Reno City Council will do studies to see if GSR is eligible for tax incentives

The Reno City Council has agreed to move forward with several studies to see if the Grand Sierra Resort is eligible for a tax incentive for its upcoming $1 billion dollar project that includes a 10,000 seat arena as well as several site improvements.

The City Council voted in favor 6-1. Jenny Brekhus voted against it, saying she felt it was taking property taxes away from the city.

The city will now have to work on the exact details of the agreement.

Developers have applied for Tax Incentive Financing. Because the project is estimated to increase the Grand Sierra Resort's property taxes to $10 million annually, the GSR is asking the city to allow it to use $97 million of that property tax increase over the course of several years to instead reinvest in the project.

A spokesperson for GSR has clarified they are not asking the City of Reno for any general fund revenues.