As the city of Reno, Nev., commences a season of Triple-A baseball at the new, 10,000-capacity Aces Stadium, the city council has approved the developer’s request for a loan to get the next phase under construction.
Stuart Katzoff, managing partner of development group Never Land LLC and SK Baseball, owner of the Reno Aces minor-league team, approached the city council in late March for an additional $10 million to jumpstart construction on the entertainment district’s retail section because the recession has made it difficult to secure loans, according to the Wall Street Journal.
The council approved the funding to build two full-service restaurants and three nightclubs, which could break ground this summer with a goal of completion by 2010.
A revised contract with the city gives the developers 18 months, with an option for a six-month extension, to complete that phase of the project, the Reno Journal-Gazette reported.
SK Baseball officials also agreed to keep the team in Reno for 15 years instead of the previously agreed-upon 10 years, the paper said.