Las Vegas Sun

November 18, 2017

Currently: 55° — Complete forecast

Report: Local economic rebound likely in 2011

Las Vegas economic forecaster John Restrepo is out with another gloomy report on the Southern Nevada economy.

Restrepo, of Restrepo Consulting Group, points out that the June unemployment rate in Clark County of 12.3 percent compares unfavorably to the 8 percent rate in Phoenix -- a city hit hard like Las Vegas by the real estate catastrophe that started with the subprime mortgage crisis.

"Despite the significant problems in Phoenix, like the amount of developable land compared to Southern Nevada, Phoenix has an unemployment rate that is more than 4 points lower than Las Vegas. Why you may ask. The answer is simple: Phoenix has a more diverse economy that is not so heavily dependent on tourism and discretionary spending, even with a less 'business friendly' tax structure than Nevada," Restrepo writes in the latest edition of his Economic INsight report.

With U.S. consumer confidence remaining weak and Americans saving more and spending less, visiting Las Vegas isn't a high priority on most Americans' to-do lists. The result: continuing economic weakness locally.

"The major problems plaguing the Southern Nevada resort, construction and professional services industries will, in our opinion, continue to severely impact the whole economy well into 2010 and probably into 2011," Restrepo writes.

The full report is available here.


The Nevada State Contractors Board is advising contractors to sign their workers and supervisors up for new state-mandated safety training courses.

To enhance safety in the construction workplace, the 2009 Nevada Legislature enacted legislation that requires workers to complete an Occupational Safety and Health Administration 10-hour safety course and supervisors to complete a 30-hour OSHA Training course no later than 15 days after being hired. The measure takes effect Jan. 1. Once the courses are completed, the construction worker will receive a "completion card" that must be presented to the employer. The card is valid for five years.

OSHA’s 10-hour construction course is an introduction to OSHA and its construction standards, covering several subparts of the standards with emphasis on Nevada enforcement activities. OSHA’s 30-hour supervisor course also provides training in OSHA’s construction standards.

Both courses emphasize construction safety, health hazard recognition and prevention standards.

The state Department of Business and Industry’s Division of Industrial Relations is responsible for approving the OSHA-10 and OSHA-30 courses. Federal OSHA training guidelines that parallel Nevada’s requirements are available at the OSHA Web site.

OSHA-10 and OSHA-30 courses are offered by numerous organizations including Associated Builders and Contractors; Associated General Contractors and the Safety Consultation and Training Section of the Department of Business and Industry. In addition, the College of Southern Nevada offers courses and some online courses are available.


The State Contractors Board has revoked three contractors' licenses involving bankrupt ADT Construction Group Inc.

ADT Construction Group Inc., license number 53464 (General Building); ADT Construction Group Inc., dba Advanced Demolition Technologies, license number 50051 (Wrecking Buildings, Unclassified, Removal of Asbestos, Designed for Lead Abatement Only); ADT Construction Group Inc., dba S&G Fireproofing, license number 50081 (Coatings of Stucco & Cement); and Logic LLC., license number 70943 (General Building), were found in violation for failure to establish financial responsibility; failure to respond to a written request from the board; and for the partnership, corporation, firm or association participating in a prohibited act.

The licenses 53464, 50051 and 50081 were revoked. Due to the licensee’s bankruptcy, no fines or investigative costs were assessed. Ruben Vasquez was ordered to remove himself as a member and qualified individual of Logic LLC., which must find a suitable qualified individual in order for the license to remain active.


Business and property owners and managers can learn how they can save energy and money at a free workshop in Las Vegas presented by the University of Nevada, Reno’s Nevada Small Business Development Center Business Environmental Program, on Aug. 18.

The seminar will provide information on how retail businesses, offices and commercial buildings can conserve energy and reduce operating costs by making changes in things such as light, ventilation and hot-water systems.

"Investments in energy efficiency outperform almost all other investments available today, often achieving 30 percent to 200 percent simple return on investment at minimal risk," said Peter Millar, Energy Management Specialist with the Nevada Small Business Development Center.

Presenters will also discuss how businesses can change building-use patterns and operating procedures to become more energy efficient and positively affect their bottom line at low to no cost.

Information will be provided on tax credits and tax deductions available for energy-saving investments, as well as cash incentives available from NV Energy.

