Financing

Both city officials and Steve Neighbors of the Carson Nugget agree some of the details on how financing for the City Center Project will work are unclear at this point.But Neighbors told the adviso...

Despite some questions about the financing, the Carson City Center Project Citizens' Committee voted Monday night to recommend its approval to the Board of Supervisors.City Manager Larry Werner sai...

Taking a look at the new plans for the Carson City Center/Nugget Project, there are several new things that stick out.

First, the announcement that partnership with P3 Development has been terminated because they could not come to an agreement. It was revealed earlier this summer that the the project partners switched architects because they weren't happy with what they were getting from P3. But now it seems P3 is out of the picture entirely. Not only was P3 slated to build the project, but it was supposed to handle the financing.

CARSON CITY – Nevada state Democrats today called on Republican presidential candidates to disclose the names of their campaigns’ major fundraisers – known as bundlers – in the name of transparency.
President Barack Obama on July 15 released his list of major fundraisers, which he also did in 2008. The disclosure is not required by the Federal Elections Commission.

The state Board for Financing Water Projects voted Wednesday to loan the Incline Village General Improvement District $3 million for its water treatment project.IVGID Public Works Manager Joe Pomro...

CARSON CITY – Nevada’s skilled nursing homes avoided the deepest cuts initially proposed by the Sandoval administration to pay for serving Medicaid clients, but the reimbursement rate is still inadequate to cover actual costs, an industry official said today.
The industry is also concerned that any resolution to the federal deficit discussions under way in Washington, DC, could further exacerbate the economic challenges facing it, said Daniel Mathis, chief executive officer of the Nevada Health Care Association.

Nevada is the fastest growing state in export value as a share of its total economy, according to a new report by the U.S. Chamber of Commerce.
The value of the state’s manufactured exports has more than tripled since 2002. Its primary exports are mineral deposits, coin-operated games and electronics.
Other states rated highly for exporting are Louisiana, Utah, South Carolina, Mississippi, Delaware, and Texas.
High performing states were evaluated based upon:

CARSON CITY – Nevada may finally see greater transparency and accountability in election campaigns due to three landmark bills that arrived on Gov. Sandoval’s desk this week.
Secretary of State Ross Miller unsuccessfully championed the reforms in the two previous legislative sessions. Miller said in testimony before the Legislature in recent months that lawmakers could no longer ignore glaring gaps in the law that were revealed by questionable practices in recent election cycles.

Nevada’s budget woes could grow worse as Medicaid costs continue to rise during the next decade.
That assertion comes from the Nevada Policy Research Institute, a free-market think tank that released a report today saying that rising Medicaid costs could eat into portions of the state’s budget currently apportioned for education.

By Sean Whaley/Nevada News Bureau
CARSON CITY – A bill to create a website where Nevadans could learn how to protect themselves from consumer fraud was received favorably today by an Assembly committee.

CARSON CITY – A bill to create a website where Nevadans could learn how to protect themselves from consumer fraud was received favorably today by an Assembly committee.

By Sean Whaley / Nevada News Bureau
CARSON CITY – A simplified campaign finance reform bill that would require most candidates to file their contribution and expense reports electronically was given a generally favorable reception today during an Assembly Committee hearing.

CARSON CITY – A legal analysis provided to the skilled nursing home industry regarding a proposed Medicaid rate reduction to cover the cost of caring for Nevada’s seniors says the cuts would be a violation of federal law.
The analysis says the proposed reductions of $20 per Medicaid resident per day are being proposed in Gov. Brian Sandoval’s budget, “purely as a means to alleviate the budgetary crisis.”

By Sean Whaley / Nevada News Bureau
CARSON CITY – An analysis of a cut in Medicaid payments to skilled nursing facilities proposed by Gov. Brian Sandoval paints a sobering picture for the industry and its future in Nevada.

After a marathon meeting today, the Carson City Board of Supervisors voted 4-1 to allow staff to begin negotiations on agreements to develop the City Center/Nugget Project.

But the project may face hurdles getting final approval, as two of those voting yes expressed concerns about the project.

Carson City leaders will learn next week whether the proposed Carson City Center, also known as the Nugget Project, is financially viable and may vote on whether to move forward with development agreements.

