Rio Nuevo plans to spend $17.4 million on downtown Tucson projects related to tourism, retail and jobs next fiscal year.
In a split vote Tuesday, the board of the downtown revitalization district approved a $17.4 million projects budget and a $1.4 million operating budget for the fiscal year beginning July 1.
On the list, Rio Nuevo’s spending plans include:
- $4.3 million on a parking garage for a new hotel on Broadway.
- $3.7 million to renovate the Tucson Convention Center Arena to get it ready for the Arizona Coyotes minor-league hockey team.
- $2.2 million to expand the Mercado San Agustin retail center west of downtown.
- $2 million to help Caterpillar establish a regional headquarters here.
At the request of board member Cody Ritchie, the board reduced its planned spending on marketing and public relations from $238,500 to $205,000, making it about 15 percent of Rio Nuevo’s operating budget.
“We do have a lot of good momentum, but I think we have to be good stewards of taxpayer dollars,” Ritchie told the board.
Board members Jannie Cox and Edmund Marquez argued the money would be well spent to bring additional visitors to downtown Tucson , which in turn increases the sales tax revenue that comes to Rio Nuevo.
The last-minute change in the marketing budget caused the board to vote 3-2 to approve the budget. Ritchie, Fletcher McCusker and Mark Irvin voted yes. Cox and Marquez voted no. Chris Sheafe abstained. Jeffrey Hill was absent.
