […]