NAIOP News

Featured Sustainable Project Form

Jun 21, 2010
NAIOP Sustainable Development Committee announces new opportunity for membership to be recognized through quarterly Sustainable Feature The NAIOP Sustainable Development Committee is proud to announce the first Sustainable Feature highlighting key projects, products, buildings and companies within membership that exemplify sustainable development. The Sustainable Feature provides an opportunity to recognize NAIOP members for their outstanding design, engineering, development talents and professional achievements that make a significant impact, contribution and improvement to our community and local environment. We are currently accepting submissions for future Sustainable Features. Nominate your building, project or company here.

Downloads: Submission Form

Downloads: Amercian Nevada Company's Corporate Center VI

GOVERNOR MAKES APPOINTMENTS TO NEVADA COMMISSION ON ECONOMIC DEVELOPMENT

Jun 15, 2010
Anthony Dazzio appointed, Charles Myers re-appointed

Carson City - Governor Jim Gibbons today announced the appointment of Anthony Dazzio to the Nevada Commission on Economic Development (NCED). Dazzio is Senior Vice-President of Business Development and Governmental Affairs for the general contracting firm of Burke Construction Group in Las Vegas. Previously, Dazzio worked as executive manager of business planning and growth at NV Energy. Dazzio is also a past-president of the Southern Nevada Chapter of NAIOP, the premier organization representing commercial development in Southern Nevada.

“I believe Anthony Dazzio’s experience in business development will be a strong and productive asset for the Nevada Commission on Economic Development,” Governor Gibbons said, “He will be a terrific addition to the Commission at a time when Nevada needs to attract new jobs.” “I am proud and pleased that Governor Gibbons has selected me for this position,” Dazzio said, “I am looking forward to working with the other Commission members to continue efforts to diversify and stimulate our economy.” Governor Gibbons also announced the re-appointment of Charles Myers to the NCED. Myers, from Elko, Nevada, was originally appointed to the NCED in November of 2009.

The Nevada Commission on Economic Development works to develop and maintain a diverse economic base in Nevada in order to ensure a healthy economy for the Silver State.

Downloads: NCED Press Release

Congressman Heller's Response to Carried Interest Legislation

Jun 10, 2010
Download letter from Congressman Dean Heller to review his response to our letter.

Downloads: Congressman Heller Letter 06-05-2010

Senator Reid's Response to Carried Interest Legislation

Jun 07, 2010
Download letter from Senator Harry Reid to review his response to our letter.

Downloads: Senator Reid Letter 05-24-2010

Oppose Real Estate Tax Increases in H.R. 4213

Jun 02, 2010
NAIOP Southern Nevada Chapter addresses opposition to H.R. 4213, the "American Jobs and Closing Tax Loopholes Act of 2010" to Representatives Shelley Berkley, Dina Titus, and Dean Heller.

Downloads: Letter to Represenative Shelley Berkley

NAIOP Public Affairs Position Paper 2010 - 2011

Apr 15, 2010
NAIOP Southern Nevada (“NAIOP”) is working to support the acceleration of the recovery of our local economy. Our members develop, design, construct and manage the office, industrial, retail and mixed-use projects essential to sustain and grow business in the Las Vegas Valley. We are committed to improving the quality of life in our community and protecting our natural environment, including our limited land and water resources. NAIOP supports issues that are critical to the success of our member companies and the region. Download the complete Public Affairs Position Paper below.

Downloads: Public Affairs Position Paper 2010-2011

NAIOP NOW Advertising Opportunities

Mar 26, 2010
Take advantage of the 2010 NAIOPNow advertising packages and NEW 2010 reduced rates! Secure your digital banner space in the Spring, Summer, and Winter digital issues and your print ad in the Annual Fall printed issue of NAIOPNow and reach your target market! Take advantage of reduced rates by reserving a package today! Don’t miss the Spring digital issue! Reserve your ad space NOW!

Downloads: NAIOP NOW 2010 Rate Card

Spotlight Award Recipients 2010

Mar 22, 2010
Congratulations to all of our Award Winners. Download list below.

Downloads: 2010 Spotlight Awards Recipients

Proposed Changes to Clark County Code - Permit and Service Fee Schedule

Mar 04, 2010

Downloads: 2009 Fire Ordinance-Title13- Clark County Code

2010 Public Policy Initiatives

Feb 05, 2010
NAIOP Southern Nevada (“NAIOP”) is working to support the acceleration of the recovery of our local economy. Our members develop, construct & manage the office, industrial, retail and mixed-use projects essential to sustain and grow business in the Las Vegas Valley. We are committed to improving the quality of life in our community and protecting our natural environment, including our limited land and water resources. NAIOP supports issues that are critical to the success of our member companies and the region which are outlined in the 2010 Public Policy Intitiataives Statement below.

Downloads: 2010 Public Policy Initiatives

Committee Sign-Up

Jan 12, 2010
Join a committee in 2010! Download the committee descriptions and form below.

Downloads: 2010 Committee Sign-Up

Breakfast Meeting PrePay Form - 2010

Jan 05, 2010
Prepay for all 10 breakfast meetings and get one free! Download the form below.

Downloads: Breakfast Prepay Form

2010 Breakfast Programs Sponsorship Opportunities

Dec 15, 2009
Act now to be an Exclusive or Co-Sponsor a 2010 Breakfast Meeting. Download the flyer below for more information.

Downloads: Breakfast Sponsor Opportunities

Government Affairs News - September 2009

Sep 30, 2009
In this Issue: *No More Legislative Vacation *NAIOP Publicly Supports Pipeline Project *Kick off to Campaign 2010 *Committee on Community Priorities *Local business and government leaders form Green Chips

Downloads: Newsletter - September 2009

City of North Las Vegas - Bond Unit Cost Increase 07-01-2009

Aug 19, 2009
The City of North Las Vegas is in the process of increasing the line item unit costs on the Bond and Fee Estimate for private land development projects. Download the letter and attachments below for details.

Downloads: NLV-Bond Unit Cost Increase

DLI Class Summary - August 16, 2009

Aug 17, 2009
Bill Wilson, NSDC Kyle Nagy, CommCap Advisors Financing – Permanent Financing August 16, 2009 Bill Wilson of Nevada State Development Corporation (NSDC) shared with the DLI class about SBA Loans and what he does to help facilitate these loans in Nevada. The government administers SBA loans through NSDC, which is the only government sponsored Certified Development Company (CDC) in Nevada. Their most popular program for commercial development is the SBA 504 program that is used to encourage small business owners to buy their real estate with up to a 90% government sponsored loan. Key advantages of an SBA loan are; minimal down payment, a fixed below market interest rate, long term financing with no balloon payments, and collateral is limited to the assets that are financed. Typically on a 90% loan, a bank would loan 50% of the amount and receive a 1st Deed of trust, then the SBA would put up the remaining 40% for a 2nd Deed of trust. Through this program – they are able to offer SBA loans on projects up to $13Million. Bill later went on to show the class how to calculate the various fees and such associated with the SBA 504 loan. Next up was Kyle Nagy of CommCap Advisors. Kyle talked about permanent finance, which is typically done when either construction is complete, tenants are in and paying rent, you have 85-100% occupancy, or when you have a 1.35 DCR (debt coverage ratio). The reasons for moving from a construction or land loan to a permanent loan would be for the long term benefits, to get a fixed rate, to remove liability, or to make the loan transferable. He explained recourse loans vs. non-recourse loans (basically, having a personal guaranty and then not having a personal guaranty). Kyle then went into a few examples of loans for various buildings around town and the types of terms that were advantageous to those clients. He stated that conduit lenders remain out of the market, and most other players in permanent financing remain very conservative.

