LETTERS: Editorial errs on downtown garage

To the editor:

There are several inaccuracies that need correction in the editorial on the downtown garage (“City poised to borrow beyond garage costs,” May 13 Review-Journal). The editorial states that the amount of sales tax revenue generated for the city will be unknown because “the businesses that will comprise it don’t exist.” While this may be true for a portion of the Tourism Improvement District that has yet to be developed, the portion of the TID associated with the Las Vegas North Premium Outlets mall expansion is completed and opened on May 14.

A study prepared by Oxford Economics and Civitas estimates that approximately 70 percent of the sales tax revenue in the TID will come from the outlet expansion. Additional reports show sales at the mall are more than double the amount estimated in the study.

At its meeting today, the Las Vegas City Council will consider a resolution regarding reimbursement of bond proceeds for federal tax purposes in an amount not to exceed $45 million. This resolution in no way binds the city to issue bonds in that amount. The bond issuance process is lengthy, and there will be several opportunities for the council to consider the amount of bonds that will be issued and repaid from TID revenues. In fact, prior to issuance of the bonds, the city will hire a bond feasibility consultant to prepare an additional study required by state law to estimate the revenues available for repayment. The $45 million amount is simply a “not to exceed amount” based on the city’s list of infrastructure projects to be financed in Symphony Park.

Another point of clarification is regarding the statement that the city might become “so overleveraged that it will have to use general fund revenues to repay the STAR bonds.” The STAR bonds will in no way be secured by the city’s general fund. In fact, NRS 271A prohibits the city from securing STAR bonds with property taxes or any other city revenues. The STAR bonds will only be paid from and secured by sales tax revenues collected in the TID. In addition, the city has lower general obligation debt per capita than Reno, Henderson, North Las Vegas, Clark County and the Clark County School District. The city’s bond ratings from the nationally recognized agencies of Moody’s and Standard &Poor’s are just below the highest investment grade rating, and neither firm views the city as being overleveraged.

ELIZABETH N. FRETWELL

LAS VEGAS

The writer is Las Vegas city manager.

Mayweather-Pacquiao

To the editor:

An editorial claimed Manny Pacquiao deceived the Nevada Athletic Commission and deserves punishment for not disclosing his shoulder injury before his fight against Floyd Mayweather Jr. (“Pacquiao’s injury deceit deserves punishment,” May 6 Review-Journal). I disagree.

Two of the three judges scoring the bout said Mr. Pacquiao won four rounds, and Mr. Pacquiao was clearly the ring aggressor for the entire fight. He didn’t use his right hand, a formidable weapon, as much as he should and usually does. His corner man, Freddie Roach, never told him to do so when the cameras panned over Mr. Pacquiao’s corner between rounds.

Maybe Mr. Roach should have thrown in the white towel. But he didn’t. He believed Mr. Pacquiao was ahead. Mr. Pacquiao fought hurt for 12 rounds. That says a lot about his loyalty to his fight handlers and fans. The commission chairman, Francisco Aguilar, had two opportunities to nix the fight: Once when the pre-fight form was submitted, showing the medications Mr. Pacquiao was taking prior to the May 1 weigh-in; and second when Mr. Pacquiao asked for a pain shot several hours before the May 2 fight. The commission chose not to stop the fight.

Mr. Pacquiao is a champion. Mr. Mayweather is, too. Have a rematch and, if necessary, a rubber match to prove who is the best. If Las Vegas won’t host it, the fighters can and should find another venue. I’m sure, as the true champions they are, they will.

CARMINE A. DIFAZIO

NORTH LAS VEGAS

Move ‘Mallard Fillmore’

To the editor:

At the bottom of the front page of the May 6 Review-Journal, it notes that the comics are on Page 4D. At the top right on Page 4D is something that is definitely not a comic. I don’t want “Mallard Fillmore” banished, but it should be moved to the Opinion pages, where it belongs.

RAY BYROM

LAS VEGAS

Hutchison’s job

To the editor:

Mark Hutchison, the lieutenant governor of Nevada, announced he would be the Nevada campaign director for a presidential candidate (“Lt. Gov. Mark Hutchison to direct Marco Rubio campaign in Nevada,” May 7 Review-Journal). Mr. Hutchison was elected to be the state’s lieutenant governor, not to manage a campaign. He’s a full-time lieutenant governor for all the people of the state.

I suggest Mr. Hutchison decide which job he wants and resign from the other.

GIL EISNER

LAS VEGAS