R-6-2026 - For possible action to approve a Resolution consenting to certain undertakings of the City of Las Vegas Redevelopment Agency (Agency) in connection with the Agency Reimbursement Agreement between the Agency and Same Page LLC (Tenant) concerning the reimbursement of the cost of certain tenant improvements in connection with a retail lease between the City of Las Vegas (City) and Tenant for certain real property located at 70 East Bonneville Avenue, Suite 150 (APN 139-34-201-027) is in the best interest of the public and to be in compliance with and in furtherance of the goals and objectives of the City of Las Vegas Downtown Master Plan - Redevelopment Area 1 - Ward 3 (Diaz) [NOTE: This item is related to Council Items 37, 38 (R-7-2026) and RDA Item 11 (RA-5-2026)]

Summary

This item seeks approval for the City of Las Vegas Redevelopment Agency (Agency) to enter into an Agency Reimbursement Agreement with Same Page LLC (Tenant). The agreement concerns the reimbursement of costs for tenant improvements to a retail space located at 70 East Bonneville Avenue, Suite 150. The City will lease this 2,630 sq ft property to Same Page LLC for a retail restaurant, identified as "Boom Bang Fine Foods and Cocktails". The Agency will reimburse the Tenant for tenant improvement costs up to a maximum of $1,000,000.00. The Tenant is responsible for reimbursing the Agency for a portion of these costs, as detailed in the agreement. The total estimated cost for these improvements is $1,388,000.00, covering construction, finishes, millwork, and restaurant equipment. This action is considered to be in furtherance of the City's Downtown Master Plan and aims to foster economic benefit and create employment opportunities within the Redevelopment Area.

Citizen Impact

This agreement supports the development of a new retail restaurant at 70 East Bonneville Avenue, which is expected to foster economic benefit and create jobs. Residents may see increased dining options in the downtown area.

Confidence

high