December 13, 2022 – INDUSTRY NOTICE

RE: Adjustment of Design Initiation Advance Fees

Effective January 1, 2023, NV Energy will adjust the design initiation advance fees for formal projects in southern Nevada. These fees cover the costs of work performed by NV Energy up to the point of execution of the line extension agreement, and will be applied to the customer’s total project cost. If a project is canceled prior to the execution of a line extension agreement, the unused balance will be refunded.

Click here for the revised fixed advance fees by project.

Should you have any questions about design initiation advance fees for your project, please contact us at (702) 402-8400.

Sincerely,

Eric Gernhart
Manager, Rule 9 Contract and Joint Use Telecommunications

 

A renewed commitment to conservation helped Southern Nevadans reduce community-wide water consumption by more than 7 percent in 2022, saving 5.8 billion gallons in one year.

Over the past 20 years, the community has implemented a wide range of comprehensive water conservation initiatives to change how it uses water. These conservation efforts helped Southern Nevada consume 32.5 billion gallons less water in 2022 than in 2002, despite a population increase of approximately 780,000 new residents during that time.

To ensure businesses and residents continue to be water smart, the Southern Nevada Water Authority (SNWA) and its member agencies have enacted several new conservation measures to drive down water consumption and ensure the Las Vegas Valley has a sustainable economy and water supply.

SNWA continues to see a strong response from the business, HOA and multi-family residential sectors. Many of these property owners are actively replacing decorative grass in streetscapes, medians, common areas and other locations where it is used for aesthetics and not recreational purposes.

Under Nevada law, by the end of 2026, non-functional grass at commercial complexes, HOA common areas, government facilities and multi-family properties may not be irrigated with water delivered by SNWA member agencies. The law will save billions of gallons of the community’s water supply when fully enacted.

The SNWA Water Smart Landscapes (WSL) rebate currently provides a cash incentive of up to $3 a square foot to qualifying properties to replace grass landscapes with drip-irrigated trees and plants (some restrictions apply). The SNWA is encouraging businesses to apply for the WSL rebate sooner rather than later while funding is available.

For more information about how your business can be part of the conservation solution, visit snwa.com.

 

Conservation efforts helped Southern Nevada consume 32.5 billion gallons less water in 2022 than in 2002, despite a population increase of approximately 780,000 new residents during that time.

The SNWA is encouraging businesses to apply for the Water Smart Landscapes (WSL) rebate while funding is available and before the 2026 deadline to meet the requirements of a new state law prohibiting decorative grass.

NAIOP Southern Nevada 26th Annual Spotlight Awards NAIOP in the Hamptons Saturday, March 25, 2023 Red Rock Casino Resort 11011 W. Charleston Blvd. | Las Vegas, NV 89135 6 pm Cocktail Reception 7 pm Dinner and Awards Ceremony After Party Immediately Following until 11:30 pm Sophisticated Coastal Cocktail Attire Sponsorships are selling fast! Opportunities are […]

Class is officially in session for the Developing Leaders Institute Class of 2023! DLI classes are held on the 2nd Monday of each month and will take place at the CBRE office. This year’s class consists of 22 professionals in the commercial real estate industry who will learn all things development from various subject matter experts. After each class, there is intentional networking at Born & Raised with the class teachers, NAIOP Board Members and DLI Alumni to further show this organizations commitment to the younger classes’ success.

DLI Class #1 – Commercial Real Estate Overview

The first DLI class was held on October 17, 2022 and was led by the President of Thomas & Mack Development Group, Rick Myers. Rick begun the class by discussing an article that he asked the class to read prior to meeting.  The article covered the story of T. Boone Pickens as he navigated a market takeover and showed what it takes to be forward thinking and persevere amongst your competitors.

In addition to highlighting what it takes to be successful in the business, he provided a basic overview of the industry from the various product types, to financing and development. He provided examples as to how each product type is evolving and offered insight on how to stay on top of trends and lead the market.

To conclude the first class, the group voted for class president and class vice president. Congratulations to Chris Molina with McDonald Carano for being nominated as class president and Megan McInerney with Colliers International for being nominated as class vice president.

Thank you to MDL Group for sponsoring this class.

DLI Class #2 – Market Analysis & Site Selection

The second DLI class was held on November 14, 2022 and began with a current economic overview led by John Restrepo, Principal of RCG Economics. John provided a macro view of the economy and went into detail on the Nevada economy as well as offered insights into how these trends effect the commercial real estate market. He also went into detail about what states are best to do business in and why companies chose to do business in those states. Overall, Nevada came in at #39 on the list.

