(Reno, NV) — The city of Reno will allow tax increment financing for the Grand Sierra Resort’s massive expansion project. That’s after the Reno City Council approved a motion on Wednesday. The tax increment financing will reduce some property taxes that the expansion will generate and allow them to be reinvested into the project. The expansion will include the construction of a ten-thousand-seat arena that will serve as the new home of the University of Nevada, Reno men’s basketball team. The motion includes 61-million dollars in tax incentives for the arena project. Plans also call for the construction of more parking, a community ice rink and aqua golf.