|
The city of Las Vegas Redevelopment Agency, which is made up of the members of the Las Vegas City Council, approved today a $50,000 Visual Improvement Grant to the owners of the El Cortez, who plan to transform one of their buildings into a boutique hotel.
The funding is made possible through the Commercial Visual Improvement Program, which was created by the Las Vegas Redevelopment Agency to assist commercial, industrial and mixed-used properties in the city’s designated redevelopment area. The redevelopment area is defined in general terms as the downtown portion of Las Vegas.
Under the program, participants can receive a rebate of up to $50,000 for pre-approved improvement costs. The program allows for improvements to the following: store fronts, windows, awnings, painting, signage, landscaping, doorways, lighting, parking lots and rear accesses. The purposes of the effort are to encourage businesses to invest in their properties, which stimulates the local economy, and to improve the appearance of the city.
Participants are required to contribute a one-to-one match to the agency’s funds.
The $50,000 grant will be used toward improving the façade of the Ogden House Motel, to be renamed the Cortez Cabana Suites, located at 201 N. Seventh St. The owners of the El Cortez plan to spend more than $6.3 million to rehab the interior and exterior of the motel and transform it into a boutique hotel. The El Cortez recently completed massive renovations to its property, located in downtown Las Vegas.
“The El Cortez has bought into the revitalization of downtown,” said Ward 5 Councilman Ricki Y. Barlow, who represents the area. “Through the Commercial Visual Improvement Program businesses such as the El Cortez can apply for funding that will improve the look of their properties, helping partner with the city in revitalizing downtown.”
For more information on the program business owners can contact the Office of Business Development at (702) 229-6100.
-end
Return to News Release Index
|
