Call to order roll call.

Chair Doherty.

Here.

Vice Chair West.

Excuse Member Cherry.

Present.

Member Schlottman.

Present.

Member Johnson.

Excuse.

Member Nelberg.

Present.

Member Riley.

Present.

Member Loden.

Excuse Member Ortiz Thompson.

Present.

You have a quorum.

Announcement regarding compliance with open meeting law.

We are compliant.

Public comment.

Comment during this portion of the agenda must be limited to matters on the agenda for action.

If you wish to be heard, come forward and give your name for the record.

The amount of discussion as well as the amount of time any single speaker is allowed may be limited.

For possible action to approve the final amendments by reference of the regular meeting of April 29th, 2025.

I move to approve the minutes.

Report by Tracy Reich, the redevelopment manager regarding redevelopment area.

A vote has to be made on the item before you can move on to the next agenda item.

Through the chair.

Verbal aye.

Abstain.

Report by Tracy Reich, redevelopment manager regarding redevelopment area incentives.

This afternoon, we're going to present an overview of our current incentives and the in preparation for updates to those, and then introducing a new incentive that we would like your input on.

TIFF will trigger prevailing wage requirements.

Offer the city to a way to attract new tourism projects by using the retail taxes generated by the project after completion as a financing incentive for the development.

Area 15 is probably the best known of our TID projects.

On the federal level, the city uses new market tax credits for qualified census tracts, as you can see from the slide.

A typical project would be between six and twenty million and up to roughly 20% of the capital stacks.

Loans are forgiven at the end of a seven-year compliance period.

Opportunity zones 1.1.0 are reaching its conclusion, but the federal government just passed opportunity zones 2.0, which take effect in 2027.

The city will nominate census tracts to the state.

The state will nominate 25% of those nominated statewide to the federal government.

This process will take place next year.

These are similar to how 1.0 was established.

There are several new restrictions on what a qualified census tract is, depending on area median income and location.

They added a number of incentives for rural development this year.

Opportunity zones can be used for a variety of eligible projects, mostly real estate development and significant rehabs, opening new businesses within an opportunity zone, acquiring an existing business and relocating it into an opportunity zone, and large expansions of businesses already located there.

So what we're going to talk about today is the changes to the visual improvement program first.

The manual when we're done with it may not just it currently lists every zoning code that's available, but by with the inclusion of all of the form-based codes, it may be easier to just list the non-eligible zoning codes.

We took tattoo establishments off the ineligible list.

We added a new construction limitation.

The idea of this is to eliminate blight.

New construction really isn't eliminating blight, assisting new construction.

So new construction of buildings 12 months or younger will not be eligible for a VIP.

It emphasizes that all permits and entitlements are required.

And we uh getting a little sideways with planning, so we'll fix that with that.

We also want to emphasize that there is only one incentive per APN per year, so that we're not laying an incentive upon an incentive for something that was already improved.

On the multifamily rent program, first is to change the name from the very long cumbersome name to multifamily renovation program.

We would also change some of the eligibility requirements.

We'd be increasing the per door requirement from 20,000 expend in expenditures per door to 30,000 per expenditures, expenditures per door.

This is to keep pace with the inflation and the cost of construction materials.

When we started with 20,000 per door, that was a significant improvement.

Now 20,000 per door is paint.

So it's we're just trying to keep pace with so making sure that there's a significant improvement.

We also want to increase the minimum number of units from four to five.

That was the original intent.

We had a council member that wanted four plexes addressed.

We're finding that we're not getting that many four plexes to be addressed because of the other requirements of the program, so upping it to five makes it just clean, cleaner for interpretation.

We also want the units must be leased to an individual or family for 12 months.

This eliminates some of the blanket affordable housing contracts that have come in that are not as they're not being addressed in this in the manner that the city would like to see through our neighborhood services program, so eliminating them through here allows those to be addressed properly.

Single family home conversions are not a not eligible.

So we'll call out that language now.

We would also add a definition of what a unit is.

The definition would be must have a living bedroom area, a kitchen or kitchenette consisting of an oven, stovetop, refrigerator, freezer, sink, and separate, and a separate three quarters or full bathroom.

Sleeping rooms or sleeping rooms with bathrooms are attached to a common living area, and it would not be eligible.

The new tenant improvement program is the one we were uh addressing today.

We've have used to have an office tenant improvement program that did not get much and attention.

