medical district, incentives, business
The Retail Downtown Las Vegas Program assists retailers with finding locations and aids developers, commercial brokers and property owners with recruiting high-quality retail tenants in the city’s core.
For more information about the program and/or to set up an introductory meeting, please email Julie Quisenberry jquisenberry@LasVegasNevada.GOV.
Tax Increment Financing (TIF) provides rebate incentives for key infrastructure costs for retail., hotel, mixed-use and high-rise residential projects located within the city of Las Vegas Redevelopment Areas 1 and 2. Offered by the Las Vegas Redevelopment Agency.
Expenditures qualifying for TIF rebates may include street construction, gutters, water lines, storm drainage facilities, traffic signals, paving, sidewalks, flood control improvements, utilities and other infrastructure costs. To determine the tax increment for a specific project, the RDA assesses the current property value before any development begins. As the project progresses the property value naturally increases, creating additional property tax – this increase is the tax increment for the project. A portion of the individual project’s tax increment can be rebated annually to the property developer for qualified construction expenditures. Please view the TIF Application document.
The Las Vegas Medical District Incentive Program provides a qualified property owner and/or business owner financial assistance for undertaking the interior and exterior rehabilitation, renovation and/or expansion of commercial or industrial properties for designated targeted industries relocating or expanding in specific areas of the district. The program rebates expenses — up to a maximum of $50,000 — of a project’s renovation/conversion/expansion costs for qualifying industries in the designated areas.
View the incentives booklet and application.
This program provides qualifying property owners with financial assistance for substantial rehabilitation and renovation of multifamily residential properties, substantial upgrades to properties that have changed ownership and conversion of office/retail/industrial properties to multifamily residential located in the city’s redevelopment areas. This program addresses both interior and exterior improvements.
Property Requirements:
View the Program Booklet and Appliction. For more information, please email Eric Bordenave at ebordenave@LasVegasNevada.GOV.
The Office Tenant Incentive Program provides qualifying business owners/landlords rebates for pre-approved costs involved in substantially upgrading the interiors of older office facilities to make them more competitive (up to maximum of $50,000). The property must be located in the city’s redevelopment areas.
Property Qualifications:
Final authorization requires approval by the Las Vegas City Council. View the Office Tenant Incentive Program Guide and Application.
Interior work will not qualify. Improvements may be made to signs, building facades and exteriors. Work that qualifies for reimbursement includes painting, extensive cleaning, facade and window repair/replacement, new doorways, lighting, new signage, window tinting, replacing awnings, permanent landscaping, parking lot and rear access improvements and renovations, and exterior security systems.
View the VIP Program Guide and Application.
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