return to Rio Nuevo District website
Río Nuevo Multipurpose Facilities District / Quick Facts
- The Rio Nuevo Multipurpose Facilities District is a tax-levying public improvement district and a legally separate entity from the City of Tucson created to revitalize downtown Tucson.
- The Rio Nuevo Multipurpose Facilities District (District) was formed in July 1999 through an Intergovernmental Agreement (IGA) by and among the Arizona municipalities of the City of Tucson, the Town of Sahuarita, and the City of South Tucson, Arizona.
- Voters approved the Rio Nuevo Multipurpose Facilities District (District), located in the City of Tucson, on November 2, 1999 through passage of PROPOSITION 400: THE RIO NUEVO MULTIPURPOSE FACILITIES DISTRICT.
- District Boundaries = Areas within corporate boundaries of participating municipalities
- Multipurpose Facilities Site = Barbell-shape area along Broadway from west of I-10 to Park Place
- The formation of the District authorized the District to receive a portion of the State’s transaction privilege tax (TPT); this is known as Tax Increment Financing (TIF).
- Although the District was formed in 1999, state TPT revenues, or TIF funding, did not begin until 2003 when the District met the statutory requirements for acquisition and the commencement of the construction of improvements to a qualifying multipurpose facility. The Tucson Convention Center is the qualifying multipurpose facility in the District.
- In 2006 House Bill 2702 was passed. This revised A.R.S. § 45-5031, Distribution of Multipurpose Facility Revenues to the district extending it twelve more years with continued revenue distributions until July 1, 2025.
(to view detailed information on Revenue Sources, click on pie segment or text)
(to view detailed information on Project Related Expenditures, click on pie segment or text)