City should seek maximum return for V&T investment

The mayor turned some heads this week when he had the audacity to suggest that Carson City give even more to the V&T Railway project in return for 5 percent of the take of gross profits for the foreseeable future.

Are we outraged?

No ... in fact our only reservation is over whether he's asking for enough. This would give Carson City a direct financial benefit from the train. Currently, the benefits we're expecting to see are largely indirect, in the form of visitors who spend money at businesses within the city. But it's likely that most of those visitors will be spending their money in Reno and Virginia City.

We believe Carson City, the chief benefactor for the V & T project, should take as much control as possible because that's the way to ensure residents will get a return on the money they've given. In fact, if there were a way to make it happen, we would suggest the city's influence on The Nevada Commission for the Reconstruction of the V&T Railway be increased proportional to the amount of money it has given for the project, and the influence of other members be reduced according to the same formula. As it is, we have an equal say with other members, some of whom have contributed nothing.

While that's not likely to happen, the time is now for the city to ensure its investment is a good one.

We believe the V&T will be successful, but first it has to be completed. The additional $10 million from the city wouldn't be enough to finish the project - just get it into Brunswick Canyon. But while that part of the project is being done, perhaps others might see fit to contribute.

We understand that cooperation is the best way to achieve success in any endeavor, but we also believe in looking out for one's investment.

• This editorial represents the view of the Nevada Appeal Editorial Board.