Financing options from a variety of funding sources will also be discussed.

The workshop is set for 2 to 5 p.m. Aug. 18 at NV Energy, 6226 W. Sahara Ave., in the Wengert Room.

Although the seminar is free, interested members of the business community should register online or call 866 638-7232 to reserve a space. Space is limited, and registrations will be accepted on a first-come, first-served basis.

The Nevada Small Business Development Center at the University’s College of Business was one of four small business development centers in the country recently awarded funding from the U.S. Small Business Administration for projects offering energy-efficiency assistance to small businesses.

The center was awarded a $125,000 Small Business Sustainability Initiative grant this year, and will be eligible for $125,000 grants each of the next three years as well, as funds are available.

The recent grant will allow the program to provide workshops that target several specific industries, in addition to office and retail business, such as food service, grocers and hotels. Businesses seeking more information on the workshops or how to address environmental issues are encouraged to contact the Nevada Small Business Development Center Business Environmental Program at the University of Nevada, Reno, 775 689-6676.


Colliers International Las Vegas Managing Partner Michael Campbell was appointed to the city of Henderson Planning Commission for Ward 2.

The two-year appointment, made by Henderson City Councilwoman Debra March, was announced at the City Council meeting on Aug. 4.

Campbell joined Las Vegas Colliers in January after serving as director of new home sales for one of the nation's top home builders.

Previously, he was managing partner of First Residential RE Services and vice president/division manager of Coleman Construction and Coleman Homes in Nevada and California. In addition to his role with Colliers, Campbell currently holds a Nevada real estate license and is co-founder of the Nevada Sales and Marketing Council. He is also a member of the Henderson, Las Vegas and North Las Vegas chambers of commerce, Nevada Development Authority, the Nevada Bankers Association, a sponsor of NAIOP Southern Nevada, SIOR (Society of Industrial and Office Realtors) Nevada Chapter and CCIM (Certified Commercial Investment Member), and is a past member of the political affairs committee of the Greater Las Vegas Association of Realtors and of the Southern Nevada Homebuilders Association.


The state Real Estate Division has suspended the community manager certificate of Irene Iwanylo of Henderson.

She was the certified community manager for several common interest communities doing business as New Vision Community Management Inc.

The suspension prohibits Iwanylo from acting as a community manager for any common interest community in Nevada and/or supervising any other provisional or certified community manager. Although Iwanylo's certificate has been inactive since May 1, the suspension prevents her from reinstating the license and performing management duties.

The division plans to file a complaint with the Nevada Commission for Common Interest Communities and Condominium Hotels.

"Our investigation uncovered a pattern of inappropriate practices, therefore it was imperative that we act quickly to protect the various common interest communities along with their members," said Real Estate Administrator Gail J. Anderson.

Separately, the Nevada Commission for Common-Interest Communities and Condominium Hotels levied fines and revoked the community manager certificates of two other licensees.

The Real Estate Division found that Las Vegas-based Community Manager Regina Marie Serrano engaged in the misappropriation of funds from homeowners’ associations in Southern Nevada. Serrano failed to appear at three noticed cases presented to the CICCH Commission, so a default hearing was held.

The commission upheld the allegations cited in the complaints and took the following action:

--Serrano’s community manager certificate was revoked.

--Serrano was ordered to pay restitution to all parties.

--Serrano was fined $15,000.

--Serrano was ordered to pay investigative and hearing costs of $2,425.

The Real Estate Division also found that Henderson-based Community Manager Barry W. Floyd failed to maintain a records inventory as well as failed to account for cash and bank account withdrawals, in violation of state regulations. Floyd was noticed for two hearings before the commission, and he also failed to appear. At the default hearing, the commission found all allegations to be supported and instituted the following discipline:

--Floyd’s community manager certificate was revoked.

--Floyd was ordered to pay restitution to all parties.

--Floyd was fined $10,000.

--Floyd was ordered to pay investigative and hearing costs of $1,694.50.


SIOR -- the Society of Industrial and Office Realtors -- is having its monthly luncheon meeting Wednesday (Aug. 12) at 11:45 a.m. at Maggiano's Little Italy at Fashion Show Mall. The speaker is Shane Hayes of the Commercial Alliance. For information, e-mail [email protected].

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