Thursday's meeting of the Board of Supervisors is a culmination of many months of studies, public meetings, workshops and a citizen's advisory committee. Supervisors will hear the results and recommendations of the project at 2 p.m. on Thursday, Feb. 17 in the Sierra Room of the Carson City Community Center, 851 East William Street.

CARSON CITY – Nevadans could pay up to $625,684 to consultants who are helping the state implement the controversial federal health care reform law under a state contract.
The contract with Massachusetts-based Public Consulting Group allows up to that level of spending through June 30, 2012.

CARSON CITY – The logic of Gov. Brian Sandoval goes something like this: If you’re going to make me do it, let me do it my way.

By Andrew Doughman / Nevada News Bureau
One year later, the impacts of the U.S. Supreme Court’s decision in the Citizens United case are plain to see.
On Jan. 21, 2010, the court ruled that corporate and union donations to political candidates cannot be limited under the First Amendment.
The impact?

This story from RGJ.com discusses how the City of Reno is having problems paying off bonds for their railroad trench, due to a decline in sales taxes. Something to think about when considering financing projects based on volatile income streams like sales taxes.

On Saturday, Jan. 22 only, the Dayton Food Pantry will operate from Sutro Elementary School at 190 Dayton Village Parkway from noon until 4 p.m.

Sutro Elementary School offered an indoor venue for the pantry on January 22 so that people can come in out of the cold January weather.

Geothermal Development Associates of Reno received the U.S. Department of Commerce’s Export Achievement Certificate today.

The award recognizes businesses that have achieved significant success in the global marketplace and have also benefited from the programs and assistance of the International Trade Administration’s U.S. Commercial Service. Chuck Alvey, president/CEO for the Economic Development Authority of Western Nevada made the presentation.

By Sean Whaley / Nevada News Bureau
CARSON CITY – The panel that oversees Nevada’s public employee retirement system was told today it would cost about $1.2 billion over the next two years to change from the current defined benefit plan to a defined contribution plan for new state and local government workers.

By Sean Whaley / Nevada News Bureau
CARSON CITY – Despite the need for drastic spending reductions to balance Nevada’s budget, the government program that provides health care to the poor continues to expand, consuming a growing share of the state’s scarce state revenues.

I have been been going over the Nugget Project feasibility report this morning, tying to digest the details.

Overall, it really isn't much different than what was presented to the citizens committee back in September. The one exception is that P3 Development seems to think that building a hotel is more feasible now, following another study showing that it is.

With an unemployment rate of nearly 20 percent in Lyon County, the Dayton Food Pantry has seen a big jump in requests for Thanksgiving food baskets and is asking the community for help.

Food Pantry Director Freida Carbery reports that while many individuals and groups have donated turkeys and trimmings, there are already 100 families in need on the Pantry list, and only 40 turkeys in the freezer. The Pantry's list of those in need doesn’t even include the numbers of families she expects to receive from the local schools this week.

A breakfast Thursday morning hosted by the Northern Nevada Development Authority will feature a panel of experts who will discuss the business of energy, industry and innovation.
The meeting will be held at the Carson Nugget. Doors open at 7 a.m. with breakfast at 7:30 a.m. The cost is $20 for NNDA investors with reservations and $35 for guests or at the door. Questions, contact NNDA at (775) 883-4413.

With the focus on business development, the discussion will focus on ways to make the region innovative and profitable.

The panel includes:

Monday's Advisory Committee Meeting included a lot of new details about the Nugget Project that we are still looking through.

For those who haven't seen the presentation by P3 Development, you can read it here.

I think they made the best pitch for this project so far, and showed that this somewhat scaled-down version is at least close to being feasible, given the revenue constraints requested by members of the Board of Supervisors.

The chief justice of Texas’ Supreme Court said at a forum last week that he supported a ballot measure before Nevada voters to change the way judges are chosen. A legal scholar from Vanderbilt University argued against the measure at the same forum, held at the Boyd School of Law on the campus of UNLV.
Both brought unique perspectives. Texas is a state that elects its judges who collect campaign donations from those who may appear before them creating bright-line conflicts-of-interest.

The developer of the Carson City Center/Nugget Project tonight presented an update on the progress made so far on a final plan to present to the city for approval.

The meeting of the Nugget Project Advisory Committee was supposed to see the final plans tonight, but those plans have been delayed by legal and financial issues, according to City Manager Larry Werner.

What they did get was an overview of where the project stands right now, along with a look at some numbers that could determine its feasibility.