City agency: Balance needed between Silver Peak, taxpayers

The City of Reno's Redevelopment Agency hopes to keep Silver Peak Grill and Taproom as a tenant at 135 N. Sierra St. in its Parking Gallery building but a representative of the agency says the city also needs to balance its responsibility to taxpayers.

Trent Schmidt, co-owner of Silver Peak, said last month the restaurant might leave the location if it's unable to win rent concessions from the city.

"Although we cannot comment on the specifics of ongoing negotiations with the Silver Peak, we can say that we've tried to be as accommodating to the tenant's requests as possible but haven't come up with a solution that makes sense for both parties yet," said Adam Wexelblatt, a retail sales associate with Colliers International in Reno who represents the redevelopment agency.

He said the redevelopment agency needs to balance its fiduciary duties to taxpayers with the economic benefit to the downtown area that comes from the Silver Peak location.

"Regardless of the outcome of these negotiations our goal is to have a vibrant restaurant in the space as a downtown Reno attraction for years to come, and we're very confident we will be able to achieve that goal either way," Wexelblatt said.