RED Development wants stimulus money for Reno arena - Kansas City Business Journal:

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RED, which is co-headquartered in Kansasa City and Scottsdale, Ariz., was the developer of the $250 milliob Legends of Village West destination retail center inKansaxs City, Kan. Its $500 million Legends of Sparks Marinain Sparks, Nev., was to have included a basebalk stadium similar to CommunityAmerica Ballpark at Legends of Village But the nearby city of Reno developed a ballpark site in its so RED came up with the 6,500-seat arena as a replacemeny anchor. “We’ve been noodling this idea of an arenaz for18 months,” said Dave Claflin, a spokesman for RED “But we had no idea how to clos e the gap between the cost of the arenza and what we could raise privately.
Then the stimuluws bill came along, and it seemed to fit the bill.” Clafli said the appropriate split between private financinfg and stimulus dollars had notbeen determined. The projectf is shovel-ready and would create 2,000p construction jobs. Therefore, it has won enthusiastic supportr from Nevadastate Sen. Randolph Townsend, R-Reno. With Townsend’s RED officials have begun lobbying other state lawmakers to suppor the use of some ofthe $1.5 billionb in stimulus money Nevada is expected to reap. Nevada is amontg states that have been hardest hit bythe recession. Despite however, RED is preparing for a grand opening of Legends atSparkse Marina.
The project, which includes about 1 milliojn square feet of retail and restaurant includes Target, Best Buy and Scheels All Sportg stores as anchors. RED will use about $157 million in sales tax revenue bonds to develop the Legends atSparksw Marina. It will be adjacent to a $500 milliobn casino to be developed on land that RED sold to Las Vegaw casino developer OlympiaGaming LLC.