And then recently we have gotten a number of uh tenant improvement requests for a variety of different commercial properties.

And instead of trying to do one-offs on each of those, let's create a program to that that targets those.

So based off the old tenant improvement office tenant improvement program, the rebates uh will be up to 10% of the TI value, two-tiered, a maximum of 50,000 for properties that are 25,000 square feet to 4999 square feet and 95,000 for properties 5,000 square feet and above.

You can have multiple incentives per building.

If you have a tenant, the lease term of the tenant must be five years, but you do not have to have a tenant.

This is to address office um substandard office space that we have downstairs in the marketing and trying to get new office tenants.

To qualify, you must have two of the fulfill two of the following a minimal leasable space of 25,000 square feet and or 20,000 or 20 square foot of eligible expenses and or provide at least 10 full-time jobs.

Ineligible properties include industrial privilege licenses, cannabis related operations, and properties that don't match the eligibility requirements.

That is the new improvement pro that's the new incentive that we're um proposing today.

We're working on two other incentives.

Um we've been asked by leadership to look at a demolition incentive for vacant and abandoned buildings.

We're just trying to work through the legalities of how to make that work with NRS and our programs, and then the other one is for in an infrastructure incentive beyond the electrical underlining to address a lot of the aging infrastructure we have in the downtown area.

Um we still dig up clay and wooden pipes and four-inch pipes where eight and ten are supposed to be, and it's a number of things.

So we're working on that one as well.

So that is the end of my presentation.

Um I would love any feedback or comments on on these uh uh as we move forward.

Yeah, I Jeff uh one question.

It was about the tip.

You mentioned that there needed to be 10 verifiable jobs.

Is that are those jobs with the tenant or 10 verifiable jobs for the tenant improvements and for the construction work?

It would be for the tenant that would be come in.

And then uh just one other question in general, the additional monies for the credits.

Where's that coming from?

Is that just part of the city's general fund?

For which which one for the new markets or for well for for the TIP, but also all the credits that have increased, say from 20 to 30,000 dollars or oh, so those that those are the requirements that the developer has to bring to the program.

The additional funds that we have for for these incentives we're generating through the for through the redevelopment area.

Thank you.

This is Ryan.

Can you go back to the VIP slide for a second?

Oops.

I had a question on the significant improvement definition.

What was the what was the um you named a few things that were going to be added to the visual improvement?

So currently it just says that it must be a significant improvement, but it doesn't define what a significant improvement is.

And a lot of times we get an inquiry that says, hey, I want to put up a sign, or I want to put up, I would just want to paint my building.

Um while both can be a significant improvement to that, we really would like to see the full building take on a or the space take on a much better look than just we don't want spot fixing, so it's like I can slap on some paint and get an incentive.

It's and that's being really general based general, but um trying to make sure that we're getting a full upgrade of a property.

Uh hi, Tracy, Sam Cherry for the record.

Um I I think it's fantastic.

I think the VIP program's been around for a long time.

It's nice to see it increase, and we've seen you know, in the last six or seven years, construction costs go up drastically, and and and for this to catch up.

We've seen our tenants utilize this, we've utilize the different programs.

It definitely helps bridge the gap or get something over the finish line.

And I know sometimes people are critical on incentives, but um we've certainly seen in the arts district in Fremont East and places where it's been deployed that you you're now seeing the the base there for sales tax and different revenues that never existed before in a really short amount of time.

So it feels like it's well uh above what the uh incentive is.

You can quantify it that way, but uh I think it's fantastic.

Thanks for the presentation, Tracy Trinity Slotman for the record.

And I had a question you mentioned something about only one VIP per APN number per year.

Is that correct?

That is current.

We have been pushing that envelope a little bit, and it's making um some people a little uncomfortable, so we just wanted to re-emphasize that.

Okay.

And the only reason why I bring that up is because you have certain properties uh especially in the arts district, like the Colorado that has like Echo and Bargenza and Pallet on the first floor, you have uh the building on third in Colorado with LGA, the uh Las Vegas Bruin Company, and then Salone de Mobile, and then you have uh like the Abel Baker building and where Viking Mike's is going, also has a district and stadium and um horse trailer hideout.

So um if you know I I understand if the building owner comes in and tries to get this to improve the entire building, uh it it makes sense.

But let's say if uh one of the tenants uh comes in first and they get this VIP, if somebody comes in just two months later, um they would be disqualified from applying for for this, and it could be a totally different concept, two different people, um, you know, and it it has there been any any thoughts into to that.

