The new guaranteed funding would be a minimum payment of $1 million a year from redevelopment funds to SK Baseball, the company managing the city’s new minor league baseball team.
The money will go toward securing the second phase of work, developing an entertainment portion near the stadium, including night clubs, restaurants and retail.
SK pointed out that the money will go further and create jobs. The changes will also include lengthening the team’s commitment to stay in Reno from 10 to 15 years. Officials say the downtown stadium is on track to be completed by April 17, 2009.
