NRS 274.240 Powers of designating municipality: Issuing securities; reducing certain taxes, fees or service charges; improving governmental services; providing financing; cooperating with other governmental agencies.
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NRS 274.240 Powers of designating municipality: Issuing securities; reducing certain taxes, fees or service charges; improving governmental services; providing financing; cooperating with other governmental agencies. To encourage the revitalization of specially benefited zones, the governing body of a designating municipality may:
1. Issue bonds or other securities authorized by other law for the purposes of economic development and use the proceeds for loans to any new or expanding qualified businesses in the specially benefited zone.
2. Reduce or eliminate any license or franchise tax, fee or service charge which would otherwise be imposed against qualified businesses within the specially benefited zone.
3. Develop and carry out, alone or where feasible with the participation of one or more designated neighborhood organizations as provided in NRS 274.250 , programs to improve needed governmental services within the specially benefited zone.
4. Develop and carry out a plan to:
(a)Ensure the availability of resources to assist residents of the specially benefited zone in their own efforts to improve the condition of property and the availability and quality of public services within the zone.
(b)Provide or seek assistance for persons or businesses displaced as a result of undertakings or other activities conducted pursuant to this chapter.
5. Provide financing by tax increment pursuant to chapter 278C of NRS.
6. Cooperate with any other governmental agency to provide any other incentive likely to encourage private investment within the specially benefited zone.