Southwest Las Vegas Park Projects Stalled After Settlement

Clark County Commissioners and local real estate developer Jim Rhodes have had their horns locked for a while. It led to the county agreeing to shell out $80 million in a settlement to avoid a potentially far more devastating judgment. Two Southwest Las Vegas park projects are getting caught in the crossfire.

If you haven't been keeping up with the story, it all stems from land south of Red Rock Canyon Recreation Area known as Blue Diamond Hill. The area, currently being used as a Gypsum mine for Rhodes' Gypsum Resources, has been ripe for housing development. Organizations like Save Red Rock did what they could to stand in their way. That is well within their right.

What was not, Rhodes alleges, is conspiring at the County level to try to stop the project. Commissioner Justin Jones was actually sanctioned for deleting text messages that were pertinent to the case. It had the County facing a judgment that could have been in excess of $2 billion. That left Clark County with no other choice but to settle.

But $80 million doesn't come out of thin air. That is where Southwest Las Vegas park projects will feel it the most.

For those living in the burgeoning southwest valley, you know the growth is explosive and resources have not necessarily kept up. Mountain's Edge didn't get a grocery store until the mid-2010s. But from Rhodes Ranch points south, the public amenities have been lacking compared to peers in other parts of the valley.

Two Southwest Las Vegas park projects that were approved and ready to go were the Mountain's Edge Recreation Center serving the roughly 43,000 people in that community, and the James Regional Recreation Center that was planned to be added to the James Regional Sports Park behind Smith's on Durango and Warm Springs.

Unfortunately the settlement has put a bit of a hampering on those plans.

According to 8 News Now, Clark County Parks are getting hit with the bill of just over half of the $80 million settlement bill. Every district is taking a $5 million hit. But these two Southwest Las Vegas park projects are seeing a chunk taken out of them independently, despite having just been approved in March.

Nearly $3 million was removed from the James Regional Recreation Center project, which KLAS says has that project on hold. Meanwhile, the Mountain's Edge Recreation Center, in Commissioner Jones's district, saw a $1.6 million cut. The Mountain's Edge development, likely to be a part of the long-stalled and incomplete Mountain's Edge Regional Park, is the biggest blow. The neighborhood is arguably the furthest away from any county community center.

It's kind of like when the one kid in class acts foolish and the entire class gets punished.

If you have some money wasting away in a savings account that doesn't have interest, then you might want to consider making your money grow with low-risk investments. Financial experts say that certain low-risk investments can really help pad your savings.

Before we get into the best low-risk investments, let's look at what exactly is a low-risk investment. The official definition is basically what you would expect from the definition of a low-risk investment. According to the financial experts at Capital.com, it's "an investment where there is perceived to be just a slight chance of losing some or all of your money. Low risk investments offer you a security blanket as they’re not likely to suddenly drop in value."

In contrast, according to Investopedia.com, "A high-risk investment is one for which there is either a large percentage chance of loss of capital or under-performance—or a relatively high chance of a devastating loss." They add that, "The first of these is intuitive, if subjective: If you were told there’s a 50/50 chance that your investment will earn your expected return, you may find that quite risky." So, for example, a 50/50 risk might not seem risky to some, but it might seem risky to others. An investment with a 99% risk will obviously seem risky to everyone. But, with high-risk investments come big payouts, so that's what lures people in. For example, a separate article from Investopedia.com states that some high-risk investments can double your money. That's obviously a much bigger return than you would see in your average investment. As they state, "Make no mistake, there is no guaranteed way to double your money with any investment. But there are plenty of examples of investments that doubled or more in a short period of time."

So, if you're interested in making a ton of money, or losing it all, high-risk investments such as investing in foreign emerging markets may be of interest to you. "A country experiencing a growing economy can be an ideal investment opportunity," experts at Investopedia.com state. "Investors can buy government bonds, stocks, or sectors with that country experiencing hyper-growth or ETFs that represent a growing sector of stocks." They add "spurts in economic growth in countries are rare events that, though risky, can provide investors with a slew of brand new companies to invest in to bolster personal portfolios."

Now, let's move onto some low-risk investments for those who don't want to risk losing their money. Of course, talk to your financial advisor before making any of these moves.

You've probably heard of CDs being low-risk investments. Fidelity.com explains that "CDs provide reliable, fixed-rate returns on a lump sum of money over a fixed period of time, such as six months, one year, or five years." They add that the great thing is that if you "get a traditional CD at a bank or credit union where they are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Association (NCUA)." Usually, CDs have a minimum deposit, and you’ll have to pay a penalty if you take your money out too soon.

High-yield savings accounts are like your regular savings account, but they earn more interest. "You can use these accounts for long-term savings goals or to hold extra money from your checking account," CreditKarma.com states. "For example, if you want to start saving for a house or building up an emergency fund, this could be a great option."

Forbes.com says that right now, the risk level for U.S. treasury bills, notes and bonds is "very low." They add that, "U.S. Treasury securities are backed by the full faith and credit of the U.S. government. Historically, the U.S. has always paid its debts, which helps to ensure that Treasurys are the lowest-risk investments you can own."

Fidelity.com states that, "Money market funds are mutual funds that invest in short-term, low-risk assets like Treasury and government securities, commercial paper, or municipal debt—depending on the focus of the fund." They add that, "Because their underlying investments are typically high quality, they are generally less volatile than other types of mutual funds, such as stock funds."

Fixed annuities are a pretty safe bet. As Forbes.com explains, "Fixed annuities are a popular type of annuity contract that are frequently used for retirement planning, but can also be useful for medium-term financial goals." They add that, "Sold by insurance companies and financial services companies, a fixed annuity guarantees a fixed rate of return over a set period of time, regardless of market conditions."

People talk about stepping outside of their comfort zone in life, but really, investing isn't a place to do this. You know how much money you have to "play" with, so if you're worried about putting too much money in the market, these low-risk investments could still help you make money on your money.