Maloof: Obama ‘loves Las Vegas’ as president gives funding for solar energy

During a town hall meeting today and in a separate speech to business leaders, Obama will announce at least $100 million in new funds to help Nevadans keep their houses as residents here suffer the highest foreclosure rate in the nation as well as record unemployment.

The money is part of a $1.5 billion fund for five states — Nevada, California, Arizona, Florida and Michigan — that have been hit hardest by falling housing prices with values decreasing by at least 20 percent. The money is meant to help people who have lost jobs and now might lose their houses, but it also can assist borrowers who owe more money than their homes are now worth.

In January alone there were 11,854 foreclosed properties in Nevada, or one in every 92 units of housing. That compares to one in every 126 in Arizona, one in 185 in Florida and California, and one in 257 in Michigan, according to the real estate data firm RealtyTrac.

Sen. Harry Reid, who was accompanying Obama on his trip to Las Vegas, thanked the president for reaching out to help Nevada homeowners who have been hurt the worst by the housing crisis that comes as the state records a real unemployment rate of some 13 percent.

"I have been working with President Obama and his administration on a solution to address Nevada’s housing crisis for a while now and I am so glad we came up with one that will help people who are struggling," Reid said in a statement. "Our state is going to receive at least $100 million; that will go a long way toward helping to keep people in their homes and assisting those who are underwater."

State and local housing agencies would decide how to spend the money under federal guidelines, according to a senior U.S. official who briefed reporters.

Reid has a lot to thank Obama for as the president visits Las Vegas for the second time since he won the White House, in part to boost the Senate majority leader’s re-election chances in an uphill race where the Democrat is facing a field of Republican candidates running ahead of him in the polls.

It’s unclear how much Obama can help Reid, however, since the president’s popularity ratings have been falling along with Reid’s during the past year as the health care reform debate dragged on and the $787 billion stimulus package didn’t give a strong boost to the economy.

It didn’t help that Obama put his foot in his mouth a few weeks ago — for the second time in a year — by holding Las Vegas up as a place not to spend cash when there are school loan and corporate bills to pay instead. He even riled Reid who told him to "lay off Las Vegas."

Las Vegas Mayor Oscar Goodman remains peeved and refused to go to meet Obama at McCarran International Airport, where the Democrats in Nevada’s congressional delegation — Reps. Dina Titus and Shelley Berkley — were on hand as Obama stepped off Air Force One at 6:39 p.m. Thursday.

Goodman said he doesn’t plan to see Obama today unless he makes amends.

"If he calls me and indicates he is going to rectify the situation … and buys me a martini, I would certainly honor that request," Goodman said.

Goodman is chairman of the Las Vegas Convention and Visitors Authority, one of the groups Obama is addressing today at the Aria casino at the CityCenter complex that’s the town’s new hope for turning around the dismal economy. The event also includes the Las Vegas Chamber of Commerce. Some 600 business leaders are expected at the mid-day event.

Before his public events, Obama rubbed elbows Thursday night with his fellow Democrats.

The president sang the praises of Sin City, going from table to table at a private $1 million fundraiser for the Democratic National Committee and telling folks how happy he was to be back in Las Vegas, according to the host of the event, Palms hotel-casino owner George Maloof.

"It was great. He took the time and sat with each person to ask them what they had on their mind," Maloof said after the dinner at his Spanish Trail home. "We talked about basketball and how he loves Las Vegas. He said he likes to come here. He’s happy to be here."

Maloof, who owns the Sacramento Kings, said many of the more than 40 guests were donors from California. Reid arrived with Obama but didn’t stay for dinner.

A couple of well-known poker players also were in the crowd, including Phil Ivey and Howard Lederer, Maloof said, although it was the DNC that put together the guest list.

The guests sat around four long tables in the living area of Maloof’s home, according to one person in attendance. Obama didn’t speak to the group, preferring to talk informally with guests.

