Annual Report of City of Reno Tourism Improvement Districts (TIDs) FY 2022/2023

(

-

Page

I

of

3

Vicki

VanBuren

Finance

Director

(775)334-3831

vanbruenv(S)reno.gov

RENO

August

31,

2023

Brenda

Erdoes,

Director

Nevada

Legislative

Counsel

Bureau

401

S.

Carson

Street

Carson

City,

Nevada

89701-4747

Re:

Annual

Report

of

City

of

Reno

Tourism

Improvement

Districts

(TIDs)

FY

2022/2023

Dear

Ms.

Erdoes:

The

City

of

Reno

is

providing

the

following

information,

which

outlines

the

status,

and

fiscal

impact

of

Tourism

Improvement

Districts

that

have

been

established

within

the

City

limits

pursuant

to:

NRS

271A.105

Annual

report

to

Legislature

by

municipality;

semiannual

report

to

Legislature

by

Department

of

Taxation;

exception.

1.

On

or

before

September

1

of

each

year,

the

governing

body

of

a

municipality

that

creates

a

district

before,

on

or

after

July

1,

2011,

shall

prepare

and

submit

to

the

Director

of

the

Legislative

Counsel

Bureau

for

submission

to

the

Legislature,

or

to

the

Legislative

Commission

when

the

Legislature

is

not

in

regular

session,

an

annual

report

containing:

a.

A

statement

of

the

status

of

each

project

located

or

expected

to

be

located

in

the

district,

and

of

any

changes

in

that

status

since

the

last

annual

report.

b.

An

assessment

of

the

financial

impact

of

the

district

on

the

provision

of

local

governmental

services,

including,

without

limitation,

services

for

police

protection

and

fire

protection.

The

City

of

Reno

has

three

(3)

Tourism

Improvement

Districts:

Cabela's:

Cabela's

was

created

in

September

2006

in

Reno

Redevelopment

District

No.

2.

It

is

located

adjacent

to

Interstate

80

near

the

California

border,

west

of

Garson

Road

and

Boomtown

Hotel

Casino.

Resolution

231

was

adopted

by

the

Reno

City

Council

on

June

14,

2017

which

authorized

the

issuance

of

"Redevelopment

Agency

of

the

City

of

Reno,

Nevada,

Redevelopment

Area

No.

2,

Tax

Increment

Refunding

Bonds

(Taxable)

Series

2017",

and

the

execution

and

delivery

of

documents

relating

thereto.

1.

The

project

is

comprised

of

a

129,000

square

foot,

$51

million

destination

retail

store

with

a

big

game

Cabela's

opened

in

November

2007

and

had

an

estimated

$324

million

one-time

impact.

museum.

P.O.

Box

1900

•

Reno.

NV

89509

•

(775)

334-2400

•

(775)

334-2097

Fax

•

Reno.gov

Page

2

of

3

including

the

creation

of

234

permanent

jobs

and

486

temporary

construction

jobs

Between

November

2007

and

June

30,

2023,

Cabela's

generated

$25,202

726

in

sales

tax

proceeds

for

payment

of

debt

Freight

House

The

Freight

House

District

was

created

in

September

2009

in

Reno

Redevelopment

District

No

2

It

is

located

in

the

southeast

part

of

the

downtown,

from

the

Truckee

River

to

just

north

of

East

Fourth

Street,

east

of

Virginia

Street

The

district

includes

the

former

RTC

CitiCenter

Transit

Center,

the

National

Bowling

Stadium

the

RTC

Fourth

Street

Transit

Station,

vacant

properties

between

Lake

Street

and

Evans

Avenue

west

of

the

Triple-A

baseball

stadium,

300

East

2"“*

Street

Office

Tower,

the

Greater

Nevada

Field

Triple

A

baseball

stadium,

vacant

property

east

of

the

National

Automobile

Museum

on

the

south

side

of

the

Truckee

River,

and

the

Reno

Police

Department

station

on

the

north

side

of

the

River

Below

IS

a

list

of

all

businesses

that

collect

sales

taxes

and

were

operating

within

the

Freight

House

District

as

of

June

30,2023

2

Levy

Restaurants

at

Aces

Ballpark

Mellow

Fellow

MYNTCannabis

Dispensary

NV89

Park

Center

Tower

LLC

Reno

Aces

(Team

Shop)

Rita's

Italian

Ice

&.

