Check back tomorrow to see for yourself how it was rammed through….
Rio Nuevo Extension Expected To Be Rammed Through House Despite Opposition
According to the 2016 performance and financial analysis of the Rio Nuevo Multipurpose Facilities District, “when considering the District’s ability to undertake currently unbudgeted projects that would substantially improve the design quality and performance of the TCC (i.e., the full renovation of the TCC and additional hotel development); it does not appear as though the District’s financial position would be sufficient to maintain solvency and cover the costs of construction.”
The Rio Nuevo Multipurpose Facilities (stadium) District was supported by southern Arizona residents in 1999 in an effort to revitalize down town Tucson. The District was tasked with building a stadium and a hotel and a handful of cultural projects.
After squandering over $200 million on nearly everything but projects the voters approved, the Arizona Legislature changed the terms agreed to by the voters and extended the life of the District.
Last week, in front of the Arizona House Of Representatives’ Ways and Means Committee, Rep. Mark Finchem defended his bill, HB2456, which will extend the life of the District to 2035 and beyond.