Maloof said he didn’t hear Obama make light of his verbal gaffes about Las Vegas.

"He was really engaging and just a true gentleman," Maloof said. "I think he cares about our town. There’s no question about that."

After the one-hour dinner, Obama returned to Bellagio where he’s staying on the Las Vegas Strip.

His arrival in Las Vegas was heralded by a stricter, 30-mile radius no-fly zone for tour operators, which was imposed by the Secret Service. Air tour operators unsuccessfully sought permission to fly out of the Boulder City airport to the Grand Canyon during Obama’s stay, complaining of lost revenues.

The Republican Party was taking a dim view of the Democratic president’s visit. Chris Comfort, president of the Nevada GOP, slammed the stimulus for not doing what he said it promised — creating more jobs and reducing the unemployment rate, which was 8 percent nationwide when it passed last year and which has since risen a couple of percentage points.

"The stimulus failed. Obama’s gambled with our economy and now he’s coming to Las Vegas to try and make amends," Comfort said. "He’s doing his apology tour."

Comfort’s derision contrasts with the enthusiasm of about 3,000 Las Vegans and visitors who waited for hours in line Thursday to get 1,500 free tickets to Obama’s town hall meeting at Green Valley High School gym in Henderson. After waiting in line for three hours, 15-year-old Therese Lopez danced a jubilant jig and whooped excitedly as she clutched her ticket.

"It’s Obama. Who wouldn’t feel lucky about it?" she said after waiting in a line that stretched almost three blocks. Those at the front showed up six hours early for tickets that weren’t dispensed until 4 p.m.

Carol Rose, 61, a Democrat who had waited since 10:30 a.m., said she’d like to ask Obama how he planned to aid Nevada’s ailing economy. The state has gotten short-changed on federal stimulus money, Rose said.

Near the back of the line, Dalton Terry, 17, a Green Valley student wearing a Nirvana T-shirt, echoed Rose’s sentiments. He said he would ask Obama to funnel more money to Nevada schools, which are at the bottom of the list nationally for federal funding.

Terry, who aimed to register as a Democrat, said it was important for teens to attend the event.

"Too many young people don’t do anything, and they expect things to get changed," Terry said.

Green Valley student Marissa Yanez, 14, said she would ask Obama what it was like to be the first black president.

"I think it would be really rough," said Yanez, an Obama supporter. "A lot of people didn’t want him to be president because of his color."

Dori Walrack, 47, said she’d like to know whether the president will push ahead to overhaul health care. She said she has no health insurance at the company where she has worked eight years.

"If I was to get sick, I’m pretty much left out," said Walrack, who voted Republican until the last election, when she went with Obama. She said her 17-year-old daughter urged her to attend.

"I’ve never met a president before," Sagadraca said. "It’s history."

One Republican-leaning independent said she was curious about how Obama planned to foster a renewable energy industry here.

"It’s good not to have to rely on gaming," said Deanna Waddell, 39, an unemployed mechanical engineer. "It would be nice to bring something else to Nevada."

In fact, Obama is also expected to announce a $2.9 million grant for Nevada Solar One, the third largest concentrated solar power plant in the world and an international star of "green energy."

The money is part of the multi-billion-dollar stimulus package that went into effect last year as part of a White House effort to lift the nation out of a devastating economic recession.

The stimulus grant program gives companies money after they spend it on renewable energy projects and is in lieu of a tax credit, which can’t be retrieved until the firm files its federal tax return.

Nevada Solar One opened in June 2007 after an investment of $266 million.

The company was awarded $2.9 million in funding for the second phase of its solar thermal power plant in Boulder City, which was completed in September 2009 and added 40 solar collectors to its existing 760.

The expansion gives the 400-acre plant the ability to power more than 500 more homes every year and created 42 construction jobs, according to the administration.

Staff writer Kristi Jourdan contributed to this report. Contact Laura Myers at lmyers@reviewjournal.com or 702-387-2919.