Las Vegas Sun

April 18, 2019

Currently: 72° — Complete forecast

Las Vegas secures $5.5 million for Mob Museum construction

Funding coming from state in historic tax equity credits

Mob Museum

Las Vegas Mayor Oscar Goodman, left, and former Sen. Richard Bryan (D-Nev.) prepare to open the doors to the Mob Museum during a news conference at the museum site in downtown Las Vegas this morning. Launch slideshow »

Mob Museum Media Tour

A third-story room is shown during a media tour of the Las Vegas Museum of Organized Crime and Law Enforcement (the Launch slideshow »

About $10.6 million in historic tax credit equity — including $5.5 for construction costs — is expected to be brought in over the next five years to help pay for the $42 million Mob Museum in downtown Las Vegas.

That funding is being secured thanks to action taken today by the Las Vegas City Council along with efforts by the 300 Stewart Avenue Corp., the nonprofit organization overseeing the museum.

The Mob Museum, which is being constructed in the former post office and federal building at 300 Stewart, is thought to be the largest project to receive historic tax credits in Nevada, according to the state Historic Preservation Office.

Because the funds won't be available until next year, part of today's council action was to reallocate to the museum $2.5 million in funds previously set aside for the Regional Public Safety Complex so the museum construction costs can be paid this year.

Under today's action, the city will be compensated for the $2.5 million in 2012, when the city receives $5.5 million in tax credit equity for its role as developer of the Mob Museum.

The remaining amount of the $10.6 million in historic tax credit equity will be distributed to an affiliate of the nonprofit 300 SAC, which is expected to manage the museum when it opens next year. The museum's construction funding is coming through a variety of sources: local, state and federal grants, matching grants and the city's redevelopment agency.

The Mob Museum, dedicated to the history of organized crime and law enforcement, will feature interactive exhibits when it opens Feb. 14, 2012. Much of the focus has been on how law enforcement defeated and continues to battle organized crime.

The 41,000-square-foot museum is expected to draw hundreds of thousands of tourists to the downtown area when it opens.

It includes about 16,800 square feet of exhibition space on three floors in addition to a specialty retail store, special event areas, educational areas and office space.

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy