An important milestone in the progress of revitalization in Las Vegas Trail is the organization's recent submission of a petition, signed by a majority of commercial and multifamily property owners in the area, and subsequent approval of a Las Vegas Trail Public Improvement District (PID). Funded by assessments against property owners within the area, the PID will support the revitalization efforts in the neighborhood and establish continuous improvement in infrastructure and economic development.
PID 21 was established June 22, 2021, for a nine-year term, expiring on Sept. 30, 2029, and includes commercial and multi-family properties. The assessment rate is $0.10 per $100 of assessed value.
The PID will generate a range of $300,000 to $400,000 a year, depending on the current tax rate. Funding will be utilized in multiple ways:
50% of funding will be applied towards Community Safety. The Advisory Board over the Las Vegas Trail PID will decide what funding supports, such as off-duty police officers, increased security cameras, and more.
35% of funding will support Community Services. Implementing routine programming and access to regular social services and quality housing will assist us in strengthening the entirety of the community.
15% of funding will support Neighborhood Enhancements. Ranging from community projects to trash abatement and beautification, The Advisory Board will lead the efforts of uplifting the neighborhood aesthetic and functionality.
The PID 21 Advisory Board will meet quarterly. The first public meeting is TBA.