City to help businesses breathe new life into vacant buildings

In an effort to continue economic growth in downtown Las Vegas, the city of Las Vegas recently announced its Quick Start program, providing incentives for businesses to move into redevelopment areas.

Buildings within the downtown redevelopment area and the recently designated second redevelopment area - along Decatur Boulevard between U.S. Highway 95 and Sahara Avenue - are among the oldest in the valley, said Bill Arent, Las Vegas' economic and urban development director.

Any vacant building in those areas is eligible for the program ­- buildings such as the old cleaners at Sixth and Fremont streets or the former home of The Attic, 1018 S. Main St. Businesses that move into such buildings would receive financial assistance from the city to bring them up to code.

Arent said that for every $4 a business spends in renovation costs, the city will chip in $1 up to a maximum of $50,000.

The cash incentive helps to dull the potential sticker shock associated with purchasing downtown property and bringing it up to code , Arent said, but the city wins out, too.

"This should provide new revenue to the city," Arent said of the money that would be generated from sales and property taxes. "We also hope to have a higher success rate for these new businesses."

The city has allocated $500,000 for the program, with a goal of helping at least 10 businesses in each of the two redevelopment areas.

Las Vegas Chamber of Commerce spokeswoman Cara Roberts said the chamber is in favor of the program.

"(This program) is a real opportunity to stimulate the growth of that area," she said. "It's something tangible."

Roberts added that the chamber is supportive of the start-up tech community finding its feet in the downtown area.

"These smaller businesses locating and expanding down there creates an energy and momentum in the core of the community," she said. "As we talk to young businesses and entrepreneurs looking for resources, we can point to programs like this."

In addition to cash incentives, the Quick Start program has set up what Arent referred to as a "rapid response team," made up of fire and building inspectors and members of the Las Vegas Business Licensing Department.

"The rapid response team would walk the property with them to help give an accurate estimate of what it could cost," Arent said.

Where appropriate, building officials would look at alternative methods of bringing a building up to code in order to keep up-front capital costs "as small as possible," Arent said, adding that renovations to such buildings can cost more than a half-million dollars.

"Restrooms are often times the most expensive," he said. "So a business might build out and use one instead of two."

The Quick Start program started at the beginning of October, and Arent said the city is currently talking with six interested businesses, although none has officially signed on yet.

Arent added that he expects the program to be a popular option for small-business owners.

"The funds will be available on a first-come , first- served basis," he said , " and will last approximately 12 to 18 months."

Those interested in taking part in the program can contact the Las Vegas Economic and Urban Development Department at 702-229-6551.

Contact Paradise/Downtown View reporter Nolan Lister at nlister@viewnews.com or 702-383-0492.