LAS VEGAS — The City of Las Vegas City Council unanimously approved a package of economic development incentive programs aimed at supporting businesses and property owners operating within the city’s designated Redevelopment Areas.

City officials said the action reflects a continued focus on revitalizing commercial corridors, improving public safety, and encouraging long-term investment in underserved neighborhoods. During the meeting, the city’s Economic and Urban Development (EUD) team provided an overview of both new and updated incentive programs designed to reduce upfront costs for businesses while leveraging private investment.

Applications for the programs will be available soon. Additional details and eligibility requirements can be found at lasvegasnevada.gov/EUDIncentives.

Tenant Improvement Program (New)

The newly approved Tenant Improvement Program offers rebates to help offset the cost of interior build-outs for commercial spaces. Key provisions include:

• Rebates of up to 10% of qualified tenant improvement costs
• Maximum rebates of:
  • $50,000 for spaces between 2,500 and 4,999 square feet
  • $95,000 for spaces 5,000 square feet or larger
• A minimum lease term of five years
• The ability to offer multiple incentives within a single building

City officials said the program is intended to lower barriers for businesses seeking to locate or expand within redevelopment zones.

Business Security Program (Expanded)

The Business Security Program, an existing initiative, reimburses business owners up to $5,000 for safety-related improvements such as security cameras, lighting, and other protective measures.

Recent updates expand eligibility to:

• Buildings without retail storefronts
• Tattoo shops, which were previously excluded

The city said the changes were made in response to feedback from business owners seeking greater flexibility in addressing security needs.

Commercial Visual Improvement Program (Updated)

Since 2015, the Commercial Visual Improvement Program has seen the city invest $2.37 million, leveraging nearly $29.9 million in private funding—an estimated $12.59 in private investment for every $1 of city funding.

Approved updates include:

• Increasing the maximum incentive from $25,000 to $50,000
• Creating a pilot targeted area in the Historic Westside, where matching funds may not be required
• Clarifying what qualifies as a “significant improvement”
• Updating zoning language to explicitly include tattoo establishments

The program aims to enhance building appearance, strengthen commercial corridors, and boost neighborhood pride.

Multifamily Residential Renovation Improvement Program (Revised)

The Multifamily Residential Renovation Improvement Program supports major interior and exterior rehabilitation of existing multifamily properties, as well as commercial-to-residential conversions.

Since 2017, the city has invested $1.45 million, leveraging more than $12.4 million in private funding—about $8.59 in private investment for every $1 invested by the city.

Program updates emphasize long-term housing stability by:

• Expanding eligibility to properties with five or more units
• Requiring a minimum investment of $30,000 per unit
• Mandating that units be leased to individuals or families for at least 12 months
• Excluding single-family home conversions and mass leasing contracts

City leaders said the combined incentives are designed to promote sustainable redevelopment, encourage private-sector participation, and support both economic growth and housing stability across Las Vegas’ redevelopment areas.