Everyone thought the days of the Arizona Coyotes and Alex Meruelo were over, however, the billionaire has returned and is seeking money for a new team. Developers behind a major arena project at Reno's Grand Sierra Resort are working to seek public financing to help pay for it, a complete flip from previous statements that no public funding would be involved. The University of Nevada, Reno President Brian Sandoval earlier ruled out saying the project would move ahead without taking or needing any public dollars. Yet, this change in approach might bring new dynamics into the development process as it goes along. <div align='center'><blockquote class='twitter-tweet' data-lang='en'><a href='https://twitter.com/BenMargiott/status/1848839493304058006'> </a></blockquote></div> Documents released ahead of last week's Redevelopment Agency Board meeting showed that Power Play Development has applied for tax increment financing to support the billion-dollar arena project. TIF is a public financing tool in which a future increase in property taxes generated by the project would be used to help subsidize part of its construction costs. The financing tool allows developers to borrow against projected revenue increases as a way to fund major infrastructure projects. It was called the Nevada Arena, which would have been the home court for the Nevada men's basketball team, and possibly an AHL hockey team owned by Alex Meruelo, <a href='https://www.hockeylatest.com/nhl-team/arizona-coyotes/arizona-coyotes-owner-alex-meruelo-finally-addresses-relocation' class='lien_marqueur' target='_blank' rel='noopener'>former Arizona Coyotes owner</a> as well as the owner of the Grand Sierra Resort in Reno. Plans called for a 10,000-seat arena, a satellite ice rink, a dedicated parking structure, a fan zone, and workforce housing, among other amenities. This project is envisioned to be a boom not just for the sporting world but also to add more zing to Reno's evolving entertainment and tourist spot. <div align='center'><blockquote class='twitter-tweet' data-lang='en'><a href='https://twitter.com/Smuca84/status/1848910246439489658'> </a></blockquote></div> City officials have said <a href='https://www.mynews4.com/news/local/developers-seeking-public-financing-arena-project-reno-grand-sierra-resort-city-council-nevada-wolf-pack-arena' class='lien_marqueur' target='_blank' rel='noopener'>the Grand Sierra Resort project</a> qualifies as what is referred to as a catalyst project, meaning it would spur significant economic development and, in turn, could be TIF-eligible. The city council, which also serves as the Redevelopment Agency Board, will debate the proposal at Wednesday's scheduled council meeting. The approval to move forward would mark initial steps in defining how any public financing could be shaped and what deal points might include. While no final agreements have been made, this initial discussion will help to shape the negotiation process between the city and the developers. The outcome may be a formal deal of public support for the development of the arena, pending further due diligence and discussions of the results. The decision therefore stands as an important milestone in the journey of the project and will affect its future financial framework.