Capitalizing on all available economic fronts, the Washoe Tribe has engaged in “New Market Tax Credits,” to fund the construction and operation of the newly opened and successful “Wa She Shu Travel Plaza,” which opened in April 2016. Situated next to the Wa She Shu Casino, the Travel Plaza is 6,000 square feet and cost nearly $11.78 million to construct, from the ground up. This process involved dedication from the Washoe Tribal Council, Tribal employees, Tribal Committees, and the endless support of our Tribal members. The development of the Travel Plaza on the reservation was the first of its kind in the State of Nevada, and generates approximately 125 jobs in the low-income community. The Clearinghouse CDFI provided key financial resources to the project, including: $10 million of Federal New Market Tax Credit (NMTC) allocation, $2 millions of Nevada State New Market Tax allocation, and a $5.6 million loan to the Washoe Tribe. This unique financial package, which exists well outside the parameters of traditional lending, made this complex, yet viable project a reality.
The new infrastructure, including the Nevada Department of Transportation’s approved access to Highway 395 and inroads to the reservation, was financed through this initial Travel Plaza project. The NMTC was designed to increase the flow of capital to businesses and low income communities by providing a modest tax incentive to private investors. Over the last ten years, the NMTC has proven to be an effective, targeted and cost-efficient financing tool valued by businesses, communities and investors across the country. As a function of the NMTC, the Wa She Shu Foundation was created to increase the effectiveness of addressing the need for non-profit services in Washoe Country.
The Wa She Shu Travel Plaza has marked the one-year anniversary of successful operations in Washoe country and continues to provide C-Store services to the residents and travelers near US HWY 395 S.
Wa She Shu Travel Plaza
1000 US HWY 395 N
Gardnerville, NV 89410
Please visit the Wa She Shu Travel Plaza website at: http://washeshuretail.com/