The Rialto Theatre renovation was an early Rio Nuevo success.
By Becky Pallack | Arizona Daily Star
Rio Nuevo wants to buy out the city’s stake in an agreement to develop 14 acres on the west side of downtown.
Rio Nuevo, a special taxing district whose purpose is to develop downtown Tucson, proposes to pay the city about $1.2 million.
That’s the amount the city would receive if it decided developer Gadsden Co. has defaulted on a performance bond tied to the agreement.