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A study conducted by Applied Analysis determined that:
Construction of the proposed Henderson Event Center would:
- Generate a one-time economic output of $142.1 million
- Generate the equivalent of 1,017 full-time jobs during construction
- Support wages and salaries of approximately $54.7 million during construction
Ongoing operations would:
- Generate annual economic impact between $17.2 and $26 million
- Generate annual wages and salaries of venue personnel between $6.3 and $9.4 million
- Supports between 89 and 122 jobs annually
Financial Analysis by Jim McIntosh, CFO, City of Henderson determined the proposed Henderson Event Center would:
- Generate $40.9 million in savings and tax revenue for the City of Henderson over 20 years
- Generate a one-year Return on Investment of approximately 106.57 percent
City Council Meeting Presentations
Presentation on Bonds from Jim McIntosh, CFO, City of Henderson
At a virtual public meeting on April 21, 2020, the Henderson City Council approved the authority to issue general obligation bonds to finance civic construction projects. Future projects could include a new police station and training facility, addition of new parks and recreation facilities in growing west Henderson, rehabilitation of existing facilities in more established areas of Henderson and renovation and upgrades to the Henderson Pavilion. Projects funded from the bond proceeds will still need to be approved at future City Council meetings.
The bond issuance is tax neutral – taxes do not need to be raised due to the maturation of previous debt obligations. While it has up to 18 months to issue the bonds, the City can take advantage of today’s historically low interest rates and save taxpayer money. The bond issuance includes the refinance of older debt which will save the City and the Department of Utility Services more than $9M in interest over the life of the bonds.
Civic construction projects will not only address the community’s infrastructure needs but will also kick start our community’s long-term economic recovery from the COVID-19 public health emergency. Now is the right time to be investing in the future of our community.
Virtual Town Hall (Recording), May 6th, 2020
Q&A and Comment records from Virtual Town Hall, May 6th, 2020, are available below:
Financial Q&A, May 6th, 2020 (.pdf format, 153KB)
Site Q&A, May 6th, 2020 (.pdf format, 166KB)
Traffic Q&A, May 6th, 2020 (.pdf format, 150KB)
Parking Q&A, May 6th, 2020 (.pdf format, 137KB)
Other Q&A, May 6th, 2020 (.pdf format, 145KB)
Comments, May 6th, 2020 (.pdf format, 139KB)