Carson City-based qualified opportunity zone fund GRASS (Growth Resources, Assets, Safety, & Stability) announced recently the acquisition of Tiger Field airport in Lyon County from the U.S. Bureau of Land Management.
According to a press release, GRASS plans to develop the airfield located 3 miles south of Fernley by “improving the existing airport, creating state-of-the-art aircraft hangars and develop one of the first drone centers in Lyon County.”
As part of the acquisition, the name of the airport has been changed to "SAMSARG Field,” named after SAMSARG, Inc., one of the fund’s aviation-focused investments.
According to a July 14 press release, SAMSARG, Inc., secures high-tech hangar facilities that require focused specifications to service transport and cargo aircraft, including security system installation, additional maintenance and complex compliance documentation.
GRASS launched its Reg A+ funding round on June 15. The fund offers multiple tax benefits to investors because it is both a Qualified Opportunity Zone Fund ("QOZF") and an IRS designated Qualified Small Business Stock ("QSBS"). The minimum investment is $1,000.
