House Bill 2456, the 10-year extension of Rio Nuevo, was signed into law by Governor Doug Ducey on April 5, 2018.
The bill was sponsored by Rep. Mark Finchem, R-Tucson, and overhwlemingly supported by the Arizona House of Representatives and the Arizona Senate. It extends Rio Nuevo’s life from 2025-2035.
“Governor Ducey has had strong ties to Southern Arizona and continues to be a driving force in our economic development initiatives,” said Fletcher McCusker, Chairman of Rio Nuevo.
“We are very grateful to Governor Ducey for his leadership and commitment to Southern Arizona and ensuring there is accountability, while providing the economic development tools to support small businesses and continue to grow downtown and the local economy. Representative Finchem was instrumental in building a bipartisan super majority in both legislative chambers and has helped provide the means to help Tucson’s downtown become one of the best revitalization stories in the country.”
Rio Nuevo has invested $32.5 million of Rio Nuevo Multipurpose Facilities District sales tax revenue returned by the state to launch 20 projects valued at nearly $366 million.
- Governor Ducey Signs Bill Extending Life of Rio Nuevo– April 10, 2018