Tag Archives: stimulus package

Welcome to Sin City, Mr. President!

With an unprecedented 30-mile radius air traffic prohibition in place (usually it’s half that) during his trip to Las Vegas, costing commercial air tour travel operators thousands of dollars of lost revenue, President Barack Obama remains undaunted, planning to land his Air Force One gas guzzling hog later tonight, marking his second presidential visit to Sin City– you know, the little hideaway berg that encourages corporations to blow their government bailout funds or simply have students waste their college savings on gambling forays. 

Despite having such a notorious moniker, Las Vegas tourism officials have weathered the multiple gaffes and predict a million more visitors in 2010.  Thank you, Mr. President. 

He’ll probably need to bring a strong suit of armor and sharp swords when he speaks Friday for select invitees at the Las Vegas Convention and Visitors Authority, where his prior barbs were specifically aimed.

His olive branch offering, if you will, will be his quest to seek congressional approval of the Travel Promotions Act- an overseas $4 billion promotion program that could bring more moneyed foreign tourists to Las Vegas.   Morevover, the bill promises it could bring 40,000 new American jobs and $320 million in new federal tax revenue, according to the U.S. Travel Association. 

If that doesn’t stick when the Prez throws it against the wall, his backup plan (or an add-on, depending on crowd rancor) could be to announce the Department of Transportation’s $30 million project for a new Sahara Avenue – one of the most traveled byways in Las Vegas – bus project as part of the multibillion stimulus package. 

But outspoken ex-mob lawyer turned Las Vegas Mayor Oscar Goodman will not being rolling the red carpet out.   Goodman remains upset at President Obama. Goodman said he needs to be true to his conscience and, therefore, won’t accept invitations to greet the president of attend any town hall meeting unless he personally gets “some kind of retraction.”  

If you like to be part of this surely politically entertaining event, you can line up for tickets now at Green Valley High School in Henderson for Friday’s 10 a.m. town hall meeting. 

Mr. President, please be sure to enjoy yourself when you’re in the home of sin.  It’s a devilishly fun town.

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Las Vegas’ New City Hall Project Continues to Chug Along

Project plans for a new Las Vegas City Hall appear to be moving forward, despite higher than expected interest rates.  To provide a mechanism for more effective interest rates, Las Vegas is seriously looking now at using “Build America” bonds to finance their new city hall. 

By using these bonds to finance the project it will cost Las Vegas as much as $267 million, but save the city  $82 million over 30 years, based on current estimates of competitive funding methods. 

Las Vegas has already awarded a $107,800 engineering contract to design a 650-space parking garage adjacent to the proposed six-story, 303,000-sq-ft building City Hall complex at First Street and Clark Avenue.  

The complex, if and when it is finished, is planned to have a 250,000-sq-ft of office space, a 500-seat city council chamber and a public exhibition space, as well as an outdoor plaza with solar panel trees that serve as shade structures. 

Las Vegas Mayor Oscar Goodman said recently that prospects for the project were bleak because the interest rates on one possible funding mechanism were as much as 8 percent too high. 

But Goodman says the Build America bonds are improving the viability of the project. 

The Build America bond program is part of President Barack Obama’s stimulus package which lets state and local governments issue taxable bonds for capital projects and get a direct federal subsidy payment from the Treasury Department for a portion of their borrowing costs. 

The Las Vegas City Council will be meeting today to further discuss the issue, but the final vote on whether to continue to move forward on the city hall plan won’t occur until November or December.

If approved, the Las Vegas City Hall project is expected to finish by mid-2011– and create 13,000 new jobs.

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