Presentation on Lake Tahoe Events Center February 27

STATELINE, Neve - The Douglas County Board of County Commissioners will hear a presentation from the Tahoe Douglas Visitors Authority (TDVA) on the Tahoe South Events Center Project during their February 27 board meeting which starts at 1:30 p.m.

The presentation will include project updates, status and all project-related studies, the Tahoe Regional Planning Agency (TRPA) approval process and related transportation funding requirements, financing package from all funding sources, and the proposed pledge by the Douglas County Redevelopment Area No. 2 (RDA #2).

The meeting will be at the Tahoe Transportation Center Tahoe, 169 Highway 50, Stateline, Nevada.

Overflow for public viewing and seating will be in the courthouse across the parking lot. Video live-streaming of the event will also be available with a link to be provided closer to the date.

Financial Impacts for Douglas County and the Community

The total proposed RDA #2 tax increment pledge agreement contribution to the Event Center is for $34.25 million in current and future increment through 2045. TDVA will issue debt for the project. The Redevelopment Agency will be asked to enter into a current and future tax increment pledge agreement. Through the agreement RDA No. 2 would pledge up to $1.3 million each year of available tax increment. If TDVA defaults on the bond neither RDA No. 2 nor County would be liable. TDVA assumes all liability.

Studies commissioned by TDVA, among other things, determine the financial and community benefits of the project. Once the Event Center is operational increases in hotel, restaurant, entertainment and retail spending are expected to outweigh the cost of the project by at least 25 times through 2045. The County will also benefit financially with increases of at least $1 million per year annually in local revenue that can be used for county-wide services and projects such as parks, recreation, senior center, and library. For Tahoe Township services and projects including transit, snow plowing, pedestrian and road facilities.

RDA #2 Website and Information Resources

The previously constructed webpage was updated to provide the public with additional information related to RDA #2 and the event center. The webpage includes answers to Frequently Asked Questions (FAQs) and the history of why, when and how RDA #2 was established. In addition, the webpage contains links to RDA#2 related materials provided to the Douglas County Board of County Commissioners and the public for consideration since 2009.

To view the county webpage visit: https://www.douglascountynv.gov/cms/one.aspx?portalId=12493103&pageId=15724503

To view the TDVA webpage, visit: https://ltva.org/event-center/

Douglas County Redevelopment Area No. 2 (RDA #2) was created in 2016 primarily to aid the county in achieving a desired strategic planning goal to “work with local partners and stakeholders to initiate the development of a year-round conference/entertainment venue at Lake Tahoe (within Douglas County).”

For additional questions or concerns regarding this information please contact the Douglas County Manager’s Office at 775-782-9821.