The Rio Nuevo Board will be taking a brief hiatus from large projects due to rotating board members and potential changes due to election season.
The Rio Nuevo Board delegates investment in downtown Tucson. The Rio Nuevo District has seen a decline in revenue due to locals increasingly staying inside.
Rio Nuevo was created in 1999. The District takes in a slice of state-shared funds from sales taxes collected in its territory.
The Board currently has two vacancies, which are expected to be filled after the state elections. Vacancies will be appointed by the Speaker of the House and the Senate President.
The Board will scale back its involvement until the future becomes clearer. Some members would prefer a total pause in activity until November. Others believe it is crucial to maintain some sort of activity and focus on smaller projects.
The initial Republican budget proposal earlier this year would have eliminated the Board. This was then changed after an agreement with Gov. Katie Hobbs.
No action was taken during the August meeting. (Source: Arizona Daily Star)