The Reno City Council on Wednesday approved an estimated $68.1 million tax-increment financing (TIF) plan that will help fund the Grand Sierra Resort’s plan to build a new 10,000-seat multi-use arena that will be home to the Nevada Wolf Pack men’s basketball team.
The council voted 5-2 in favor of the plan following more than six hours of public comments and debate among the council. Councilmembers Kathleen Taylor and Meghan Ebert were opposed.
“I want to reiterate and explain that this is a tax. We do not just hand them a check,” Mayor Hillary Schieve said before the vote. “It has to be generated based on what they do, what they build.”
