Nevada Briefs - January 2008

Nevada Briefs

SNWA Enhances Rebate

Community residents and businesses who qualify for Southern Nevada Water Authority’s (SNWA) Water Smart Landscapes Rebate Program will receive $1.50 for each square foot of grass they replace with water-efficient landscaping. The SNWA board of directors approved the new incentive levels as a way to continue achieving the community’s long-range water conservation goals. Due in large part to the increased incentive in 2007, the community converted more than 19.5 million square feet of grass to water-efficient landscaping.

Colliers International – Las Vegas Announces New Division

Colliers International – Las Vegas announced the formation of a new division within the company that will specialize in the sales and leasing of resort condominiums, estates and luxury homes in Southern Nevada. This new division is the first entry for the company in the residential market. The new division will exclusively handle residential properties valued at more than $1 million and will combine both listing agents and buyer agents. Currently, the company employs more than 72 people in broker and staff positions in office, retail, industrial and land sales.

McFadden Insurance Announces New Financial Division

McFadden Insurance recently announced it has formed McFadden Financial Services (MFS), a new division of the company. The division is directed by Vice President Kirk Marley. Formed from the high demand for financial and consulting services, MFS will offer a range of services including business succession, executive benefits, financial services, estate and retirement planning. The team will target high net-worth individuals and business owners in need of these services.

Silver State Bancorp Announces Plans to Merge

Silver State Bancorp announced plans to merge Choice Bank, the company’s Arizona bank subsidiary into Silver State Bank, the company’s Nevada bank subsidiary. This action is subject to approval by the boards of directors of the two bank subsidiaries and the bank regulatory authorities and is anticipated to be completed by the end of the first quarter of 2008. The combined bank will operate as Silver State Bank.