Redevelopment gets an extra $246,000

If you found an extra quarter of a million dollars this holiday season, how would you spend it?

The Carson City Redevelopment Authority recently received a $246,000 windfall, said Supervisor Robin Williamson, chairwoman of the redevelopment authority.

"Usually, we're poor-mouthing, so it's like pennies from heaven," Williamson said. "It gives us a lot more options. In the past we've limited our scope, and this gives us a chance to look at our wish list and see what we can accomplish."

Williamson said the redevelopment committee will discuss today ways to possibly use the extra money. The committee is in the midst of a process to try and define goals for continuing downtown.

Williamson said possible expenses range from funding another Telegraph Square along Curry Street to creating a revolving loan program to help provide business incentives.

About $220,000 of the money comes from real property taxes billed to the Employers Insurance Company of Nevada. Privatized in 1998, the former State Industrial Insurance System was tax-exempt as a state entity.

Redevelopment is funded by tax increment financing.

If a property was valued at $500 in 1986 and the property owner paid $5 in taxes, the city collected the tax for its general fund, the state took a portion, schools got a portion etc. If the next year the value jumped to $600 and the property owner paid $6 in taxes, the government entities collected the $5, and the redevelopment district received $1.

Also before the committee today, Williamson said a deadline to apply for downtown events funding will be extended from Jan. 5 to the beginning of February.

"We want to give people time to enjoy the holidays," she said.

The redevelopment authority will now fund downtown special events by an application process. Previously, anyone wishing to apply for redevelopment funds approached the committee throughout the year.

Applications for funding for events fiscal year 2001/2002 will be available Monday at City Hall, 201 N. Carson St. or the Community Development Department, 2621 Northgate Lane. Call Rob Joiner at 887-2188 ext. 1002 for information.

If you go:

What: Carson City Redevelopment Citizen's Committee meeting

When: 5:30 p.m. today

Where: City Hall's Capitol Conference Room, 201 N. Carson St.