DLI Class Summary - July 20, 2009

Jul 21, 2009
David Jones, Nevada State Bank Financing – Land and Construction Only 2 ways to pay a loan. July 20, 2009 David Jones spoke to the DLI class about financing land and construction projects. He stated that this is a tough market right now for both land and construction projects, as both have stalled and the bank is being very picky with these types of financing. A primary consideration a loan officer has is developer’s exit strategy for the loan. The construction or land loan may be converted to a permanent loan, but there are only two ways that a real estate loan is repaid; either by sale or lease. David shared some of his ways and means to the class, he shared the tool that he uses to analyze every deal that comes across his desk. He said that within 15 minutes, he can tell with a high degree of certainty if a deal will work or not. His secret weapon being a spreadsheet, we went through a few examples including a ULI case analysis. The factors to success or doom for a project involve acquiring figures and prices for the big expenditures such as the construction contract, offsite improvements, architecture and engineering, due diligence reports, leasing commissions, developer fees, etc. Then you factor in the projected income minus the operating expenses that the project would generate, and what is the developers exit strategy, either selling the project in pieces, as a whole, or obtaining permanent financing. The last component of David’s process is to take into consideration an underwriters’ opinion of value as well as an appraisers’ opinion of value. After the above process, you basically get a thumbs up or thumbs down on a project. Of course projects that make it through this basic pre-qualification – would then be subject to verifying the figures. The bank is then able to use this to assess their risk with a project and assign loan stipulations and such.

Government Affairs News - July 2009

Jul 16, 2009
In This Issue: *Legislative Down Time *Interim Committees *Las Vegas City Council votes against increase in business license tax *March appointed to Henderson City Council *City of Las Vegas received federal stimulus dollars for energy project *APEX Overlay

Downloads: Newsletter-July 2009

North Las Vegas - Apex Overlay - June 2009 Draft

Jul 14, 2009
While members of our Government Affairs Group continue to work closely with the City of North Las Vegas regarding trying to better time approval of this Overlay and modifications to Title 17, please review the Overlay documentation (download below). The next meeting of the Apex stakeholders is on July 23rd. Comments are welcome via e-mail to : Johanna Murphy at murphyj@cityofnorthlasvegas.com. E-mail comments should reach Johanna by July 22.

Downloads: NLV-Apex-June09

Downloads: NLV Apex Overlay Comparison

City of North Las Vegas - Stormwater Construction Site Inspections

Jun 24, 2009
The City of North Las Vegas adopted a stormwater ordinance (Ordinance 2477 amending Title 8 of the NLV Municipal Code) to provide for the health, safety, and general welfare of the citizens of the city through the regulation of non-stormwater discharges to the system to the maximum extent practicable. Starting July 1, 2009, the city will begin enforcing this ordinance. Download the PDF below for a letter outlining the specifics.

Downloads: NLV-Stormwater Letter

Government Affairs News - June

Jun 24, 2009
In This Issue:
*75th Session of the Nevada Legislature Concludes
*Local Election Roundup
*City of North Las Vegas Stormwater Construction Site Inspections

Downloads: Newsletter - June 09

DLI Class Summary - June 15, 2009

Jun 16, 2009
Kevin Pentony, OGI Environmental Paul Burn, Heritage Surveys Steve Evans, CBRE Due Diligence June 15, 2009 A triple threat. Kevin Pentony, P.G., C.E.M. of OGI Environmental, Paul Burn of Heritage Surveys and Steve Evans of CB Richard Ellis all gave a separate presentation on the importance of Due Diligence and the respective components that should be considered in a deal. Kevin Pentony started the trio off and stated that due diligence in regards to commercial real estate is the “Process of inquiring into the environmental characteristics of a parcel of commercial real estate…usually in connection with a commercial real estate transaction.” The most common environmental report, Phase 1, is used to look for a myriad of factors including PCBs, leaking transformers, asbestos, and other hazardous materials that may have been on the site prior. Phase 2 report requires actually taking sampling of soil or groundwater. Lastly, Due Diligence may require cleanup/remediation, Phase 3. Paul Burn spoke next. He represents Nevada as a governor of the National Society of Certified Surveyors. He spoke of the ALTA survey and stated it is like the “Cadillac of surveys.” The purpose of an ALTA survey is determine the boundaries of a property as well as show improvements, easements, rights-of-way, and other elements impacting the ownership of land. Really helpful to the presentation was the mock ALTA survey that he provided. He stated that ALTA surveys are typically only good for 3-6 months. Steve Evans spoke last about the appraisal process. Appraisals are typically used for financing, transfer of ownership, litigation, or decision making. There are three basic types of appraisal reports; self contained (the most costly and most inclusive), summary, and restricted. The nature of value is determined by scarcity, desire, and purchasing power and there are three types of approaching it; cost approach, sales comparison, and income capitalization. A very helpful presentation tool was when Mr. Evans brought up different properties (apartment complex, retail strip center, residential subdivision, etc) and described which valuation process would typically be used.

