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section dividers - City of Las Vegas

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REDEVELOPMENT AREAA portion <strong>of</strong> the Downtown <strong>Las</strong> <strong>Vegas</strong> Redevelopment Area, established in 1986 (seeMap I-D), is within the West <strong>Las</strong> <strong>Vegas</strong> Plan Area. The governing body for the RedevelopmentArea is the <strong>Las</strong> <strong>Vegas</strong> Downtown Redevelopment Agency Board (Mayor and <strong>City</strong>Council) and the authority for the Redevelopment Area is derived from the NevadaRevised Statutes, Sections 279.382 to 279.680. The Redevelopment Agency has broadpowers under state law which include the ability to acquire property and dispose <strong>of</strong> it forpublic and private development, to assist property owners in the rehabilitation and development<strong>of</strong> their properties, to undertake and pay for public improvements, and to financeits activities through the issuance <strong>of</strong> bonds or other forms <strong>of</strong> borrowing.The major objective <strong>of</strong> the redevelopment process is: the correction <strong>of</strong> conditions <strong>of</strong>blight in the redevelopment area which constitute either social and/or economic liabilitiesand the initiation <strong>of</strong> redevelopment in the interest <strong>of</strong> health, safety, and the generalwelfare <strong>of</strong> the people. Redevelopment monies are used for site specific projects andtypically fund 10 percent <strong>of</strong> the project.With the adoption <strong>of</strong> the <strong>City</strong> <strong>of</strong> <strong>Las</strong> <strong>Vegas</strong> General Plan on April 5, 1992, the DowntownDevelopment Plan, a Land Use Plan for the Redevelopment Area, was also adopted (seeMap AP-A in the Appendix). It is this Land Use Plan which currently dictates future landuses within the Redevelopment Area.• Shopping Center at Owens and H Street - TheAgency assembled the parcels needed for this22 acre project with a 50,000 sq. foot Vons supermarketas the key anchor for phase 1. Constructionbegan in March 1994Two projects outside the West <strong>Las</strong> <strong>Vegas</strong> Plan Areabut directly adjacent to the Plan area have alsobeen completed with the use <strong>of</strong> redevelopment funds.• Valley Foods - This project, located at the northeastcorner <strong>of</strong> D Street and Bonanza Road, isa food distribution warehouse which relocatedto this more regionally accessible location• Levitz Center - The Agency was responsible fora portion <strong>of</strong> the <strong>of</strong>f-site improvements for thisretail furniture complex at the corner <strong>of</strong> MesquiteAve. and Martin Luther King Blvd.The future <strong>of</strong> economic development in West <strong>Las</strong><strong>Vegas</strong> is partially dependent on the infusion <strong>of</strong> redevelopmentmonies.Redevelopment Projects in West <strong>Las</strong> <strong>Vegas</strong>To date, one redevelopment project within the West <strong>Las</strong> <strong>Vegas</strong> Plan area has been completed(Clean Center), funding for a market study for another project has been expended(Moulin Rouge), and the Agency is working on the first phase <strong>of</strong> a shopping center project,Magic’s Westland Plaza (Owens and H Street) for which groundbreaking occurred onJanuary 5, 1994.• The Clean Center - This project, located at 1100 West Owens Avenue, is a 6,800square foot laundromat/retail center• Moulin Rouge - A market study is being completed to determine if the Moulin Rougewould have sufficient market support to become a viable business. Further RedevelopmentAgency funding will depend on the results <strong>of</strong> this study14 Introduction

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