The North Las Vegas City Council on Wednesday unanimously approved several multi-million-dollar water infrastructure projects.
Las Vegas Paving Corp. was awarded a $9.79 million contract to build a new storm drain system, relocate utilities and make a series of water, sewer and road improvements along Tropical Parkway, between Nicco Way and Hollywood Boulevard and also along Hollywood Boulevard between Tropical Parkway and Speedway Boulevard.
The project is funded by the Clark County Regional Flood Control District, the Regional Transportation Commission of Southern Nevada’s fuel indexing fund, the city’s Utility Enterprise Fund and a new set of property assessments for several landowners clustered within a 1,100-acre area that’s tentatively known as the Northern Beltway Commercial Area.
“We’re talking about something that’s going to be opening up an entire portion to development and lead not only North Las Vegas, but the entire valley in growth over the next decade,” said Councilman Isaac Barron, whose Ward 1 includes the industrial park.
Additionally, Meadow Valley Contractors was awarded a $5.28 million contract to build a new sewer near Las Vegas Boulevard and Craig Road toward Sloane Lane and Tropical Parkway for the Northern Beltway Commercial Area.
The project will be funded by the Nevada Department of Transportation, the city’s Utility Enterprise Fund and property-owner assessments.
Separately, the City Council agreed to issue $23.7 million in bonds to move toward a single automated system that reads water meters across North Las Vegas. Once installed, the metering system is expected to provide water customers with “sophisticated” tools to detect leaks, according to a city report.
In April, S&P Global Ratings upgraded the city’s credit rating to “investment grade” status for the first time in six years, now standing at BBB with a stable outlook.
“Investment grade feels so good,” Mayor John Lee said. “We’re finally going to be bonds for a good price.”