The second portion of the class was led by Adam Malan, Vice President at Colliers International and Ryan Martin, Senior Vice President at MDL Group, who spoke about market analysis and site selection. Both shared examples of completed projects and walked through the initial site selection process. They explained the risks you take and hurdles that you must overcome to develop successful projects.

Thank you to Schnitzer Properties for sponsoring this class.

DLI Class #3 – Due Diligence, Planning and Entitlements

The third DLI class was held on December 12, 2022 and was led George Garci of G.C. Garcia Inc., and Marianna Hunnicutt with Kimley-Horn and Associates.

George’s firm, the red tape Sherpas, taught the class the importance of investing in high quality due diligence up front in a deal to save all parties time and money later on. He provided many examples of situations that could have been avoided by better due diligence in the planning stages of a project.

Marianna taught the class the importance of understanding the various jurisdictions that review your projects as well as discussed various factors that play into the engineering of a project from mapping, drainage, traffic, utilities, etc. She tasked the class with their first group project where they were given a blank site and had to lay out a project while being aware of ingress/egress, grading, drainage, etc. The class took away a lot of valuable lessons from this group activity.

Thank you to G.C. Garcia, Inc for sponsoring this class.

DLI Class Vice President
Megan McInerney

Associate Vice President
Colliers International
Direct 702 836 3700
Megan.McInerney@colliers.com

“Blow, blow, thou winter wind Thou art not so unkind, As man’s ingratitude.”
– William Shakespeare

Storms pounding the pacific northwest.  Accumulation measured in feet.  “Atmospheric River” is again part of daily conversation.  Odd year.  Jon’s grumpy(ier).  Kerrie’s resolution to clean up her language died 2 weeks ago.

It must be time for another Legislative Session.

But while certain constants remind us of what is to come, such as Kerrie’s texts increasingly mentioning waterfowl, certain changes give hope that some things will be different.

The election of Joe Lombardo as Governor is one of those changes, and a direct message from the voters to the parties that candidates matter; platform matters; and to borrow one from Ralston, #wematter.  While the national stage is important, there are larger issues at home, and it is time to start dealing with these things, as opposed to hastily adopting poorly conceived legislation simply to waive around a “vanity plate.”

On January 23, 2023, Governor Lombardo sent a message to Nevadans on his way out the door, when he responded to a reporter’s question of what he was most looking forward to as Governor by muttering into a hot mic, “getting sh*t done.”  The message, combined with the more formal speech, could not have been more clear: budget surplus, but mitigated and targeted spending, dollars spent will come with accountability, and almost seemingly answering NAIOP’s mantra for the last several years, provide actual executive leadership in the two most critical issues facing Nevada – water and land.  And while these resources are regulated by the federal government, Governor Lombardo made plain his intent to roll up his sleeves and “get sh*t done.”

And so, as Jon and Kerrie delve into pre-filed bills and track BDR’s, we do so with a different set of “eyes.”  Bills and BDR’s put forth seemingly assuming a “rubber stamp” will likely not be as easy to move.  Legislation assumed to be DOA suddenly has a pulse.  And Carson City, sure as the winter snow will fall, will come to life with new relevance in 2 short weeks.

We look forward to seeing you in March.

 

 

Jon Leleu
Attorney/Lobbyist
Argentum Partners
jleleu@argentumnv.com

Kerrie Kramer
Lobbyist
Argentum Partners
kerrie@argentumnv.com

 

It’s the most wonderful time of the year! This holiday season, the NAIOP Community Service Committee has given back in HUGE ways.

In October, the committee and membership collected food, paper goods, and monetary donations to support Helping Hands of Vegas Valley. This year, donations weighed in at over 700 pounds! Helping Hands has a need for donations and volunteers year-round to assist in the continued support of our community. If NAIOP members are interested in signing up for additional events, check out their website to see ways you can get involved.

Throughout the month of November, the committee partnered with Communities in Schools and Vegas Youth Ambassadors for the 10th annual Thanksgiving Family Meal Collection and Delivery. This year, the group supplied 30 families with a large turkey, and all the fixings for a Thanksgiving meal. Through the immense generosity of our committee and members, we were able to supplement each family’s pantries with goods to last the entire holiday season and a grocery gift card to purchase perishable goods. Thank you to all who assisted in this year’s collection and delivery!

