The Rio Nuevo board agreed to invest up to $512,000 to help Empire Pizza expand into the vacant Hydra space immediately next door. Empire Pizza estimates its revenue will triple in the new combined location, after a million dollar-plus renovation, with half coming from Rio Nuevo.
The board also agreed to master lease the property formerly known as The Crescent Smoke Shop, also vacant for a few years, and improve the property with an approximate $250,000 investment in order to seek a new tenant for that very important corner.
Finally, the district approved an option to purchase, with terms yet decided, so it can control the property known as The Indian Trading Post, on the corner of Scott and Congress. Rio Nuevo would then solicit nationally for a new operator to take over the vacant space and pay $1.5 million for the property.