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Feb 7, 2013 2:53 PM by Van Nguyen

Rio Nuevo reaches agreement with city to end lawsuits

TUCSON - The city of Tucson and the Rio Nuevo board may finally be able to set aside all their differences and move forward after the city council approved the latest plan offered by the board.

Tucson Mayor Jonathon Rothschild explained the agreement at a news conference Thursday morning.

He says the board wants to get rid of all lawsuits and property disputes between the two sides.

The board is proposing to spend more than 6 million dollars to fix up the Tucson Convention Center.

The agreement states the board will give the city ownership of the Depot Garage and it will fund projects that support the Mission Gardens.

Mayor Rothschild says the agreement is a long time coming.

He says it'll allow them to put the past behind.

The Mayor said, "No two sides got what it wanted. But in my experience, that's a good sign that reason has prevailed. I'm pleased with the agreement and the clear delineation of responsibility and obligations past and present it sets forth."

Voters passed Rio Nuevo in 1999.

The board promised to revitalize downtown, but after spending $230 million of taxpayers money with little to show for it, the legislature took control in 2010.

We'll have more on this story at 5pm.

To read the agreement, click here.

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