The city of Las Vegas will receive $28 million in New Markets Tax Credits to encourage investments in low-income and under-served communities.
The Treasury Department’s program provides investors with a tax credit for putting their money into low-income communities through community development entities.
The allocation was obtained through the efforts of Senate Majority Leader Harry Reid.
“The city is the only entity in the state of Nevada to be receiving such funds this year. I want to thank Senator Reid for supporting us on this application, which will result in helping to create new jobs for those in our community,” Mayor Carolyn Goodman said in a news release.
The city will be hosting a free seminar for developers to learn more about the program Wednesday, July 30, from 3 to 6:30 p.m. at the Historic Fifth Street School at 401 S. Fourth St. in downtown Las Vegas. For more information, email firstname.lastname@example.org.