Stateline RDA presentation today
IF YOU GO
What: Douglas County Board of Commissioners
When: 1:30 p.m. Thursday
Where: Tahoe Transportation Center, Stateline
County officials are setting up overflow seating for today’s presentation by the Tahoe Douglas Visitors Authority on an events center at Stateline.
The presentation is scheduled to include updates on the project status, funding, studies, the Tahoe Regional Planning Agency approval process and transportation funding requirements for the project.
Under Nevada’s Open Meeting Law, county commissioners are prohibited from taking action on the presentation and whether public comment will be taken is up to Chairman Barry Penzel.
Commissioners meet 1:30 p.m. today at the Tahoe Transportation Center in Stateline. The meeting will be streamed live, with overflow seating available at the Tahoe Township Justice Court.
In preparation for today’s meeting, the county has updated its frequently asked questions site to include that the authority is seeking $34.25 million in current and future tax increments to support the center.
County commissioners sitting as the redevelopment board are expected to hear the financing agreement at their March meeting, which is when the Tahoe Regional Planning Agency is expected to approve the center’s construction.
According to a timeline included in the backup material for today’s meeting the authority would sell bonds and come up with a construction contract in April, with construction beginning in May for a Spring 2022 opening date.
The authority is seeking $1.3 million a year from redevelopment. According to the county neither the redevelopment agency nor the county would be liable should the authority default on the bond.
Opponents of redevelopment are distributing a petition to have the issue placed on the ballot in November.
However, it’s possible that if the county obligates the redevelopment agency to the $34.5 million, that petition could be rendered moot. In Nevada, legislative actions are subject to the initiative process while administrative actions are not.
Events center proponents point out that assessed valuation of the Stateline casinos declined between 2000 and 2018 by $58 million over 18 years. While Stateline was one of Douglas County’s biggest employers around the turn of the century with 10,000 workers, that number has shrunk to 3,000, according to proponents.
One of proponents’ main arguments is that tribal casinos of reduced revenues from the Stateline casinos and that their continued economic vitality depends on expanding nongaming and attractions.
Backers say a proposed 138,000 square foot events center with room for 4,200 seats and space for conventions and trade shows is key to turning around that decline.
Proponents say their goal is to limit operations of the events center during the summer and winter months in order to avoid cannibalizing visitors from the casinos.
Private firms have invested more than $500 million into Stateline, including the $60 million renovation of the Hard Rock Casino, the $41 million of Harvey’s, $100 million sunk into Edgewood Tahoe Resort and the $300 million Tahoe Beach Club.
The Nevada Legislature approved a $5 a night surcharge on rooms at Stateline, which is expected to generate $3 million a year.
The land for the events center will be donated by the owners of the Mont Bleu Casino, which proponents say contributes another $10 million.
“While we cannot guarantee an increase in jobs from the events center to offset the losses in gaming jobs, the events center is projected to reverse the trajectory of the area by creating new jobs,” proponents said.
The webpage related to RDA No. 2 and the event center has been updated. The webpage includes answers to Frequently Asked Questions and history of why, when and how RDA No. 2 was established. In addition, the webpage contains links to RDA No. 2 related materials provided to the commissioners and the public for consideration since 2009.
To view the webpage visit: https://www.douglascountynv.gov/cms/one.aspx?portalId=12493103&pageId=15724503
For additional questions or concerns contact the Douglas County Manager’s Office at 775-782-9821.