The Rio Nuevo Board unanimously approved a $2.6 million gap loan to Don Bourn and his renamed City Park project. Bourn explained that he has raised $5 million in equity and approximately $10 million in bank financing to develop a new entertainment complex at the corner of Congress and Scott, long known as the Thrifty […]
Rio Nuevo Invests $3.6 M and Advances $41 Million of Downtown Projects Read More »
Taking advantage of increasing TIF revenues and the beneficial effects of refinancing the 2008 city issued bonds, at its May 31, 2016 Regular Meeting, the Rio Nuevo Board approved an administrative budget of $1.4 million and a downtown project budget of $17.4 million for the fiscal year beginning July 1, 2016. The previously announced projects
Rio Nuevo Approves $18.8M Budget for FY 2016-17, Renews Hope for Marist College Building Read More »
The Rio Nuevo Board and its attorneys reviewed the due diligence associated with the lot under contract for the new downtown Greyhound Terminal. The appraisal supported the purchase price, the environmental reports were clean, City Development Services staff indicated the zoning was appropriate, and the City Council concurred with the Board’s expenditure. The Board directed
Rio Nuevo Advances Acquisition & Improvement of New Greyhound Terminal Read More »