DLI Class Summary - May 18, 2009

May 19, 2009
Jeff LaPour, LaPour Partners Site Selection - Pick your Dream Team May 18, 2009 Jeffrey LaPour of LaPour Partners, Inc. spoke to the DLI class regarding site selection of a commercial property. The topic he spoke about was determining the highest and best use for a site. He spoke about the “Eight Stage Model of Real Estate Development” including Idea inception, Idea refinement, Feasibility, Contract Negotiation, Commitment, Construction, Completion, and Property Management. He further emphasized that there are basically two approaches to Site Selection… 1. Site Looking for a Use 2. Use Looking for a Site Jeff has specialized over the years finding a site with a use already in mind. They have been successful with adding value to sites to make them more valuable, whether this be through zoning, or through other entitlement processes. He emphasized how important it is to pick your consultant team including attorneys, engineers, architects, contractors, appraisers and financial players as well as other additional consultants including leasing agents, property managers, market researchers, marketing consultants, regulators, accountants, and final users. He went over two case examples that he was involved in, one on Paradise Rd. in Las Vegas. Lapour was able to improve the entitlements on the parcel by gaining access from a different route, constructing an underground containment wash, zone changing, height variances and other enhancements. Through this process, he was able to create a desirable site location that double its appraised value. The second site was a condominium project in Laguna Beach, California and the trouble he went through to get entitlements with a very strict design review board. After completion and entitlement improvements, the City of Laguna Beach now recognizes the project as a great example of private and public collaboration.

DLI Class Summary - April 20, 2009

Apr 21, 2009
John Restrepo, Restrepo Consulting Group Market Analysis, The Good, the Bad, and the Ugly April 20, 2009 John Restrepo of Restrepo Consulting Group spoke to the DLI class about market analysis factors. He stated that when it comes to factual market characteristics – don’t be a grim reaper or a cheerleader – rather present the good, the bad, and the ugly. When looking at future scenarios, use data to your advantage with sensitivity analysis’s, or “what if scenario’s.” He recommended a few practical resources for acquiring market data including Postal Surveys, and the Nevada DETR website for employment statistics. One leading indicator that he has used over the years to determine economic indicators is the SOX index (semi-conductor production) which is a great way to determine the shape of the economy. The index presents a good picture because semi-conductors are in most all electronic devices including television, phones, etc. and if they are moving, other goods are as well. In his presentation – he did make a grim assessment of the Las Vegas commercial foreclosure scene, stating if we follow Phoenix’s example, which we typically do by 9 months, then Las Vegas will be knee high in commercial foreclosures real soon.

DLI Class Summary - March 16, 2009

Mar 17, 2009
Sallie Doebler, United Construction Personal Development “If you are not at the table, you must be on the menu” March 16, 2009 Sallie Doebler of United Construction gave a presentation to the DLI class on personal development. She stressed the importance of networking (net-wur-king) and fostering relationships. It is important to work on your personal pitch delivery and make sure that people you meet also know what you do for a living. One striking statement she said was, “If you are not at the table – you must be on the menu” – stressing the importance to be known by the people already in the game. She stated that a presentation is started every time you open your mouth in public. The importance of body language, conquering your nerves, as well as how to appear relaxed are all good traits to work on for your own personal development. Sallie then briefly described the Southern Nevada Chapter of NAIOP. Founded in 1986, it is the 3rd largest chapter in North America. She described how to get the most out of your NAIOP membership which included strong networking and committee involvement. Lastly, she briefly gave a description of all the various committees within NAIOP. Shortly thereafter, NAIOP 2009-10 DLI had a DLI representative at each NAIOP committee.