Wrapping up the end of the year, our committee partnered with Catholic Workers to assemble and distribute 150 care packages at their daily homeless meal service. The care packages were full of hygiene products, snacks, gloves, blankets and more. The look on the communities faces that morning as we passed out the care packages filled us all with so much gratitude. Next, the committee partnered with Children’s Foundation of Las Vegas (formerly CASA Foundation) for their annual toy drive. The committee and membership showed SO much support for this event… it was incredible. Collectively, the group raised $10,200.00 in checks, $1,540.00 in gift cards and additional gifts totaling approximately $5,600.00. WOW!!

All these community efforts would not be possible without the support of the membership, individuals, and companies. We are so thankful to each and every one of you, and can’t wait to continue serving the community with you all in 2023.

We are always looking for new members to join the committee! Contact any committee member for more information.

 -Lauren Willmore and Megan McInerney

January 2023  

In response to the megadrought impacting the Colorado River Basin and declining water levels at Lake Mead, the federal government declared a Tier 2 water shortage for 2023, reducing Southern Nevada’s water supply by 8 billion gallons this year. Southern Nevada’s commitment to water conservation and its investment in critical infrastructure have prepared the community for the water supply reduction.

To further ensure the community’s sustainability and economic security, the Southern Nevada Water Authority (SNWA) and its member agencies are implementing additional conservation measures that comprise all sectors of the community.

The measures include limiting residential pools to 600 sq. ft. surface area and prohibiting new homes and developments from installing grass landscaping and/or spray irrigation.

The City of Henderson and Las Vegas Valley Water District (LVVWD) adjusted water rates so all residential customers receive the same amount of water at each water rate tier. Additionally, LVVWD implemented an excessive use charge to encourage the largest residential water users to conserve.

In the business sector, the measures include reducing golf course water budgets, prohibiting new golf courses, and banning any new water features, including on the Las Vegas Strip.

SNWA also worked with NAIOP and business leaders to eliminate the use of evaporative cooling in new construction projects that apply for building permits after September 1, 2023. Evaporative cooling is Southern Nevada’s second largest water use after landscape irrigation, and other non-evaporative cooling technologies exist for a more water sustainable approach for future building designs.

Additionally, SNWA continues to implement Nevada’s non-functional grass law that requires the replacement of all decorative grass at commercial, multi-family residential and homeowners associations by the end of 2026.

For more information about how your business can be part of the conservation solution, visit snwa.com.

January 2023  

NAIOP Southern Nevada has announced its newly elected officers and directors for 2023, led by President Reed Gottesman.

Gottesman, senior vice president and Las Vegas regional manager for Schnitzer Properties, has been with the company for more than 15 years. He manages a regional team of 50 seasoned real estate professionals, 1,900 tenants and about 11 million square feet of multi-tenant industrial, retail and office space in the Las Vegas area. Before joining Schnitzer Properties in 2008 as assistant vice president of operations, Gottesman was an industrial broker in the South Bay port market of Los Angeles with CBRE. He began his professional career on Wall Street as a NASDAQ market maker in 1997 with Deutsche Bank Capital Markets. He has volunteered hundreds of hours to NAIOP Southern Nevada, serving on the executive board of directors and chairing the programs committee, as well as serving as the committee’s board liaison.

NAIOP Southern Nevada’s 2023 Board of Directors includes the following officers:

  • President – Reed Gottesman, Schnitzer Properties
  • President Elect – Cassie Catania-Hsu, CBRE
  • Treasurer – Cassie Catania-Hsu, CBRE ;
  • Secretary – Julie Cleaver, The Howard Hughes Corporation;
  • Immediate Past President – Hayim Mizrachi, MDL Group;
  • NAIOP’s directors for 2023 include:

    • Lisa Brady, Prologis
    • Shani Coleman, Clark County Economic Development
    • Phillip Dunning, Panattoni Development Company
    • Matt Hoyt, LaPour
    • Marianna Hunnicutt, Kimley-Horn
    • Venessa McEvoy, Cushman & Wakefield
    • Steve Neiger, Colliers International
    • Michael Newman, Compass Development
    • John Restrepo, RCG Economics
    • David Strickland, Thomas & Mack Co.
    • Dan Tuntland, DJT Real Estate
    • Katrina Bruce, NAIOP Southern Nevada Chapter Executive

    October 2022 – Protect Yourself at All Times 

    Las Vegas is the Fight Capital of the world. Boxing’s earliest days in Las Vegas were in the 1950’s with a bout between heavyweights Archie Moore and Nino Valdes held in front of 6,000 fans sitting on wooden chairs at Cashman Field. Fast forward to present day, the UFC is consistently breaking attendance records at T-Mobile Arena and attracting media buys from around the world.

