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Tax credits available to help Las Vegas' underserved communities

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Updated: 6/17/2014 1:08 am

LAS VEGAS (KSNV & MyNews3) -- A potential big jolt is coming to the Las Vegas.

The city of Las Vegas will be able to offer $28 million in tax credits to help parts of town that need it.

Federal and city leaders are paying particular attention to areas on the city's west and east sides.

One specific place is the Historic Westside School. It houses a radio station now, but city leaders envision retail and office space as part of a rehabilitiation effort. This potential project is just one that could enhance the west side.

Gritz Cafe survived the economic crash and is now prospering. Owner Trina Jiles welcomes more businesses to the west side.

"The more businesses the better, more support for the community," Jiles said.

Jiles says the area needs jobs and more businesses to spur some spending.

"'Anything that would entice people to spend money, so shopping, would be beautiful. I love to shop, people love to eat; more restaurants. I'm not intimidated by that. We have our own niche here," Jiles said.

Through a $28 million New Markets Tax Credit program, investment is being highly encouraged in traditionally underserved communities. Some ideas include real estate development, small businesses, and education and healthcare. Mayor Carolyn Goodman says she wants to see revitalization.

"Really it's a money saving, but it allows us to go into the low income areas, concentrate on specific projects and ventures that we might see as worthwhile," Goodman said.

She would like this to promote pride in the city's diverse communities.

"We're one people and this is our home and this is Las Vegas," Goodman said. "No place like this in the world."

Goodman says she would also love to see a Hispanic cultural/economic center sprout on the east side, comparable to the scope of a Chinatown.

A workshop for these tax credits is planned for the end of next month at the Historic Fifth Street School.



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