Wednesday, July 18, 2001 | 10:45 a.m.
The Henderson Redevelopment Agency approved on Tuesday $250,000 in rent money to the Nevada College of Pharmacy in exchange for an agreement from the college to move downtown.
The 3-1 vote closed a deal first aired by the agency's advisory commission in June.
City officials have defended the large expenditure of taxpayer money by noting that the college, when running at full capacity, will bring about 300 people downtown on a daily basis. They say it will provide a solid bump up for efforts to revitalize Water Street.
Council woman Amanda Cyphers, an agency officer, cast the sole dissenting vote. Councilman Jack Clark was absent.
The college is an institution with low overhead and a high profit margin, Cyphers said, adding that she was looking out for the taxpayers' pocketbook.
The $250,000 in rent money should cover the expenses of moving the pharmacy college from rented office space in Green Valley to an assemblage of modular offices at the corner of Basic Road and Water Street.
The three-year college, open since January, plans to move to its new location by September, when enrollment is expected to increase to 123 students. Thirty-eight students are currently in classes.
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