In Episode 6, we wonder what exactly is the Mayor’s Fund for Las Vegas LIFE? Why do we need donations? What about tax-payer dollars? We also discuss downtown living. Why live downtown? Read on below and find out. Or listen here.
What is the Mayor’s Fund For LIFE?
The city has started a new fund that aims to pool public and private resources to work on key issues that improve the quality of life for all residents. Focus areas will include livability, innovation, future and education. Projects that will be supported include the courtyard project to end homelessness, public art, the Las Vegas Book Festival, equitable internet access, corporate challenge, a youth employment program, summer learning academies and strong start academies to support pre-school education and under-performing elementary schools.
Why does the city need additional funds? Don’t they already use taxpayer funds?
This will help fill the gap that government alone can’t fund. We often have a vision and a plan to address an issue but we don’t have the resources to keep it going. Our goals often align with the private industry so when they are willing to match funding or help support our efforts, everyone benefits. This model is based off successful mayor’s funds in New York and LA. The Mayor’s Fund To Advance New York City raised $18 million in 2017.
Is there only so much money to go around? Will this jeopardize the work of other nonprofits?
Rest assured, we will still give financial resources to our nonprofit partners but these key projects will allow us to align our goals together. We find that giving increases when we collaborate.
How will the donation process work?
Donations will be designated to one of the categories we mentioned before and an advisory committee is involved in helping figure out how funds will be used to support them. You can learn more about the Mayor’s Fund for Las Vegas LIFE at mayorsfundlv.org
The economy has changed. Redevelopment is full steam ahead downtown but there is one missing piece: what the ?!?!?! is up with a lack of housing downtown? We hear all the time that people want to live downtown but they can’t find the right residence. We need more options for those that want to live downtown.
Why is it important that more people live downtown?
Some businesses looking to relocate take into consideration whether or not their employees can find housing near enough to walk or bike to work; for us to attract those types of businesses, we need more housing options. The ability to attract bigger retailers, like a grocery store, depends on the number of people living in a close proximity to the retail site. Great neighborhoods have many different housing options available and that’s what we’re working towards.
What new projects have recently opened?
The good news is that new developers have come in to do new projects and many of them include residential offerings. Fremont9 just opened with 232 units and C 3 Lofts just opened with 48 units and new residential projects are officially planned for Symphony Park. But what’s in it for the city? The short answer is that we want more people to live, work and play downtown to support the economy. When people are living downtown, there is even more support for local businesses, restaurants, entertainment, bars, you name it.
What future projects will impact the need for housing?
The expansion of the Las Vegas Medical District now that UNLV has a medical school is also expected to not only bring $3.6 billion of economic impact by 2030 downtown but also increase the need for housing. We want to have the new projects in place to meet the need as it arises.
How are millenials changing the real estate scene?
We’re also finding that millennials love living downtown and in the traditionally older neighborhoods that provide houses with more character. Millennials seem to enjoy that more than they like living in the suburbs. They also care more about walkability and biking, which makes easy access to downtown housing even more important.