In an economic study prepared for the Southern Nevada Regional Planning Coalition, the Theodore Roosevelt Institute has called for a regional approach on releases that would allow local governments to deed restricted land for specifically zoned uses.

Henderson is pursuing that model for a business park adjacent to the Henderson Executive Airport. The city's efforts, however, have been stymied because legislation has stalled in Congress in recent years, but it only targets specific parcels.

The think tank's proposal calls for land releases designated for economic development and business clusters. Under current BLM procedures, land is sold to the highest bidder, and those pursuing housing projects have been willing to pay the highest price.

That practice in part has led to a shortage of industrially zoned property in the Las Vegas Valley.

To counter that, the think tank has called for changes in BLM practices and instead of it selling land for fair market value, allowing appraisals that recognize land prices by zoning.

To protect against speculation, the group has called for time limits on sales if no development takes place. Money from the sale would be refunded.

Alan Schlottmann, a UNLV economics professor and think tank member, said implementing the recommendations is important to help Southern Nevada diversify its economy.

Diversification has become a goal to reduce the region's reliance on gaming and its vulnerability to a slowdown in travel.

The suggestions will be considered Wednesday by officials from Henderson, Las Vegas, North Las Vegas and Clark County.

Some of the recommendations may require changes in the Southern Nevada Public Lands Management Act and others could be made at the BLM administration level.

Last year, Juan Palma, who headed Las Vegas' BLM office, said the agency was considering abandoning its practice of refusing to sell land for less than appraised value because of the lackluster demand for land.

The Southern Nevada Public Lands Management Act, approved by Congress in 1998, requires federal land be sold for fair market value, and subsequent regulations defined fair market value as the appraised value.

Among other suggestions to help with diversification, the think tank has called for setting aside a large amount of land for regional freight and logistic centers because of the lack of warehousing in the valley.

Land could even be set aside for an inland port where containers shipped in from California could by processed. Businesses that rely heavily on container shipping would be interested in locating to the region, the report said.

Among suggested changes in the act to attract businesses to the region are allowing expanded uses and more inclusive definitions of workforce housing.

One way to build more workforce housing is for the state to use tax increment financing, especially for infill and redevelopment sites.

The group has called on the region to target industries to lure to Southern Nevada. They include hospital and health care related companies from service providers to manufacturers. Las Vegas could be home to more regional headquarters.

There are also opportunities in research and development; education and training; life sciences; and information and communications technology.

The growing population in Southern Nevada is an impetus for companies to locate food and beverage operations in Las Vegas rather than ship in the goods.

Las Vegas is also centrally located to businesses that want to serve Southern California, Nevada, Arizona and Utah.

Housing market update

There are more signs the Las Vegas housing market is improving, even if it is for the short term.

The number of resale homes on the Multiple Listing Service declined for the ninth consecutive week, according to Applied Analysis. Inventory has dropped 16 percent in the past year. On May 26, 22,486 existing homes were on the market with 39 percent occupied by owners and 61 percent vacant or rented.

Homes listed as contingent and pending continued to escalate, Applied Analysis reported. That means more sales are likely to be consummated in the coming months than in the first five months of the year.

The 6,800 contingent and pending sales are at the highest level in the past year, the firm reports. Of all listings 5,505, or nearly 25 percent, have been identified as short sales, which could be canceled if lenders are unwilling to accept less than what is owed on the property.

In the past three months, short sales are 6.5 percent of closings and 45 percent of contingent deals.

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