Redevelopment. What is redevelopment? It is more than putting a new building in where a run-down building had previously been. According to the Nevada Revised Statues (NRS) Redevelopment is defined as “the planning, development, re-planning, redesign, clearance, reconstruction or rehabilitation, or any combination of these, of all or part of a redevelopment area, and the provision of such residential, commercial, industrial, public or other structures or spaces as may be appropriate or necessary in the interest of the general welfare” but what does that mean? Each city or county can define a redevelopment area(s) within their jurisdiction which can include buildings, streets, recreational or public areas, open space and streets or other public grounds.
Redevelopment areas are created by each jurisdiction in areas of “blight” to capture real estate tax funding to help improve the area for a period of time. A blighted area is one where the buildings or structures are no longer safe, functional or fit for the purposes they were intended for. In some cases, they may also add to the transmission of disease or crime due to several potential factors. The redevelopment areas are created with the thought of improving the general welfare for the community through the help of funding and more lenient zoning. Each of the cities in Southern Nevada contains at least one redevelopment area or district; the county currently does not.
In most of the jurisdictions in Southern Nevada, money is captured through property tax increases for property located in the redevelopment area/district. You do not actually pay more in property taxes for being a part of the redevelopment area/district. How this works is that the city looks at the current value of the land versus the projected value after the redevelopment area/district is established. The difference in values is what the jurisdiction uses to determine how much funding they have for their redevelopment area/ district. Funding to improve the district can then be passed on to individuals (or companies) that are trying to develop a project in the redevelopment area/district. Funding may be used for signage, architectural features, enhancements, etc. to assist the project in meeting the goals of that redevelopment area/district. Funding in redevelopment areas/districts is not guaranteed and has to go through an approval process.
G.C. Garcia has completed projects in many of the redevelopment areas/districts in Southern Nevada, and obtained redevelopment approvals and funding for those projects. If you have questions on a potential project you within in a redevelopment area/district in Southern Nevada please contact us to assist you with plan approvals, permitting, and funding assistance.
Some redevelopment projects that GC Garcia Inc has been involved with are:
Cornerstone Redevelopment District Design Guidelines and Standards- Cornerstone is a hundred acre mixed use master plan with commercial, residential and recreational development.
City of Henderson Downtown Investment Strategy- George Garcia while at the City of Henderson assisted the City with the development and implementation of the Downtown Investment Strategy.
Shurtleff Medical Building- A multi-story medical building built to the Henderson Water Street District Standards with the Moderne Design.
Dotty’s Casino – Two neighborhood casinos located in the North Las Vegas Redevelopment Areas.
Medical Marijuana – A dispensary in the downtown in North Las Vegas Redevelopment Area
City of Las Vegas expansion of The Downtown Redevelopment Area & Redevelopment Area II- Doug Rankin while at the City of Las Vegas managed and over saw the expansion of the Downtown Redevelopment Area and the addition of the Redevelopment Area II which added the Las Vegas Medical District amongst others. In both cases this included a blight study and land use plan.