George Clooney's "Las Ramblas" condo-hotel development in Vegas has failed, sold to Edge Resorts. Well, not really "failed": Clooney and his partners purchased the land for $75 million and sold it for $202 million.This raises an interesting question for Oshkosh. If the $60 million Five Rivers Resort fails, which is a distinct possibility given the fact that the developer comes in with a construction company backed financing package 2 minutes after a deadline, is there an Edge Resorts out there ready to take the behemoth off our hands? Not likely, which is why our ace planning department is coming up with the mother of all "risk mitigators" to minimize the [likely] outcome in which the behemoth gets dumped on taxpayers.
Hold on to your wallet, we're in for quite a ride. The city government ain't Clooney, but maybe just a little Looney.
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