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Redevelopment agency approves $75,000 in exterior and interior incentives for rehab at 330 S. 11th St., adding eight units
Summary
The agency authorized a $50,000 interior unit improvement incentive and a $25,000 exterior visual improvement incentive for a two-building, eight-unit rehabilitation at 330 South 11th Street; the owner’s private investment was stated at about $369,000.
The City of Las Vegas Redevelopment Agency on Aug. 20 approved two incentive agreements with KLA Capital Series 9 for the rehabilitation of a vacant two-building property at 330 South 11th Street. The projects will create eight rental units and are eligible for a combined $75,000 in RDA incentives: $50,000 for interior unit improvements and $25,000 for exterior visual improvements.
Tracy Reich, redevelopment manager for the agency, described the project as a complete interior and exterior rehabilitation of two apartment buildings totaling eight residential units. Reich said the applicant’s private investment in the project is “upward of $369,000.” The planned interior work includes complete gut-and-rebuild of kitchens and bathrooms and upgrades to electrical and plumbing systems; exterior work includes new doors, windows, stucco, paint, stone and brickwork, landscaping and irrigation.
Cameron Foulade, representing owner Adam Foulade and ProView Series LFC, told the agency the property is one of the most dilapidated on the block and said past renovations by the owner have driven broader neighborhood improvements. “The property that we are discussing is one of the most dilapidated property in that block. … The product that we are putting in is extreme, very upgraded, very modern,” Foulade said.
The incentives require a facade easement and a maintenance agreement to be recorded on the property for five years, Reich said. Staff requested a 180-day completion period for the work. A councilmember moved to approve agenda item 7 (the $50,000 interior incentive) and then moved to approve agenda item 8 (the $25,000 exterior incentive); both motions were recorded as carried. The agency did not provide a roll-call tally in the transcript of the meeting.
