CVB helps cover V&T bond shortfall

The Carson City Convention and Visitors Bureau voted Monday to help Carson City cover the annual V&T railroad bond payments.

"Again, we find ourselves in the position where the sales tax has not generated enough revenue to cover debt service on the V&T bonds," City Manager Larry Werner told the CVB board.

The bond payments total about $1.1 million a year.

Werner pointed out the amount needed - $60,000 - is less than it was in the past two years. Two years ago, it was $100,000; last year the bureau had to contribute $150,000.

Molly Walt, a supervisor as well as member of the CVB board, asked where the money would come from if they didn't approve the payment. Werner said it would have to come out of Carson City's General Fund.

He said there will be a total shortfall next year of between $1.75-$2 million.

"We need to come up with a long-term solution," he said.