City of Henderson Redevelopment
Incentive Programs Available
In the continuing efforts to assist the members of the Water Street District Business Association, we are posting information on the City of Henderson Redevelopment Incentive Programs that are available. We strongly urge all business owners to review and consider taking advantage of these incentive programs to enhance and grow your business, as these programs provide a good return on investment. If we can help you with this process, please contact us and we will have someone contact you.
Grow your business, and beautify your home with us! The City of Henderson has created many redevelopment programs just for you. As a business or resident of the Downtown or Eastside Redevelopment Areas, we invite you to take advantage of these exclusive programs that can literally save you thousands of dollars on improvements, leases, working capital, real estate and equipment.
Residential Improvement Program
The Redevelopment Agency offers a financial assistance program for homeowners and tenants interested in improving the exterior of their home. The program grants money to sustain property conditions and values and requires property owner participation through a financial contribution. (Available in the Downtown and Eastside Redevelopment Areas.)
Residential Development Program
This program grants up to $24,500 per dwelling unit to assist in constructing new single family residences or two-family, three-family or four-plex, five-plex or six-plex structures in the Water Street District of Downtown Henderson. Funding is available for both owner- and non-owner-occupied-units.
For more on the Residential Development program information, eligibility requirements and guidelines, please contact the Redevelopment Agency at 702-267-1515 or visit the Economic Development page.
Developer Assistance Program
The Redevelopment Agency offers assistance to developers interested in building in a redevelopment area. Assistance varies and is custom-tailored to each project. Interested developers can begin the process by submitting an application and required supporting documentation.
Business Incentive Programs
Give your business a face-lift! As a property owner or lessee (with property owner consent), this program can help you improve your commercial building and storefront for a very low out-of-pocket cost. The grant can be used for 80 percent of the improvement costs, up to $15,000, unless green initiatives are implemented, in which case an additional 10 percent will be added to the award, for a maximum amount of $16,500. Additionally, a building with double frontage, with facades clearly visible from two rights-of-way, may be eligible for an additional $7,500. Improvements may include: painting your building; landscaping; construction, installation and/or renovation of awnings, marquees, doors, windows, signs, display window lighting, tiles, or pavement between the business door and the sidewalk; and other City approved façade improvements. (Available in the Downtown and Eastside Redevelopment Areas.)
Tenant Improvement Grant
The Tenant Improvement Grant offers reimbursement for repairs/replacements/upgrades at a rate of $25.00 per square foot, with a maximum amount of $50,000, unless green initiatives are implemented, in which case an additional 10 percent will be added to the award, with a maximum amount of $55,000. The grant will pay a maximum of 50% of the tenant improvement costs, with the previously mentioned dollar amount limitations, less any grants received from sources other than the Tenant Improvement Grant, credits or rebates. Recipients of this Tenant Improvement Grant Program must pay a minimum of 20% of tenant improvement costs. (Available in the Downtown and Eastside Redevelopment Areas.)
Freshen up your facade! This program is similar to the facade improvement program above, but it is available to the property owner or lessee (with consent of the property owner) and it is given as a full grant, so it does not need to be paid back. This program will help you to fix or update minor exterior improvements to commercial buildings. You can receive up to $3,000 for your storefront at absolutely no cost to you! (Available in the Downtown and Eastside Redevelopment Areas.)