1st Hurdle Cleared for Legends
Last night, the Nevada Commission on Tourism approved the Legends development in Sparks. It still awaits approval by the Govenour and the Sparks City Council. The project will be subsidized by STAR bonds. I do expect to see more resistance as this moves forward. You will always have the "anti-progress" crowd who perpetually longs for "the way things used to be" and the "screw big business" crowd who will complain about the usage of STAR bonds.
As an unabashed capitalist, I am all for this development. And it's not just cause I live near there (but I am already counting the dollar signs in real estate appreciation), but this could really launch Sparks as a tourist town. That will only mean more tax dollars for the city of Sparks. And that only mean more improvements to the great city of Sparks. But of course, we will lose a huge patch of dead weeds and unused space, which I'm sure will anger some.
posted by Todd Zuccato @ 7:33 AM
2 comments
2 Comments:
I don't think it is necessarily the "screw big business" types that would oppose the STAR bonds. That crowd is almost always in favor of hand-outs.
However, capitalists and small-government fans shouldn't be applauding this use. If Legends is indeed a viable concern, then why the need for a subsidy that other businesses don't enjoy? If it can't exist without STAR, then perhaps it shouldn't.
In many cases I would agree with you, but this project is a massive undertaking, and the cost would be quite cumbersome. Unlike the train trench, an these STAR bonds will be an investment into our future.
This project will bring millions annually in revenue to local businesses and therefore tax revenue. Any project like this should, in my opinion, be measured in exactly that fashion. I think of it as the WIIFM, or what's in it for me, test. As a capitalist, I see the advantages of this project including new business, tax revenues, jobs, and turism.
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