Carson City Supervisors vote to proceed with Nugget Project
The Carson City Board of Supervisors voted 4-1 tonight to move forward with the $49 million Carson City Center/Nugget Project.
You can see the live blog coverage here.
The motion to proceed to the next step of this controversial development included a commitment by the city of $11.3 million in redevelopment funds, $12 million to come from recently increased landfill fees, and a one-time expenditure of $500,000 from the city's utility fund.
This commitment contained restrictions that requires that the other $21 million in private funds and grants must be in place first before the city would put their money into the project.
The funding is also to be structured so that the city would not be saddled with any additional debt. To achieve this, a development organization would be formed to take over ownership of the property, leasing it to the city.
A 1/8th cent sales tax increase that had been proposed for this project was stripped out of the final motion, replaced with the landfill fee funds. Supervisor Shelly Aldean, seen as a key swing vote on the project, had suggested last month that city staff look at the landfill fee option to negate the need for the sales tax increase.
Tonight, Aldean stated that she would only support the Nugget Project without using the sales tax in order to preserve that funding source for future needs.
Nugget President Steve Neighbors expressed confidence that the Library Foundation could raise at least $10 million in private donations for the project, and that the Hop and Mae Adams Foundation would kick in up to $8 million. They also expect to garner another $3 million in federal grant money.
The meeting included several hours of public comment, as supporters and opponents took the podium to express their views.
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