Reno Aces stadium refinance deal approved

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Updated: 11/08/2012 2:29 pm

RENO, Nev. (AP) — Despite some concerns the city can't afford it, the Reno City Council has narrowly agreed to spend $1 million on a refinancing deal for the Reno Aces baseball park to make sure the Triple A team don't leave town.

The council voted 4-3 Wednesday to take the money from the general fund to refinance a $55 million construction loan used to build the riverfront stadium, which opened in 2008.

Backers say the home to the Arizona Diamondbacks Pacific Coast League affiliate is a boost to nearby businesses as well as Reno's quality of life.

Critics say it's a luxury at a time the city is still struggling to pay police and firefighters.

Under the new deal, the Aces can't leave Reno for 30 years as long as payments are current.

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Information from: Reno Gazette-Journal, http://www.rgj.com

 

©2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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