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Las Vegas redevelopment bill still alive after legislative deadline

By SEAN WHALEY LAS VEGAS REVIEW-JOURNAL CAPITAL BUREAU
April 12, 2013 - 9:05 am
 

CARSON CITY — A bill to extend by 15 years the life span of the Las Vegas redevelopment agency was advanced Friday by the Assembly Government Affairs Committee.

Assembly Bill 50 is being sought by the city so that revenue can be freed up to pursue new redevelopment projects. It would extend the life of the agency from 2031 to 2046 and free up revenue by allowing the refinancing of existing debt.

The bill was amended, and now includes more transparency and reporting requirements, said committee Chairwoman Teresa Benitez-Thompson, D-Reno.

In earlier testimony on the bill, Bill Arent, director of the redevelopment agency, said the district is critical to moving downtown Las Vegas forward with economic diversification and job creation.

Friday was the deadline for bills to clear their first committee.

Contact Capital Bureau reporter Sean Whaley at swhaley@reviewjournal.com or 775-687-3900/

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