Nevada Briefs - September 2008

Nevada Briefs

Southern Nevada NAIOP Announces Support for NDOT Project

The board of directors for the Southern Nevada Chapter of the National Association of Industrial and Office Properties (NAIOP) voted unanimously to support the Nevada Department of Transportation’s (NDOT) proposed I-15/US 95 Demonstration Project as part of its Pioneer Program. The innovative public-private project will begin to help with congestion relief along the I-15 corridor by connecting I-215 with US-95 by utilizing managed ‘express lanes’ along the I-15 corridor.

Statutory Amendment Filed To Help Fund Education In Nevada

A historical partnership of gaming and education, the Committee for the Advancement of Education in Nevada (CAEN) filed paperwork with the Secretary of State for a statutory amendment designed to help fund the education system in Nevada. CAEN is seeking an amendment which will propose that the room tax in Clark and Washoe Counties be raised a maximum of three percent, not to exceed 13 percent.

Metropolitan Founders’ Group Looks to Form New Bank

The bank will be called Metropolitan Bank, national in scope, yet able to branch into any state. If successfully launched it will be the only bank among recently chartered banks that has a federal charter. Metropolitan Bank will provide FDIC insurance protection and be headquartered in Las Vegas for the first few years. Plans call for capitalization of more than $20 million with capital raising currently underway.

Rural Nevada Receives $2.8M Boost

Governor Jim Gibbons has approved 20 new community and economic development grants for rural Nevada totaling $2.8 million. The federal Community Development Block Grant Program (CDBG) managed in rural Nevada by the Nevada Commission on Economic Development (NCED) provided the funding for the grants. The grants, approved by Gov. Gibbons, range from $8,400 for an improved security system for the Carson Valley Children’s Center in Douglas County to $350,000 to improve water storage and supply in the City of Wells.