| Name |
Las Vegas Monorail |
| Location |
Las Vegas, Nevada |
| Mode |
Rail transit |
| Description |
The Las Vegas Monorail
Company, a non-profit
public benefit
corporation (501
C4 corporation)
has 50-year county
franchise to
upgrade &
extend existing
Bombardier Mark
IV monorail.
Monorail will serve the heart
of the resort corridor,
east of Las Vegas Boulevard,
linking the MGM Grand hotel-casino
with the Sahara hotel-casino.
6.4 km (four miles) of elevated
dual-monorail guideway
will connect seven stations
and integrate two existing
stations.
Re-equipping the 1.6-km (one-mile)
guideway of the MGM-Grand
Bally's former monorail
line.
36-car monorail fleet will
be operated in nine 4-cars
trains.
Direct service to eight major
resort properties and the
Las Vegas convention center.
Expected to carry 19 million
passengers the first year.
|
| Sponsor |
The Las
Vegas Monorail Company
State of Nevada Dept.of
Business and Industry
Clark County (franchise and
ROW)
Nevada DOT (ROW) |
| Cost |
$650 million |
| Type
of Finance |
Tax exempt revenue
bonds, issued by Salomon Smith
Barney and Nevada Dept. of Business
and Industry |
| Revenue
Sources |
Future ridership
(fares) and Advertising Revenues |
| Project
Delivery / Contract Method |
DBOM |
| Private
Investor Partner |
MGM-Bally's Monorail
LLC
MGM Mirage
Park Place Entertainment (Hilton
Gaming, Caesars World and Grand
Casinos) |
| Project
Advisors |
Booz Allen / G.C.
Wallace
Public Resources Advisory Group
Orrick Harrington
Broadbent & Walker
Nossaman, Guthner,
Knox & Elliott,
LLP
Public Financial Management
Consultants
URS Greiner
Carter & Burgess
Stradling Yocca Carlson Rauth
Wilbur Smith |
| Lenders |
Bondholders |
| Physical
Status |
Expected completion: 2004 |
| Financial
Status |
Changes to the financing are
not anticipated, but may occur
under different circumstances. |
| Innovations |
First urban grade fixed guideway
system to be privately
financed in the U.S.
MGM Grand-Bally's Monorail
Limited Liability Company
is the first joint venture
between competing hotels/casinos
Enabling law S.B. 333 passed
8/97
|
| Related
Links / Articles |
Moody's
Credit Rating*
FITCH
Rating Report for First-Tier
Series 2000 Revenue Current
Interest Bonds and Capital
Appreciation Bonds**
Bombardier
project description
Coverage
in MetroMagazine
Channel
2000 project coverage
Las
Vegas Sun coverage
Las
Vegas Monorail homepage
|
| Contacts |
Todd Walker
Las Vegas Monorail Company
3800 Howard Hughes Parkway
Suite 920
Las Vegas, NV 89109
Tel. (702) 731-4055
todd@lvnvmonorail.com
|
| Last Review/Update |
Las Vegas Monorail
Company, May 2002 |
|
THE AMERICAN ASSOCIATION OF STATE HIGHWAY AND TRANSPORTATION OFFICIALS,
AMERICAN ASSOCIATION OF STATE HIGHWAY AND TRANSPORTATION OFFICIALS,
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or PBConsult have any liability to any person or entity for (a)
any loss or damage in while or in part caused by, resulting from,
or relating to, any error or other circumstance or contingency within
or outside the control of Fitch or any of its directors, officers,
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|
