Authorization of tax increment area.
Reno City Charter, art. VIIA, § 7A.130
in effectSec. 7A.130 - Authorization of tax increment area.
1. Except as provided in subsections 2 and 3 of this section, the City Council, on the behalf and in the name of the City, may at any time designate a tax increment area within the City for the purpose of creating a special account for the payment of bonds or other securities issued to defray the cost of the acquisition, improvement or equipment (or any combination thereof) of a project or projects authorized in the City Bond Law, as from time to time amended (including, without limitation, the condemnation of property for any such undertaking), as supplemented by the Local Government Securities Law, except as otherwise provided in this article.
2. A tax increment area may not be created by the City Council if the total land area of tax increment areas exceeds, or will thereby exceed, 5 percent of the total land area of the City, or if the total initial assessed valuation of tax increment areas exceeds, or will thereby exceed, 5 percent of the total assessed valuation of taxable property situated within the City. As used in this subsection, "initial assessed valuation" means the assessed value as shown upon the assessment roll last equalized prior to the designation of the area.
3. The right-of-way property of a railroad company which is under the jurisdiction of the Interstate Commerce Commission shall not be included in a tax increment area unless the inclusion of such property is mutually agreed upon by the City Council and the railroad company.
(Added—Ch. 460, Stats. 1979 p. 862)
Source: City of Reno, Nevada, Administrative Code, City Charter and Annexation and Land Development Code (Municode Library, library.municode.com)URL: https://library.municode.com/nv/reno/codes/administrative_code?nodeId=PT1RECH_ARTVIIAFITAIN_S7A.130AUTAINARFetched: 11/1/2026