    Being born and raised in Las Vegas, I was a fight fan. At the beginning of every fight, you hear the referee give the fighters the same instructions.

    “Let’s have a clean fight. Obey my instructions and protect yourself at all times.”

    Floyd Mayweather is perhaps the most famous fighter connected to Las Vegas. September 17, 2011, he challenged Victor Ortiz for the WBS Welterweight title at the MGM Grand Garden Arena.

    The fight started in the usual way. The national anthem was sung by Jasmine Villegas. Ortiz made his way into the ring. Mayweather was escorted to the ring with rapper 50 Cent by his side. The referee gave those famous instructions. The bell rang. The fight would end in the most peculiar way.

    Here is the entry from Wikipedia about the fight.

    Mayweather controlled the fight from round one to three. But in the fourth round, Ortiz hit Mayweather in the face with an apparently intentional headbutt. Referee Joe Cortez immediately called timeout and penalized Ortiz a point for the foul.

    Ortiz, acknowledging his wrongdoing, hugged and kissed Mayweather in the corner. Cortez motioned the fighters back together to resume the fight. The fighters touched gloves. Then, with the referee looking away from Mayweather, and as the fighters separated from the hug, Mayweather caught Ortiz with a left hook. Ortiz was stunned by the punch and, still not raising his hands to defend himself, was hit again with a flush right to the face.

    Ortiz dropped to the canvas and was unable to beat the count.

    Ringside commentators were trying to make sense of what we all saw. “Ortiz was apologizing, and Mayweather was punching,” one said. “It was legal,” the other replied.

    When Mayweather was accused with sucker punching Ortiz, he replied simply, “in the ring, you have to protect yourself at all times.”

    Isn’t that interesting?!

    NAIOP Southern Nevada is “in the ring” of commercial real estate development. Like any industry we have to protect ourselves at all times. NAIOP Southern Nevada does this through our volunteer government affairs committee chaired by Steve Neiger and with the help of our chosen lobbyists Argentum Partners guided by Jon Leleu and Kerrie Kramer.

    For the rest of this article I am going to pass the pen to Jon Leleu to talk about what we’re focused on protecting ourselves from and how we go about protecting our industry.

    By Jon Leleu

    Although we may trust in our numbers, in our deals, and in our relationships, the development industry must always triple-check, make inquiries, and fully understand when decisions are made that affect our projects.

    2022 was a non-legislative year and yet we found ourselves protecting from several issues.

    • Proposal and near adoption of a moratorium on evaporative cooling;
    • Adoption of the international energy conservation code, and creation of a code committee;
    • Adoption of the IFC by City of Las Vegas and Henderson, though the rest of the municipalities in the region have differing fire codes;
    • Legislative modifications to the tax code and enabling municipalities to implement policies such as linkage fees.

    While Ortiz may be upset at Floyd’s tactics, the result of Ortiz finding himself on the canvas, could have, and should have, been expected.

    So, too goes the world of NAIOP’s Government Affairs committee. While the professionals who attend these meetings and participate in the process have many relationships and a good understanding of the system or process, circumstances can change, throwing what we all knew as true, to be turned upside down.

    As I “entered the ring” of politics a couple decades ago my mentor told me; always tell the truth, always do the right thing, and always, always, always be the smartest person in the room. That last part – being the smartest – is the same as “protect yourself at all times.”

    Having the foresight to pick up the phone and ask questions, to think of different creative angles and have conversations with those individuals, helps prevent an unseen hook and an unfortunate fall to the canvas.

    We’re going into a legislative year in 2023. Issues that we have successfully protected against will remerge in the same or even different forms.

    Our “ring” grew dramatically this year and our bandwidth as a volunteer association has been stretched. We’d love to have more participation in the Government Affairs committee. Even if it means just picking up the phone to make a needed call.

    Please consider joining. Those interested can email Chair Steve Neiger to be added to the meetings schedule.

    Jonathan Leleu, Lobbyist/Attorney
    jleleu@argentumnv.com

     

    Hayim Mizrachi, CCIM
    MDL Group
    NAIOP Southern Nevada President
    hmizrachi@mdlgroup.com