North Las Vegas has secured water distribution rights for the Apex Industrial Site to ensure new permits are issued efficiently. This will allow North Las Vegas to streamline the permit and utility process for new tenants making the site more attractive to businesses, according to North Las Vegas Mayor John Lee.
“One of the first things I did as Mayor was work to streamline the City’s permitting and business processes,” Mayor Lee explained in a statement to the press. “[This agreement] ensures we can keep our competitive edge as we attract the world’s most exciting companies to our community.”
North Las Vegas Retains Water Weight in Permitting Process
When companies such as Faraday Future and Hyperloop Technologies agreed to settle in North Las Vegas’ Apex Industrial Park, the city’s ability to issue water permits and approve new services was an important part of the negotiation process.
North Las Vegas officials had developed a streamlined permitting process, allowing them quickly vet applications from potential new tenants. Under the agreement, the Southern Nevada Water Authority would complete a $70 million infrastructure project to bring water connections to the Apex site, and provide water to the North Las Vegas Utilities Department at a wholesale price. The NLV Utilities Dept. would supply water to tenants at retail prices while having final approval of new contracts and tenants.
The terms of this agreement were set when legislators initially approved the zoning and tax incentive package for the Faraday and Hyperloop facilities at the Apex Industrial Park. However, during the special session in December, a bill was passed voiding the original agreement and granting the Southern Nevada Water Authority exclusive provider rights.
In the seven months since then, Mayor John Lee and North Las Vegas officials have worked tirelessly to reinstate the terms of the original agreement. In late July, an agreement was reached between the City and the Water Authority. All that remains is state legislative approval of the revised arrangement.
Apex Park Tenants Set to Move In, Make a Splash
Faraday Future recently received final approval to begin grading the land for their $1 billion electric vehicle manufacturing facility. Hyperloop Technologies completed the first successful test of their groundbreaking, futuristic transit system, and plan to develop more permanent testing facilities in the future.
These tenants and others like them have already taken the first steps toward moving into the Apex Industrial Park. NLV officials and residents eagerly anticipate these new neighbors and look forward to the tax revenue and economic benefit they will bring. Nevada and NLV city officials successfully attracted companies with a combination of tax incentives and a shared vision for NLV as a hub for forward-thinking, technology-based businesses.
The capital required to complete the wastewater and water supply infrastructure is funded through state bonds which will be purchased by tenants such as Faraday Future to help reimburse the City. Hyperloop has paid a $50,000 deposit for the site as well as a half million dollar bond for water delivery.
Plans for the official opening date of the Apex Site are still pending.