Mayor Promised Development Amid Rising Foreclosed Houses
September 1st, 2009 by 
Joseph Smith
Mayor Shari Buck of Las Vegas, Nevada has revealed her plan to provide guidance to the city to help it overcome the effects of recession.
In her speech, her first as mayor of North Las Vegas, Buck has pledged to boost the development process of the city amid the increasing number of foreclosure houses.
According to industry experts, Buck reassured local businesspeople in her speech by promising to help them survive. She told them that she is trying to recruit nearly 50 companies. She cited several failed businesses in the area, such as the closure of three branches of Dunkin’ Donuts and the dry cleaning company that she owns.
Buck told businesspeople that she will work with the Chamber of Commerce North Las Vegas to develop ways to help city businesses. She believes that if everyone is taking part, local businesses will remain open.
Buck delivered her speech before participants at the eighth annual “Directions 2009: Economic outlook of North Las Vegas,” which was sponsored by the North Las Vegas Chamber and the Las Vegas Business Press.
According to industry analysts, Buck’s speech indicated support for local businesses. She pledged the service and assistance of both the chamber and the city council. She said that homebuilders and professional organizations are trying to determine what went wrong so that if the economy recovers, there will be no problems anymore.
However, some guest speakers in the event, such as Jeremy Aguero of Applied Analysis and Richard Lee, vice president and public relations director at First American Title Co., were not optimistic that recovery would come to the city soon.
Aguero pointed out that the unemployment rate in North Las Vegas has reached 14.8 percent, an increased compared with the 13.1 percent rate in the entire Southern Nevada and nearly 12.5 percent in the whole of Nevada.
Furthermore, one in every 24 houses in the city is at risk of foreclosure, compared with one out of 46 properties in Clark County. Statewide, one in every 56 houses is at risk of foreclosure.
Industry experts said that North Las Vegas is the foreclosure capital of Las Vegas, adding that things could still get worst due to the unabated rise of unemployment.
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