RENO, Nev. (KRNV & MyNews4.com) -- The Reno-Sparks Convention and Visitors Authority has committed funding that will help the event reach its premium goal on time.
The RSCVA just approved an accelerated payment schedule of $75,000 to go toward the National Championship Air Races event's insurance premium.
The National Championship Air Races event must meet $2 million in insurance coverage.
Reno Air Racing Association President and CEO Mike Houghton tells News 4 that is much more than they have paid in the past and they are struggling to reach that figure. Houghton says this support is critical.
The money will come from special events funding.