Hot Topics In Irving

Several people have been asking for my positions on some hot topics currently being debated in Irving.  One of the biggest challenges that I face in my campaign is that I am not a politician.  I say what I mean and I mean what I say.  Unfortunately, many of the other politicians during this campaign season say what they think people want to hear, even if they know that what they propose will never happen.  It is my hope that honesty and integrity will win out over typical political rhetoric.  Some people have said that doing things the right way is not possible in a campaign for public office.  I intend to prove them wrong.

(NC-17) MATURE AUDIENCES ONLY - Some of what I have to say includes the cold hard truth.  And some people can't handle the truth (insert Jack Nicholson impression here).  People may not agree with every idea I have, but my ideas can start a dialogue that leads to a well thought out resolution to these important issues effecting the future of Irving.

Here are my responses to important questions recently raised by one concerned citizen:

Entertainment Center - I would support an audit of the expenses already paid to LCG.  However, an audit based on a contingent fee is not sufficiently reliable to determine the true facts.  In my business, if an expert witness (we often use accountants) ever tried to perform expert work based on a contingent fee, they would be laughed out of court.  Why can’t we take multiple bids from reputable accounting firms for a flat fee based audit?

I would not have agreed to the current financing split for the Entertainment Center.  But, as an attorney, I respect the importance and responsibility that comes with entering into a contract.  The city has an obligation to honor the current contract with LCG as long as that contract is valid and binding.  I do not favor any further extensions of deadlines or modifications to the contract by LCG without appropriate counter-negotiations.

I think we can solve a lot of the decisive issues with the creation of an Oversight Board to oversee the entire project.  The Oversight Board could be part of the ICVB and would make recommendations on necessary contract negotiations, perform construction oversight and manage any future potential funding surpluses.

Convention Center – Most people do not understand that the Convention Center is designed to operate at a loss.  In the current year, that gap is budgeted at $1.46 million, which is funded from the ICVB's budget.  As the building's business stabilizes, that number will get reduced each year.  This is the way every convention center in the country operates - it is a "loss leader" meant to generate revenue for the businesses around it.  Its primary purpose is to attract outside visitors that stay in our hotels and eat in our restaurants, and pay taxes on those activities while they are here.  We have lost several large conventions because we did not have sufficient entertainment options to support the convention.  Relying on private investment would not get an Entertainment Center out of the ground quickly enough to benefit from the prime years of the Convention Center.  The $2.1 million loss a year mentioned by others is not coming from the convention center's operations, it is the difference in the debt service payments from what was estimated in 2009 when the bonds were sold versus what the 2% of the dedicated hotel tax needed to make the payment generated.

Cowboys Suite – I have reviewed the Suite contract and can provide the following information.   Under the terms of the agreement, if a payment is missed, the entire balance becomes due.  That would be $2.5 million due immediately.  The Dallas Cowboys have gone to court to force 10 other luxury suite holders to honor their leases.  The contract also requires the suite holder to pay attorney’s fees if litigation is required to enforce the agreement.  In my mind, breaking the lease is a bad idea and would cost the city more money with litigation costs.  With regards to a potential transfer of the suite to another buyer, all assignments require prior written permission of the Stadium.  I would advocate for exploring a request for written permission from the Stadium for a potential transfer.  Given the current inventory of suites that remain empty (see lawsuit above), I would not hold my breath waiting for the approval.  But, we can try.


The election is May 12, 2012.  For more information about me or my campaign, please check out our website at http://www.billmahoneycampaign.com/.

Pol. Adv. paid for by Bill Mahoney Campaign

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