LAS VEGAS (KLAS) – The dazzle of Formula One is fizzing after a sparkling return to Las Vegas last week, but who will pay for the repave that consumed Las Vegans’ daily commutes over the summer remains undetermined months after the work was completed.
In June – weeks after the Las Vegas Strip and surrounding roads began to be dug up the racing giant asked Clark County Commissioners to pay half of its $80 million project.
Las Vegas Grand Prix (LVGP) personnel, including CEO Renee Wilm, argued that $40 million of county dollars would compensate for the additional work done on top of the repave, such as burying overhead utilities.
Those negotiations have yet to resume as of Monday, Clark County confirmed to 8 News Now in a statement, indicating they may not resume until after the new year.
“It’s important to understand what the economic impact was associated with the race and those numbers won’t be available until January,” the statement read in part.
While county commissioners raised skepticism about the racing giant’s ask coming so late, a public-private partnership between the two agencies was narrowly approved that allowed them to negotiate how much money Clark County may contribute. Wilm and commissioners have told 8 News Now that those talks paused just weeks ahead of the race.
“It was more important to us to bring this epic event to town, to bring the $1.2 billion of economic impact to the valley, and to focus on the permitting, the regulation, and, more importantly, our relationship with our neighbors,” Wilm said during an early November interview.
Commissioners 8 News Now contacted Monday declined to comment on the matter. Per previous interviews, several indicate that the full $40 million ask will not be fulfilled completely.
“I think it’s fair to say no one should have an expectation that half of 80 million dollars is something that the Clark County Board of Commissioners is going to approve or thinks it can afford to approve,” Commissioner Jim Gibson said after the June 6 meeting.
“Obviously, it’s a huge impact. Maybe we can throw some money out there, but it’s not going to be anywhere close to 40 million,” Segerblom said in September. “If (county staff) come back and say, ‘we negotiated $40 million,’ that would be concerning.”
Original News Source Link – KLAS
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