Business Incentives

Downtown Business Assistance

Provides business owners with project coordination assistance and/or financial aid when undertaking remodel work within existing buildings required to satisfy certain building, fire and life safety code requirements within the city’s Redevelopment Areas. Redevelopment projects may be eligible for limited financial reimbursement ($20,000 maximum) from the city for qualifying improvements. Applications for program funding are required before any work is started. The program funding is limited each year, and reimbursement funds are awarded on a first-come, first-served basis. View the Program Manual for more information. 

Retail Downtown Las Vegas

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

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.

New Markets Tax Credits

The New Markets Tax Credits program assists with approximately 20 percent of a project’s expense and enables a developer to receive low-cost, flexible financing. To qualify, a project must be located in and benefit a low-income community census tract (determined by the U.S. Treasury). The city is interested in assisting owner-occupied commercial real estate projects, particularly those involving manufacturing, mixed-use, education and health care. A typical project cost would total between $5 and $15 million. For more information view this brochure.

Overview

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.

Residential Interior And Exterior

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:

• Located within one of the city’s Redevelopment Areas in tax districts 203, 204, 207, 212, 213 or 214.
• Zoned for commercial, industrial or mixed-use operations.
• Free of all mechanics’ liens.
• Properties with more than four units for rent within the same building or property footprint.
• Owner must invest a minimum of $20,000 per unit of overall project costs.
• Only existing multifamily residential properties, existing mixed-use properties or existing commercial buildings being converted to multifamily residential (either solely or as a mixed-use project) are eligible.

View the Program Booklet and Appliction. For more information, please email Eric Bordenave at ebordenave@LasVegasNevada.GOV.

Program Details

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:

• Must be located within the city’s Redevelopment Areas 1 or 2.
• Comply with at least two of the following:
  • Offer at least 7,000 square feet of leasable space;
  • Undergo at least $20 per square foot of improvements;
  • Provide 20 verifiable full-time jobs within the space.
• There must also be a lease with at least five years remaining.

Final authorization requires approval by the Las Vegas City Council. View the Office Tenant Incentive Program Guide and Application.

Program Details

The Visual Improvement Program offers qualifying business owners within the city’s redevelopment areas a rebate of 50 percent for the pre-approved costs involved in substantially upgrading the exterior appearance of their establishment and bringing it up to current building and property code standards (up to a maximum of $25,000). Final authorization requires approval by the Las Vegas City Council.

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.