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IN BUSINESS REAL ESTATE NLV PROGRAM FINDS SUCCESS REHABBING VACATED HOMES By Brian Nordli staff writer T wo years ago, Rick Damian walked into a vacant home on Palo Pinto Lane in North Las Vegas and was instantly wor- ried. FOR MORE INFORMATION The grants program coordinator for the city Interested home buyers can contact Lockett-Green at 513-1293 or visit the Community Development Programs Center of Nevada at 2009 Alta Drive, Las Vegas, NV 89106. to of North Las Vegas was plan- ning the vacant rehab it for no more than $35,000 and re- sell it as part of the Neighborhood Sta- bilization Program. What he saw, though, looked way over the budget the federal grant allotted to fix it. The outside looked untouched, but inside, it had become a squatter's play- ground. The living room floor had burn marks, holes were punched into the leaks. It smelled of moisture, he said, even though it hadn't rained in weeks. "Who knows how long it was vacant? But the homeless were coming and go- ing," Damian said. Today, the inside of the home looks like it came out of a catalog. New faux- JOBS LVCVA AWARDS CONVENTION CENTER PAINTING JOB TO OUT-OF-STATE COMPANY tion vendors to stand out. By Richard N. Velotta senior staff writer T he Las Vegas Convention and Visitors Authority awarded a major painting con- tract to an out-of-state company, but the contract requires the winning bidder to use locally based painters and subcon- tractors. The LVCVA board of directors unani- mously voted to award a $1.62 million contract to Anaheim, Calif.-based Tech- no Coatings Inc. contractors, including two Las Vegas companies that bid $1.9 million and $3.1 million for the job. of the Las Vegas Convention Center. The paint schematic will change the mauve coloring to various shades of gray in Techno Coatings' bid beat four other mixed patterns. Exterior surfaces that are black or white won't be changed. The reason for turning the building to tones of black, white and gray is to allow tem- porary colorful signs posted by conven- The job will change the exterior color Under terms of the contract negoti- ated by the LVCVA, the winning bidder is required to use local union labor and contract with a local company for scaf- folding. Techno Coatings is expected to use 12 laborers on the job and all are re- quired to be local. NEGLECTED: Abandoned homes aren't always maintained by lenders that take them over. wood flooring was installed along with shaggy bedroom carpeting. The walls were fixed and the house has been fitted walls, and the ceiling was stained from for maximum energy efficiency. All the work was done within the budget. The city and four nonprofit developers have rehabilitated 58 other abandoned homes just like this one as part of the Neighborhood Stabilization Program. Since 2008, the city has filled 52 of the homes. The grant-supplemented pro- SAM MORRIS gram has reduced the number of vacant homes in the city and provided low-in- more than half the city's average median income. For example, a family of four, Damian said, could not make more than $33,000 to qualify. come families a stable, affordable hous- ing option. "The impact is that you not only have an improved area; you have a home that has been rehabilitated and a home buyer who has been educated through our sys- tem," Damian said. In 2008, North Las Vegas was allotted $8.6 million from the Housing Econom- The city also took steps to prevent fu- ture abandonment. Interested home buy- ers must take an eight-hour class to learn the responsibilities involved in owning a home and also must have a good credit score. purchase home, ic Recovery Act to purchase, rehabilitate and resell vacant homes. The city had been hit hard by the housing market crash and had one of the highest foreclo- sure rates per capita in the country. Damian said the city decided to spread the purchases throughout North Las Vegas to make sure as many neighbor- hoods as possible benefited. Officials also decided to call in energy efficiency inspectors to determine how to make sure each house was as "green" as possible. "In creating an efficiency model for these homes with energy-efficient ap- pliances, it helps a family lower their monthly bill," Damian said. "And it will be a high-performance home, so their dollar will go further." Most of the homes are then sold to families that earn a gross income of no The Exclusive Caterer for the Springs Preserve Superb food & service for corporate meetings, receptions, dinners, weddings & outdoor events. (702) 822-7715 | springs@culinaryartscatering.org culinaryartscatering.org © 2012 Culinary Academy of Las Vegas, an Equal Opportunity Employer/Program culinary arts catering | 26 NOVEMBER 2012 | 9