Qualifying Office Tenants Offered Rebates To Upgrade Older Buildings
The city of Las Vegas Redevelopment Agency Board today approved the implementation of a new business incentive program called the Office Tenant Incentive Program. Through this program, the city of Las Vegas Redevelopment Agency will provide qualifying business owners/landlords/tenants with a 10-percent rebate, up to a maximum of $50,000, for pre-approved costs involved in substantially upgrading the interiors of older office facilities in order to make them more competitive.
A qualifying property must be located within the city’s Redevelopment Areas 1 or 2, offer at least 10,000 square feet of leasable space, undergo at least $200,000 worth of improvements, provide 20 verifiable full-time jobs within the space, and have a lease with at least five years remaining. Final authorization requires approval by the Las Vegas City Council. Improvements acceptable under this program include doors and frames, some insulation, communication systems, electrical work, finishes, fire protection, structural refurbishments and much more.