Lawmakers vote to help fund pipeline for industrial park
RENO, Nev. (AP) — Lawmakers have agreed to help tech companies at a northern Nevada industrial park pay for a 13-mile (21-kilometer) pipeline that will carry water to the area.
The Reno Gazette Journal reported Thursday that the Interim Finance Committee voted unanimously in favor of authorizing $35 million in bonds to finance the project.
Storey County, where the Tahoe Reno Industrial Center is located, would issue the bonds which would then be purchased by the state.
The industrial park hosts tech giants such as Tesla, Google and Switch.
Companies benefiting from the pipeline will be expected to repay the cost through a special assessment district.
Paul Anderson, director of the Nevada Governor’s Office of Economic Development, says the proposal was sent to the Storey County Commission which will need to approve another ordinance to move the project along.
Information from: Reno Gazette-Journal, http://www.rgj.com