If you’re not aware of it, Boulder City has a program available for businesses to assist them in projects within Boulder City to help them revitalize or upgrade their public sector areas around their properties.
The Redevelopment Agency Program (RDA) is for exterior areas only (not interior) such as helping to improve outdoor signage, parking lots, landscaping, lighting and other things that can help spiff up an entrance to a local business. The funds are only spent to repay the costs of labor and materials for an approved project.
There’s a cap on the funds of 30% or $99.900, whichever is less of the total cost of the project. Signage actually has it’s own sub-set of this program, and has a different cop of 50% or $99.900. In case you didn’t know folks – big fancy signs are expensive! (For example, we hear that the sign in front of Southwest Diner cost $50,000.)
Where does the money come from? The RDA was created in 1999, and the property values and their taxes at that time, became the base of this fund. It is NOT part of the General Fund in Boulder City. As property values increased through reinvestment, that increment of the tax dollars above the base, has funded the RDA. The annual budget is $150,000 in a fiscal year.
As of the current fiscal year, ending this month, three projects were approved in Boulder City: The Desert Inn Motel, and the Boulder City Inn as well as a project at Auto Specialists. Those three projects totaled only a fraction of the amount available this past year.
Only businesses within the designated areas (highlighted in the shaded purple area above) can participate – but that is 3097 total acres, so a great many of our local businesses do qualify.
The stated goal of the Agency Program: To eliminate and prevent the spread of blight and deterioration; and the conservation, rehabilitation and redevelopment of the RDA area in accord with the Master Plan, Redevelopment Plan and local code/ordinances.
Interested businesses should reach out to the City’s Economic Development Coordinator, Raffi Festikjian at rfestekjian@bcnv.org.
