The City of Reno is working with industry and business groups ranging from chambers of commerce to the Association of General Contractors to identify projects that might be eligible for financing through Recovery Zone Facility Bonds.
The bonds, authorized by the federal stimulus act, offer tax-exempt financing rates for projects that otherwise would be financed at taxable rates. That lowers financing costs on a development.
The bonds are repaid by a developer, and the sources of repayment must be identified during the qualification process.
The Reno City Council hopes to identify projects for consideration for bond financing during its Dec. 16 meeting.
