TUCSON, Ariz. (KGUN) — The Rio Nuevo Board has approved a $15 million budget for next year.
Board members say the budget for the fiscal year staring Friday, July 1, and ending June 30, 2023, was approved unanimously.
This will give Tucson approximately $1.25 million to work with each month.
Rio Nuevo told KGUN 9 the board hopes to use about $3 million to invest in downtown projects.
Board members also announced the following:
- Numerous food and beverage assistance projects
- Spending $300,000 to remodel and manage the former 1055 restaurant
- Approved incentives to convert The Candence student housing to market rate apartments
- May help owners of the Boxyard on 4th Avenue launch a similar operation at 6th Avenue and Broadway
Chairman Fletcher McCusker said during a meeting, "If you want to open a restaurant in downtown Tucson, come see us, we will help you."
RELATED: Coming soon - TABU Restaurant and Bar at 128 E. Congress St.
——-
Caleb Fernández is a digital content producer for KGUN 9. After earning his bachelor's degree from Penn State in Advertising/Public Relations, Caleb went to New York where he learned production assistance, photography and art direction. Share your story ideas and important issues with Caleb by emailing caleb.fernandez@kgun9.com or by connecting on LinkedIn, Instagram, and Twitter.
