EDITORIAL: Getting out ‘too far’

Now comes word that Faraday Future has “temporarily adjusted” the company’s construction schedule for its $1 billion electric car plant in North Las Vegas. It’s hard not to conclude that the delay signals a money problem.

The general contractor overseeing the work announced Monday that grading and foundation prep had been completed, but that Faraday would not be proceeding further until early next year.

State lawmakers last December approved $320 million in tax subsidies to lure Faraday to the Apex site. But state Treasurer Dan Schwartz, a critic of the deal, again raised questions last week about the company’s long-term viability, citing news that Faraday had fallen $57 million behind in payments to an escrow account set up to compensate contractors.

State officials insist that the incentive package protects state taxpayers because the company must meet certain benchmarks and investment requirements before it can collect the tax breaks. But what about $70 million in highway work set to begin in June to improve access to the industrial park where the plant is to be built?

Gov. Brian Sandoval — who admitted to being “concerned’ about the company’s financial delinquencies — proposed this week that the state delay the road construction until questions about the Faraday project are resolved.

“I just don’t want the state to get out too far and be consistent with what’s going on out there,” he said.

The governor’s suggestion makes eminent sense. Southern Nevada has a host of transportation needs competing for a limited pot of cash. Why fast track road construction designed to accommodate Faraday when the company’s ability to deliver has become more and more uncertain?