Mayor’s $10M proposal goes to V&T commission today |

Mayor’s $10M proposal goes to V&T commission today

Staff report

The Nevada Commission for the Reconstruction of the V&T Railway will vote on Mayor Marv Teixeira’s proposal to trade train profits for sales tax revenue from Carson City.

The meeting is at 3 p.m. in the Sierra Room of the Carson City Community Center, 851 E. William St.

Carson City would give the commission $10 million through a one-eight of a cent sales tax increase in exchange for 5 percent of the ticket sales under the proposal.

Teixeira has said he plans to put the proposal on the ballot in November for an advisory vote if the commission approves it.

Carson City has so far given $21 million in sales and room taxes to the project that is expected to cost $55 million and be finished in 2011.

Teixeira said the plan would not only recoup the money the city has invested but eventually begin to generate a significant profit.

The 18-mile tourist railroad is under construction and will run from Virginia City to Carson City when completed.