Las Vegas Arts District property and business owners have launched a petition to establish the neighborhood as a Business Improvement District.
Property and business owners are seeking to establish a Business Improvement District that could invest about $1.9 million annually into the neighborhood’s safety, maintenance, business development and public spaces.
Ten property and business owners launched a petition Tuesday to create the district, which would be privately led and managed and provide dedicated resources and services to the Arts District, according to a news release.
The proposed BID would encompass the area between East Bonneville Avenue and West Wyoming Avenue, with boundaries extending east to west along parcels fronting Las Vegas Boulevard and the railroad tracks.
The BID has been under discussion for more than a decade, said Sam Cherry, a member of the BID board and a commercial and residential property owner in the Arts District. But the neighborhood experienced “tremendous growth” during and after the COVID-19 pandemic, he said.
“It’s turned into this really eclectic, exciting neighborhood,” said Cherry. “With that comes traffic, comes employees, comes more safety concerns.”
He said the BID would get ahead of conversations, be a conduit for businesses, have communication with the city of Las Vegas and be a funding source for the community.
The proposal is still in its early stages and must go through several approval steps. First, property owners within the proposed district must submit signatures representing more than 50 percent of the area’s total assessed property value. The proposal would then go before the Las Vegas City Council for a public hearing and approval.
Despite being a part of the approval process, the city of Las Vegas will not govern the operations of the district, but remain “an important partner,” said the press release.
Cherry anticipates, if approved, the BID would be active starting the second quarter of 2027.
If approved, it would be governed by at least three commercial property or apartment building owners, at least three business owners; at least two residential property owners or district residents; at least one nonprofit ratepayer representative; and at least one artist who is a tenant, property owner or resident within the district.
Property owners would pay an assessment based on the assessed value of their properties. Commercial, apartment and nonprofit properties would be assessed at $6.50 per $1,000 of assessed value, while residential condominiums and household properties would be assessed at $3.25 per $1,000.
“I strongly feel that when people see how the BID activates and handles things, that it’s a nominal cost on everything,” said Cherry.
About $1.9 million could be invested in the community during the first year, with spending focused on five priorities: safety and security; enhanced cleaning and maintenance; placemaking and public realm improvements; business support and economic development; and marketing and activation.
“I think we’re in the beginning of something very special,” said Cherry. “With a BID online, I think it’s really going to take the Arts District into the future and on a solid foundation.”
For more information on the BID, people interested can visit its website at lvartsdistrictbid.com.
Contact Emerson Drewes at edrewes@reviewjournal.com. Follow @EmersonDrewes on X.
