Former Arizona Coyotes owner terrorizes taxpayers with sports project proposal
Alex Meruelo used to be the owner of the Arizona Coyotes and despite that team's failures, he remains in the public eye as he seeks public funding for his latest endeavor.
Meruelo and some other investors are looking to build a special arena complex in Reno, Nevada at the Grand Sierra Resort. Initially, it was stated that they would not need public funds. However, Meruelo has gone back on that promise. They believe that this project will help the area greatly and they are firm believers that their $1 billion plan is worthy of taxpayer dollars.
The Reno Redevelopment Agency board is being tasked with processing the request for tax increment processing. Power Sports Development, the group behind this new project, has formally requested the financing and has even created a full agenda for the move. It is asking for tax revenues in the area to go towards this development. If they can get the approval, it is believed that this will all go through.
This arena is supposed to have 10,000 seats and will be the home of the University of Nevada men's basketball team. Furthermore, there is supposedly going to be a minor hockey league team that will use the arena as well. However, that has yet to be confirmed as a team needs to be created first.
Only time will tell whether or not this new complex actually gets made and whether or not the residents in the area take advantage of it. Meruelo already has egg on his face from the disaster that was the Arizona Coyotes. It is hard to believe this new project will be any better.
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Source: Blade of Steel
Ex-Coyotes Owner Alex Meruelo Seeks Public Funding for Ambitious New Sports Project
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