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SVN | Gold Dust Commercial Associates I 325 W. Liberty Street, Reno, NV 89501 OFFERING MEMORANDUM
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OFFERING MEMORANDUMSVN | Gold Dust Commercial Associates I 325 W. Liberty Street, Reno, NV 89501
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OFFERING SUMMARY
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PROPERTY OVERVIEW
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LOCATION OVERVIEW
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SALE PRICE $1,450,000
LOCATION INFORMATION
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Legislature
Capitol Bldg New Downtown Corridor New Downtown Corridor 2
Supreme Court Tourism Bldg
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arson St S C
arson St
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art St S Stew
art St
318 N Carson St
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Nevada Sate Capitol Bldg Supreme Court of NevadaNevada Legislature
City Hall
Tourism Bldg
Secretary of State
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POPULATION 1 MILE 3 MILES 5 MILES
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HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
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New Downtown Carson City Corridor | Carson Street
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New Downtown Carson City Corridor | Carson Street The downtown corridor construction broke ground on March 7, 2016 and finalized construction on Friday, October 28, 2016, the day before the Nevada Day parade. The Carson Street improvements are to be paid with the one-eighth-percent sales tax adopted in April 2014. With that funding stream, the City was able to take advantage of historically low interest rates and issued $13,600,000 in bonds to pay for the Downtown Corridor, the Athletic Center and the Animal Shelter. The one-eighth-percent sales tax costs a household $12.50 for every $10,000 in taxable purchases. It is estimated that approximately 40 percent of all sales tax revenues is paid by non-Carson City residents. Water and sewer lines in Carson Street—which are more than 50 years old and overdue for replacement—will be replaced using Utility funds that are budgeted for such projects.
The project has multiple benefits for the downtown area, one being able to replace the utilities under the road. The utilities were outdated and therefore costly to maintain and repair. By making the investment now to upgrade them, we hope to preserve them for longer and at a lower cost.
The aesthetic updates have improved the visual appeal and walkability of Carson Street to help promote tourism and visits to the area. Similar projects have shown economic benefits in many communities, including decreased commercial vacancy rates, increased retail sales revenues, increased tourism, increased property values and the public investment has led to private investment well beyond the public investment
The public works department and the Board of Supervisors are dedicated to serving Carson City in any and all capacities. Any and all questions are welcome by contacting the City Engineering Manager, Danny Rotter, at [email protected]. For more information, visit www.carsonproud.com.
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PROFESSIONAL BACKGROUND
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THOMAS Y. JOHNSON, CCIM
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