Frozen

Custard

SK

Baseball

Ballpark

Management

LLC

The

Jesse

Thunderbird

Motel

Wrightway

Market

•

250

Lounge

•

Ballpark

Lane

Executive

Suites

•

Basin

Street

Properties

•

Bay

Equity

Home

Loans

•

Biggest

Little

Creamery

•

Bugsy's

Sports

Bar

8iGrill

•

Clear

Capital

•

Courtyard

Reno

Downtown

•

Estella

•

Forged

Coffee

•

Good

Hops

•

L/P

Insurance

Services

Inc

•

Las

Vegas

Bowling

Supply

•

LegalMatch

com

The

Aces

Baseball

Stadium

opened

in

April

2009

Reno

1868

Football

Club,

a

United

League

franchise,

began

operating

in

April

2017,

but

has

since

folded

Between

April

2009

and

June

30,

2023,

the

Freight

House

District

generated

$7,552,399

in

sales

tax

proceeds

for

payment

to

the

Washoe

County

School

District,

Nevada

Land,

and

the

Reno

Redevelopment

Agency

Tessera

The

Tessera

District

was

created

in

September

2009

in

Reno

Redevelopment

District

No

2

It

is

located

on

the

east

side

of

the

downtown

core,

in

an

area

roughly

bounded

by

Interstate

80

to

the

North

5th

Street

to

the

South,

Record

Street

to

the

East

and

Virginia

Street

to

the

West

The

proposed

project

was

intended

to

reconnect

downtown

and

the

University

of

Nevada

campus

by

reestablishing

a

direct

connection

from

the

north

end

of

Lake

Street

to

Morrill

Hall,

at

the

southern

edge

of

the

campus

The

development

was

planned

to

be

mixed

use,

including

residential

units,

parking,

health

facilities

and

retail

development

that

would

serve

both

students

and

downtown

visitors

It

would

also

include

office

space

so

that

some

or

all

of

the

region's

six

(6)

industry

clusters

(e

g

software

and

clean

energy

firm

headquarters,

transportation

and

logistics-related

businesses)

could

locate

proximal

to

the

University

in

order

to

facilitate

commercialization

of

new

products

and

training

of

future

graduates

3

service

P

O

Box

1900

•

Reno

AT

89:i09

•

(773)

334

2400

•

(773)

334

2097

Fax

•

Reno

gov

Page

3

of

3

To

date,

only

two

projects

have

materialized.

The

first

project

was

associated

with

Apple,

Inc.

The

Reno

City

Council

approved

Amendment

No.

2

to

Reimbursement

Agreement

(Tessera

District)

on

May

10,

2017

that

revised

the

assignment

and

leasing

arrangement

contemplated

in

Amendment

No.

1

to

permit

Apple,

Inc.

to

purchase

approximately

half

a

city

block

of

land

(APN

007-303-01)

from

the

Developer.

Apple

constructed

a

30,000

square

foot

purchasing

and

receivingfacilit

y

to

support

their

operations.

The

second

project

was

a

student-housing

development.

Canyon

Flats,

which

provided

158-units

providing

housing

up

to

508

students.

Below

is

a

list

of

all

businesses

that

were

operating

within

the

Tessera

District

boundaries

as

of

June

30,

2023:

•

Apple,

Inc.

Between

January

2019

and

June

30,

2023,

the

Tessera

District

generated

$11,314,709

in

sales

tax

proceeds

for

payment

to

Apple,

Inc.

There

has

been

no

adjustment

to

the

level

of

City

services,

including,

without

limitation,

services

for

police

and

fire

protection

pursuant

to

any

of

the

three

(3)

established

TIDs.

While

there

may

have

been

increased

sporadic

service

responses,

which

resulted

from

the

two

(2)

active

TIDs,

the

City

is

responsible

to

make

available

the

necessary

municipal

services

that

are

provided

to

all

areas

within

the

City's

boundaries.

The

City

is

unable

to

attribute

any

financial

impacts

the

provision

of

local

governmental

services

to

Cabela's,

the

Freight

House

District,

orTessera

TIDs.

5hould

you

have

any

questions

regarding

this

annual

report,

please

contact

me

at

(775)

334-3831

or

via

email

at

vanburenv(5)reno.gov.

Sincerely,

Vicki

VanBuren

Finance

Director

P.O.

Box

1900

•

Reno.

NV

89509

•

(775;

334-2400

•

(775)

334-2097

Fax

•

Reno.gov