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Henderson Nevada Economic and Demographic Overview 2013

BUSINESS AND REAL ESTATE Redevelopment Agency The City of Henderson Redevelopment Agency, much like other Redevelopment engages the people in redevelopment areas in municipal redevelopment agencies, serves as the governing the process of taking control of their neighborhoods. It also con- board for government-sponsored development activities within structs strong relationships between historically diverse groups legally created redevelopment area boundaries. The Henderson with individual needs to highlight the impact they can have when City Council serves as the Redevelopment Agency’s governing they come together with a singular vision and mission to create board, with assistance from the Redevelopment Agency Advisory change. Redevelopment connects its area constituents to City Commission and several stakeholders, such as the Water Street programs and services and creates community partnerships to District Business Association. The Association is comprised of access additional resources as needed. local business and neighborhood leaders, and the Downtown Residential Civic Allliance, comprised of local residents. Redevelopment efforts physically enhance and revive the charac- ter of business and residential districts, resulting in the creation of vibrant, dynamic communities that continue to thrive decades later. Redevelopment increases equality for residents by offering opportunities for disadvantaged areas to reinvent themselves through a series of small, meaningful programs and projects. These projects create job opportunities and provide residents the chance to increase their income and better their quality of life. Why does government get involved? Why can’t private enterprise do it alone? Private investment is crucial to the process of reviving neighbor- hoods, as public monies are finite. Initial public investment is required to spur private ventures, as it illustrates the City’s com- mitment to the improvement of the area. Using public investment Why Redevelop? also leverages dollars and often allows the private entity to over- The City of Henderson has earned national recognition for its come challenges unique to redevelopment areas (such as aged quality of life and for the services it provides its residents and infrastructure or environmental contamination). businesses. Like other metropolitan areas, however, older neigh- borhoods, such as the original downtown hub of the city, have declined as development has expanded outward. Redevelopment activity and positively impacts the social, economic, and physical infrastructure within older areas or areas damaged by obsolete uses, such as mining and quarrying. Redevelopment projects attract commercial, industrial and residential development back to these areas to stimulate growth, economic vitality, and quality of life. What does redevelopment do? The creation of ‘Redevelopment Areas,’ by identifying a legal boundary around areas that meet a variety of blighting charac- teristics, is a primary tool used by cities and counties across the country to encourage commercial and residential growth in areas that have aged and are currently underdeveloped. Redevelopment activities stimulate revitalization efforts and economic develop- ment. 32 32 cityofhenderson.com


Henderson Nevada Economic and Demographic Overview 2013
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