The City of Las Vegas approved providing $4.2M in funding for the Third Street Arts and Media Incubator project during its Nov. 4 meeting.
The Department of Economic and Urban Development recommended Las Vegas City Council approve reimbursing up to $4.2M in construction costs. Third Street, a local nonprofit, is developing the project and will have to pay for the remaining more than $3M.
City funding will be delivered from the Redevelopment Agency’s Special Revenue Fund, as opposed to the General Fund.
As things currently stand, the project consists of taking old cinema rooms and renovating them into a single large performance space. The space will consist of roughly 250 seats, a renovated lobby, a concessions area, backstage facilities and dressing rooms, among other features.
Third Street is also planning to incorporate a workforce development element, where it partners with Clark County School District and local colleges to create a funnel of local Las Vegas performers to fill entertainment jobs on the Strip. (Source: KLAS)
