First glance: New Nugget Project plan

Taking a look at the new plans for the Carson City Center/Nugget Project, there are several new things that stick out.

First, the announcement that partnership with P3 Development has been terminated because they could not come to an agreement. It was revealed earlier this summer that the the project partners switched architects because they weren't happy with what they were getting from P3. But now it seems P3 is out of the picture entirely. Not only was P3 slated to build the project, but it was supposed to handle the financing.

The next big item is that the Mae B. Adams Trust will donate three parcels of land to a not-for-profit entity that will take over ownership of the project in place of P3 Development. The ownership of the land has been a sticking point for this project from the beginning. At first, the land was to be leased to the city. Eventually, Nugget President Steve Neighbors relented and said they would offer a lease-to-own deal for the land. Now it appears the land will be straight-out donated to the project instead.

The plan calls for this not-for-profit entity to be controlled jointly by the Carson City Board of Supervisors, The Carson City Library Board of Trustees and the Mae B. Adams Trust. This new entity will use the donated land as collateral to obtain the financing needed to complete the project. The city would then enter into a lease-to-own arrangement with this new entity.

The plan describes the mission of this entity as such:

The primary mission of the not-for-profit entity includes business and economic development as well as special focus on career paths and workforce training for youth through formal and informal educational opportunities. The secondary mission is to create a central community gathering place. The missions are ensured through the entity's governance which designates voting rights as such: the City with 34%, the Library Board of Trustees 33% and the Mae B. Adams Trust 33%.

The total cost of the project has gone up from $31 million to nearly $50 million, but the money coming from city funds has dropped. The project still counts on an 1/8th cent sales tax increase that would collect approximately $12 million, and redevelopment funds of $11.3 million. But instead of the $1.2 million annual contribution from the city's general fund, this new plan calls for a one-time $500,000 contribution from the city for sewer, water and storm drain work in the project area.

As for the remainder of the money need, the plan calls for $3 million in Federal Economic Development Agency grant funds, and $18.3 million in private funds coming from the Mae B. Adams Trust and the Carson City Library Foundation.

H+K Architects have also come up with new conceptual images of the project, and describe how they use the old V&T Roundhouse as model to incorporate the historical character of the area into the structures.

The Knowledge and Discovery Center/library structure has also been enlarged from 60,000 to 65,000 square feet to accommodate a 180-seat auditorium.

Another change is that the library building has been relocated to the south portion of what is now the Nugget property, along East Proctor Street. The $9.1 million parking structure will be located on the north side of the property, where the Carson Nugget's valet parking area is now. The parking structure would also serve new retail space being planned within the structure, as well as future development along Stewart Street.

There is also a new website for the project: http://www.carsoncitykdc.org/

See the three attached documents for more details.