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Forthcoming North Las Vegas cinema licensed for liquor

Liquor will be sold at a new movie theater set to open across the street from North Las Vegas City Hall.

The City Council, in its capacity as the North Las Vegas Redevelopment Agency, on Wednesday night awarded a special-use permit allowing a liquor license for Maya Cinemas, a 65,000-square-foot movie theater scheduled to open by Thanksgiving weekend in 2018.

Construction is expected to start this month on the two-story movie theater at Las Vegas Boulevard and Hamilton Street, surrounded by 11 retail spaces and four restaurants. The project will cost at least $30 million, according to estimates.

Maya Cinemas North America, led by movie director Moctesuma Esparza, bought the land in February for $7.1 million.

Separately, the City Council on Wednesday authorized the sale of $19 million in tax-exempt municipal bonds to start construction of the water and sewer infrastructure project at the 1,110-acre Northern Beltway Commercial Area near Interstate 15 and the 215 Beltway.

Those bonds will be repaid through more than $18.89 million collected through property assessments collected from the owners of roughly 130 parcels.

The rest of the $43.16 million project will be funded by the North Las Vegas utility fund, the Nevada Department of Transportation and the Regional Transportation Commission of Southern Nevada.

Additionally, the City Council unanimously agreed to refinance part of $140 million in bonds issued in 2006 for a wastewater reclamation system that opened six years later. At the time, the bonds were issued for a 30-year term with interest ranging from 4 to 5 percent.

To date, the city still owes $116.29 million on the bonds. The council on Wednesday approved a deal that allows the Nevada Division of Environmental Protection to provide a refinancing loan for nearly $50 million, with a 2.2 percent interest rate.

The reduced interest rate will lead to $15.6 million in interest savings through 2037, according to a city report issued by City Manager Qiong Liu.

Contact Art Marroquin at amarroquin@reviewjournal.com or 702-383-0336. Find @AMarroquin_LV on Twitter.

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