NBA team ‘under contract’ if Las Vegas builds and pays for a new arena

[Bozita]

http://www.lasvegassun.com/news/2010/jul/14/nba-team-under-contract-if-las-vegas-builds-arena/

NBA team ‘under contract’ if Las Vegas builds an arena
By Joe Schoenmann (contact)
Wednesday, July 14, 2010 | 2 a.m.

An investment group seeking to build an arena on the Las Vegas Strip claims it is on the cusp of purchasing an NBA team to play in the facility.

For the deal to go through, said Chris Milam, CEO of International Development Management LLC, the group must strike a deal with the county to fund construction of the arena — dubbed the Silver State Arena — slated for the old Wet ’n Wild water park site.

“We have an NBA team under contract,” Milam said, declining to name the franchise. But the deal will take effect only if “other pieces of the puzzle fall into place: One of those pieces will be that a building (arena) is approved,” he said.

The key to Milam’s plan is persuading Clark County to revive its redevelopment area and fund the arena using what is known as tax-increment financing.

more...

[Initech]

1. So they're planning to get an NBA team the same way we're getting an NFL team. Got it.

[Hawkeye-X]

2. I remembe the Wet 'n Wild water park

I was like, 12 when I went....


I always called it Wet 'n' Wild 'n' Ready.

[Ishoutandscream2]

3. My money is on the Sacramento Kings.

[Bozita]

4. Good to see rich folks wanting socialism for their business venture

Shut those schools. Fire those cops. Time for the taxpayers to pony up for a new arena.


http://www.employmentspectator.com/2010/05/las-vegas-city-cuts-worse-than-anticipated/

Las Vegas City Cuts Worse than Anticipated
Thu, May 6, 2010

Las Vegas Mayor Oscar Goodman announced during a press conference this Thursday that the city will experience many more layoffs than initially anticipated.

“I understand that (the layoffs) are substantial,” said Goodman. “At least twice (the number) we were talking about.”

The Las Vegas fiscal budget is $120 million short for the next two years, and the city had previously announced 146 expected layoffs. With the new announcement, that number can be expected to approach 300.

At this point no deals with city unions have been reached, although several deals are on the table. Such agreements will need to be approved by the city council before being able to go into effect.



And things aren't any better in the schools ...

http://www.examiner.com/x-42119-Las-Vegas-K12-Examiner~y2010m4d8-Layoffs-loom-in-the-future-for-Clark-County-School-District-employees

Layoffs loom in the future for Clark County School District employees
April 8, 12:48 PMLas Vegas K-12 ExaminerStephanie Matyszczyk


Up to 1,000 CCSD employees may face layoffs as the School Board tries to balance the budget.

Clark County school trustees are poised to lay off more than 1,000 employees, 540 of whom are teachers, by July 1 unless the Clark County School District can find another way to close a big budget shortfall.

Board approved a tentative spending plan late yesterday afternoon that aims to close most of a $140 million budget gap left by reduced state funding and declining property tax revenues. The final balanced budget does not need to be submitted by the Board t o the state until June 8.

While district administrators say classroom and administrative positions are on the block, the specifics haven't been made public. Officials say they hope the district's four employee unions will come to an agreement on concessions including salary reductions and furlough days to reduce the number of layoffs.

The CCSD School Board will meet again today to revisit the option of converting more year round schools to a nine month calendar, an option which could save up to $18 million for the district.

[Bozita]

5. Close those schools. Fire those cops. Build that arena.

Bread and circuses on steroids.