Redevelopment funds redeployed
Clark County’s redevelopment program was dissolved Tuesday, freeing up millions of dollars to aid both county and state officials in their financial struggles.
A fund in which $37 million had accrued was originally to be left intact. Now it will be dispensed to schools, University Medical Center and an array of services.
The state will receive $2.5 million from the fund, plus $11 million a year in tax revenue from properties in the redevelopment areas.
Commissioner Chris Giunchigliani, who proposed shelving the program, seemed put off that state lawmakers were acting as though the money was already in the bag.
“They haven’t formally weighed in on it, but there is the expectation,” said George Stevens, county finance director. “They are going to need it to balance the budget.”
“It is disconcerting to me that there is this expectation,” Giunchigliani said.
But she and the other commissioners still voted to dismantle the program.
The Clark County School District will get $12 million for operating costs and $2.28 million to help pay debt. About $7 million is earmarked for UMC, $3.5 million for the Fire Department, and $3.3 million for the Hollywood Aquatic Center. A state sustainability center will get $2.5 million.
The rest of the money will be divvied up among libraries, Family Court, emergency communications and medical care for the poor.
Most of the $11 million that will be funneled to the state each year will boomerang back to the county to pay for schools and other programs.
Giunchigliani asked that the commission meet again on June 2 to review how the money has been allocated.
“I want to make sure … that it doesn’t get rolled off somewhere else,” she said.
Contact reporter Scott Wyland at swyland@reviewjournal.com or 702-455-4519.