The city of Las Vegas has expanded several redevelopment incentive programs aimed at supporting small businesses, property owners, and housing improvements throughout the city.
The Business Security Program (BSP) offers business owners up to $5,000 in reimbursements for new or improved security systems such as cameras and lighting. Since its launch last year, seven businesses have received reimbursements and another seven are currently upgrading their security. The program now includes buildings without retail storefronts and tattoo shops, which were previously ineligible. These changes are intended to broaden access to support for business owners seeking to protect their investments and employees.
The Commercial Visual Improvement Program (CVIP) encourages enhancements to building appearances along commercial corridors. Since 2015, the city has invested $2.37 million in this program, leveraging nearly $29.9 million in private funding—resulting in $12.59 of private investment for every city dollar spent. Updates to CVIP include raising the maximum incentive from $25,000 to $50,000, creating a targeted area in the Historic Westside where matching funds may not be required, expanding eligibility to tattoo establishments, and clarifying requirements related to significant improvements and zoning.
For housing improvements, the Multifamily Residential Renovation Improvement Program provides financial assistance for substantial renovations of multi-family properties or conversions from commercial spaces. Since 2017, the city’s investment of $1.45 million has leveraged over $12.4 million in private funding—a ratio of $8.59 private dollars for each public dollar invested. Recent updates raise eligibility to properties with five or more units (previously four), require a minimum investment per unit of $30,000, mandate at least 12-month leases for tenants, exclude single-family home conversions and mass leasing contracts, and clarify what qualifies as a residential unit.
A new Tenant Improvement Program was also introduced by the city to stimulate business growth by providing rebates for interior build-outs in commercial properties. The program offers rebates covering up to 10% of qualified improvement costs with maximum amounts ranging from $50,000 to $95,000 depending on space size. Requirements include a minimum lease term of five years and creation of at least ten verifiable jobs among other criteria; industrial properties and certain types of businesses are excluded.
“Together, these incentive programs demonstrate how strategic public investment can unlock private funding, improve safety and aesthetics, support housing quality and strengthen local businesses. By refining and expanding eligibility, the city of Las Vegas continues to ensure its redevelopment tools are responsive, equitable and aligned with community needs,” according to a statement from the city.
Further information about these redevelopment agency incentive programs is available on the city’s website.
