Aaron Smith of Fennell & Associates, Commercial Real Estate Solutions, in Reno, Nevada has just become a member of EDAWN.  EDAWN is the Economic Development Authority of Western Nevada.  Check out their website at www.edawn.org.

The City of Fernley has bee working for approximately 15 months on the creation of a Traffic Impact Fee. The fees would be based on the trip impacts of a particular development on the roadway system of the community. Currently, the Regional Transportation Commission of Reno, Sparks and Washoe County, the City of Sparks, Las Vegas and Mesquite have these fees within our state. In March, a draft recommendation on the proposed costs of these fees to development was presented to the Fernley Capital Improvements Committee. In the area of housing the fees were approximately the same as the RTC Fees for Reno, Sparks and Washoe County. In the commercial area the proposed fees were 3-4 times greater than Washoe County. In the Industrial Area they were greater but not to be the same magnitude. There have been a number of hearings and workshops on these proposed fees since March. Approximately 25 Fernley Landowners and Businessmen are actively fighting these fees along with the Fernley Builders Association. It is the belief of these groups that the fees are too high and would have the reverse effect of generating revenue by stopping the new growth that would pay these fees. It is also apparent that the City of Fernley has no adopted Capital Improvements Program from which individual projects can be selectively chosen and funded as well as no Transportation Master Plan forming the foundation of such a fee.

The business, real estate, development community as well as citizens wanting basic commercial services are concerned that this fee will make Fernley less economically competitive with the surrounding communities here in the middle of a regional recession.

It appears that this discussion will be taking place during the election season from now until October. With the increasing price of gasoline and the drop in housing value many Fernley residents see this proposed fee as a way to truly restrict growth without understanding the true consequences. The next CIP meeting is Wednesday, July 23 at 6:00 PM at the Fernley City Hall at 595 Silver Lace Blvd. in Fernley. If you have any interest in contacting the elected or appointed officials call the city at 784-9830. They do need to hear from the public on this most critical issue. You may also contact Greg Evangelatos with Fennell & Associates, Commercial Real Estate Solutions at 775-850-3104 or 775-412-5455 for more information.

Aaron Smith with Fennell & Associates, Commercial Real Estate Solutions, has recently become a member of the University of Nevada, Reno Alumni Association.

Reno, NV, February 25 – 2008 kicks off with the launch of Fennell & Associates, a new commercial real estate team serving Northern Nevada. While the name is new, the agents of Fennell & Associates have been working for years in the local market as the Dickson Commercial Group.  Fennell & Associates seasoned group of real estate professional’s offers broad based market knowledge, local insight and proven problem solving capabilities with a complete focus on commercial real estate. Veteran brokers Harvey Fennell, Fred Miller, Ron Boles, Tom Young, Ken Focht, and Tom Eberle lead the team. New members of the team include Greg Evangelatos, Aaron Smith, and Cathy Shanks. The group provides local, national and international clients the full array of commercial real estate services with training and accreditation through SIOR and CCIM.  “This team has a really deep understanding of the local market,” explains Managing Broker Fred Miller, “Not only have our individual agents been working in this market for decades, but many have developed very specific expertise in the different sectors of commercial real estate.”  Fennell & Associates serves all sectors of commercial real estate including, Industrial, Office, Retail, Multi-Family Residential, Land Acquisition, Residential and Commercial Development and Investment properties. And they offer the full spectrum of commercial services from listing properties to feasibility studies to consultation on financing. “We’ve enjoyed our relationship with Dickson Realty for the past ten or so years, but we believe we can better serve our clients with a separate company.” said Harvey Fennell, President of the company.  Fennell & Associates’ office is located at 500 Damonte Ranch Parkway, Suite 675 in South Reno. For more information on the team and its agents, contact Fred Miller at 775-850-3115.