That's what how we've been stretching it a little bit and things.

I I'm happy to go back and review that with council and with leadership to to see how we can address that.

Yeah, I mean, because if even if it was something in regards to particular projects such as that, even if even if you reduce the VIP, if it's a multi-tenant building and gave each one of the tenants the opportunity to get a smaller amount, because uh you know, if we're looking at some of these projects, there's really not a whole lot for the tenant to come in on the exterior if we take a particular project like the third and colorado building where the landlord put in the onens and all the cut all the the exterior block walls and the windows and and and made the drastic improvement or um you know some of these other buildings where the landlord comes in and and really improves outside the building, like the Colorado or one East Charleston where they're putting in all the money.

Um there's not a whole lot for each of the tenants other than um you know signs and there may be some other items like on ins and things that they can do to embellish outside of the building.

So I don't know.

I I I would encourage y'all to just try to take a look at that because at that point there might not be an opportunity for anybody to spend the full 50 grand.

And so that's it.

Thanks.

Thank you.

Any other questions?

Awesome.

Report by Tracy Reich, redevelopment manager regarding an update on the establishment of redevelopment area three.

Good afternoon, Tracy Reich Redevelopment Manager for the record.

Uh just wanted to keep you guys appraised of how we are making progress on redevelopment area three.

We were in front of planning commission in August and uh received great uh support from that.

Thank you, Member Schlottman.

That was really nice of you.

I actually incorporated a few of your comments into our presentation for city council uh in September.

Um the RDA board and the city council also uh were uh enthusiastic and passed that.

We are in the process of uh putting together the checklist and a schedule for the staff to go out and do the blight study.

We've created, I don't know if we have overhead here.

Do we have overhead here?

Um we've created a one-page uh leave behind flyer.

Um good, there it goes.

Uh, that will be English on one side, Spanish on the other side.

That when the staff are out in the field, uh, the one thing that was relayed with before is that the staff would be out in the field doing the blight study, and if somebody came up and asked them questions, they didn't have anything to leave behind before that.

So wanted to have a flyer for them to with just the general, this is how what's happening, what's going on and how it's progressing, take give them a QR code and a link to be able to get to a website where we will keep these things up to date.

We're coordinating with uh the neighborhood with neighborhood services and ward three to uh piggyback on community outreach with that.

So uh while we're required to come back after the blight study and a draft plan to do the requisite planning um neighborhood meetings, we want to do much more outreach than that, and so we're trying to piggyback on the efforts of the ward and neighborhood services to um start early and often with outreach.

And that's where we're at today.

Any questions?

Thank you.

Thank you, Tracy.

Discussion regarding topics for future agenda items, comments made during this portion of the agenda by individual members shall refer solely to per proposals for future agenda items, and any discussion is shall be limited to whether or not such proposed items are within the purview of the committee and or whether such proposal items shall be placed on a future agenda.

No discussion regarding the substance of any such proposed topic shall incur shall occur, or no action shall be taken.

Through the chat, I have one quick question.

Um, Sam Cherry.

Is there I constantly am asked about um new capital improvement projects that the city's doing in public right away, um, and really in the arts district where there's like a just a buzz of activity happening, uh and it's by store owners or residents and stuff.

Is there any place that I can direct them to?

Um is it is there anything on the redevelopment agency site or anything that you can think of that comes to mind?

If not, no problem.

That's a great question.

Um that wouldn't public works.

I would hope public works would, but I do not know if that exists, and that's a great thought that it could be on the EUD site because we do reference those projects when we're marketing.

Hey, you should become and develop here and things.

The city's investing X in infrastructure and things going on and stuff.

I will do some research and find that out.

Citizens' participation, public comment during this portion of the agenda must be limited to matters within the jurisdiction of the committee.

No subject may be acted upon by the committee unless that subject is on the agenda and a schedule for action.

If you wish to be heard, come forward and give your name for the record.

The amount of discussion on any single subject as well as the amount of time any single speaker is allowed, may be limited.

Raven Cole Management Analysis, Economic and Urban Development.

I just was going to inform you all of the proposed meeting dates for next year.

I will be sending an email with this information, but just so you know.

Um we have January 27th, April 28th, July 28th, and October 27, 2026.

And like I said, I'll send you guys an email shortly with the same information.

Adjourned.