The Reno Air Racing Association has received a waiver from the Federal Aviation Administration to hold the 49th Reno National Championship Air Races in September, but the association still needs to raise $1 million to secure insurance for the event, KRNV News 4 reported Thursday.
Mike Houghton, president and CEO of the association, plans to appear before the Reno-Sparks Convention and Visitors Authority Finance Committee at 8 a.m. today to seek additional funding from the tourism organization, KRNV reported.
The RSCVA agenda packet does not detail how much additional funding is being sought.
Reno Air Races officials could not be reached for comment Thursday evening.
Houghton told KRNV that he remains optimistic the funds will be raised.
“It is a lot of money, but our board is committed, our staff is committed, our fans are committed and we’re going to do everything we possibly can to make sure we can make that payment,” he said.
The air racing association has raised about half of the $2 million needed to cover the insurance premium for this year’s event and is facing a Sept. 1 deadline to secure the remaining funds, KRNV reported.
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