Rio Nuevo Approves Tightened 2021 Budget

Source: Rio Nuevo  Facing a substantial reduction in next year’s revenue due to COVID-19, the Rio Nuevo Board approved a break-even budget reflecting an estimated $6M reduction in annual state tax revenue. The District has been dramatically impacted by COVID-19 related business closures and the subsequent economic slowdown.   The District ended the year with a little over $6M cash on hand and has elected to hold those funds as a […]