Las Vegas monorail expansion in doubt after Gov. Sisolak declines to back bond sale

Ridership on the monorail has been below expectations. Monorail Company President and CEO Curtis Myles has said that the system currently operates on an 11 percent to 14 percent margin. Reisman said that increasing the reach of the monorail would build ridership and provide additional benefits to the area.

“The mobility and air quality benefits the expansion provides the southern Nevada community and tourism industry simply cannot be done faster or with such minimal public involvement by any other means that currently exist, Reisman said. “These types of benefits typically require communities to commit hundreds of millions of dollars in tax subsidies to construct facilities with similar benefits, as well as tens of millions annually in taxpayer subsidies to pay for ongoing operations and maintenance costs.”

The Monorail Company filed for Chapter 11 bankruptcy protection in 2010. While it exited that in 2012, experts have expressed concern that, should the company experience continued financial hardships, the state may become responsible for the physical upkeep of the existing system.

The decision by the governor not to back the bond initiative the Monorail Company was seeking effectively puts an end to this financing avenue.

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By Noell Evans | The Center Square