Redevelopment Agency Board Meeting
Wednesday, May 20, 2026
Note: This summary is based on the meeting packet (minutes and transcript were unavailable or not used).
What Happened
The Redevelopment Agency Board approved two fiscal year 2026/27 budgets totaling $32 million in spending and capital projects across downtown and midtown Reno redevelopment areas.
Key Decisions
APPROVED — FY 2026/27 final budget for Redevelopment Agency #1 (downtown area) including $3.68 million in capital projects and $2.09 million in programs — vote count not recorded — authorizes spending for parking, blight cleanup, and Lear Theater improvements
APPROVED — FY 2026/27 final budget for Redevelopment Agency #2 (broader districts) including $13.27 million in capital projects and $2.37 million in programs — vote count not recorded — authorizes spending for river path construction, stadium payments, and street improvements
APPROVED — $40 million investment into baseball stadium district from Nevada Land LLC commitment — covers new ballpark construction costs
APPROVED — Redevelopment Agency assumption of $1 million annual baseball stadium obligation through 2043 — shifts payment responsibility from City to RDA budget
Debated But Not Resolved
Vacant Storefront Activation Program strategy — Four options presented (Broker Engagement, Pop-Up Activation, Master Lease/Sublease, Strategic Property Acquisition) with Redevelopment Authority Advisory Board recommending Master Lease option — Board will select preferred strategy in late summer 2026 after staff refinement; City Council still reviewing
Six TIF (Tax Increment Financing) projects on hold — 521 Lake Street, RED Retail Project, Keystone Avenue & 5th Street, Bonanza Inn, and RED Multifamily projects awaiting consultant reports or applicant approvals — final Gap Analysis reports and participation decisions pending
What to Watch
$13.27 million — River Path construction (Phase 1: Lake Street to Brodhead Park) and design documents for Phases 2 & 3 — RDA #2 Capital Projects
$6 million — River Path Phase 1 construction — RDA #2 Capital Projects
$2 million — Lear Theater capital improvements — RDA #1 Capital Projects
$2 million — E 4th Street Bistro Lighting — RDA #2 Capital Projects
$2 million — Linden Street Area Project — RDA #2 Capital Projects
$1.6 million — University Village Pedestrian Improvements — RDA #2 Capital Projects
$1 million — Annual baseball stadium agreement payment through 2043 — RDA #2 General Fund
$1 million — RDA #1 debt service (principal) — RDA #1 Debt Fund
Vacant Storefront Activation decision — Board must select one of four strategies to address empty downtown retail. Site selection and implementation plan due late summer 2026. This determines how $150,000 annual funding gets spent.
River Path construction start — $6 million Phase 1 project from Lake Street to Brodhead Park is now funded. Timeline and contractor selection coming next.
TIF project approvals — Six stalled projects need consultant reports and applicant confirmations. Bonanza Inn and RED Multifamily projects are on hold at applicant request with no timeline given.
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