Assembly Bill No. 270–Assemblymen Goldwater, Parks, Andonov, Arberry, Atkinson, Brown, Buckley, Conklin, Griffin, Horne, Leslie and Oceguera

 

March 10, 2003

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Joint Sponsors: Senators O’Connell and Carlton

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Referred to Committee on Taxation

 

SUMMARY—Revises provisions relating to community redevelopment. (BDR 22‑384)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to community redevelopment; expanding the criteria that the legislative body of a city or county must consider before consenting to any payment by a community redevelopment agency for the land for and the cost of construction of any building, facility, structure or other improvement and the installation of any improvement; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1  Section 1. NRS 279.486 is hereby amended to read as follows:

1-2  279.486  1.  An agency may, with the consent of the

1-3  legislative body, pay all or part of the value of the land for and the

1-4  cost of the construction of any building, facility, structure or other

1-5  improvement and the installation of any improvement which is

1-6  publicly or privately owned and located within or without the

1-7  redevelopment area. Before the legislative body may give its

1-8  consent, it [shall] must determine that:

2-1  (a) The buildings, facilities, structures or other improvements

2-2  are of benefit to the redevelopment area or the immediate

2-3  neighborhood in which the redevelopment area is located; and

2-4  (b) No other reasonable means of financing those buildings,

2-5  facilities, structures or other improvements are available.

2-6  Those determinations by the agency and the legislative body are

2-7  final and conclusive.

2-8  2.  In reaching its determination that the buildings, facilities,

2-9  structures or other improvements are of benefit to the

2-10  redevelopment area or the immediate neighborhood in which the

2-11  redevelopment area is located, the legislative body shall consider:

2-12      (a) Whether the buildings, facilities, structures or other

2-13  improvements are likely to:

2-14          (1) Encourage the creation of new business or other

2-15  appropriate development;

2-16          (2) Create jobs or other business opportunities for nearby

2-17  residents;

2-18          (3) Increase local revenues from desirable sources;

2-19          (4) Increase levels of human activity in the redevelopment

2-20  area or the immediate neighborhood in which the redevelopment

2-21  area is located;

2-22          (5) Possess attributes that are unique, either as to type of

2-23  use or level of quality and design;

2-24          (6) Require for their construction, installation or operation

2-25  the use of qualified and trained labor; and

2-26          (7) Demonstrate greater social or financial benefits to the

2-27  community than would a similar set of buildings, facilities,

2-28  structures or other improvements not paid for by the agency.

2-29      (b) The opinions of persons who reside in the redevelopment

2-30  area or the immediate neighborhood in which the redevelopment

2-31  area is located.

2-32      (c) Comparisons between the level of spending proposed by the

2-33  agency and projections, made on a pro forma basis by the agency,

2-34  of future revenues attributable to the buildings, facilities,

2-35  structures or other improvements.

2-36      3.  If the value of that land or the cost of the construction of that

2-37  building, facility, structure or other improvement, or the installation

2-38  of any improvement has been, or will be, paid or provided for

2-39  initially by the community or other governmental entity, the agency

2-40  may enter into a contract with that community or governmental

2-41  entity under which it agrees to reimburse the community or

2-42  governmental entity for all or part of the value of that land or of the

2-43  cost of the building, facility, structure or other improvement, or

2-44  both, by periodic payments over a period of years. The obligation of

2-45  the agency under that contract constitutes an indebtedness of the

3-1  agency which may be payable out of taxes levied and allocated to

3-2  the agency under paragraph (b) of subsection 1 of NRS 279.676, or

3-3  out of any other available money.

3-4  Sec. 2.  This act becomes effective on July 1, 2003.

 

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