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 save you thousands of dollars on improvements, leases, working capital, real estate and equipment.
This Program provides scholarship assistance from the City of Henderson Redevelopment Agency Public Education Set Aside Fund to fund 50% of the preschool enrollment costs offered at the Valley View Recreation Center on a per student, per semester increment. Funding will be provided for registration on a semester schedule and scholarship recipients must maintain a 90% attendance rate each semester to be eligible for scholarship funding in subsequent semesters. All requests for scholarship assistance must be in writing and submitted to the Redevelopment Agency on the application form included in this packet. All requests for assistance will be reviewed and awarded by the Redevelopment Agency, subject to funding availability. Scholarship awards will be referred to, applied and processed by the City of Henderson Parks & Recreation Department—Youth Enrichment division.
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.)
This program grants up to $24,500 per dwelling unit to assist in constructing new single family residences up to 6-plex structures in the Water Street District of Downtown Henderson. Funding is available for both owner and non-owner occupied units.
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 50 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.)
- Downtown Facade Improvement Program
- Eastside Facade Improvement Program
- Commercial Improvement Grant Application
- Example Renderings
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.)
- Downtown Tenant Improvement Program
- Eastside Tenant Improvement Program
- Commercial Improvement Grant Application
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.)
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.
Opportunity zones represent a breakthrough approach to community development. The federal program relies on an ingenious mechanism for spurring investment: instead of tax credits or other traditional subsidies, investors are offered a temporary tax deferral for capital gains reinvested in designated opportunity zones. For investments held longer than 10 years, that deferral becomes forgiveness -- a huge advantage.
Unlike past tax credits, there’s no cap on the amount that can be invested. The process is simple, instead of purchasing tax credits through a secondary market, investors create a “qualified opportunity fund” as a vehicle for making investments.
In Henderson, the four designated opportunity zones overlap with our Downtown and Eastside Redevelopment Areas, giving developers the advantage of stacking opportunity zone tax credits with other incentives such as New Markets Tax Credit and Redevelopment Incentive Programs.
For more redevelopment program information, eligibility requirements and guidelines, please contact the Redevelopment Agency at 702-267-1515 or visit the Economic Development page for other business incentives.