Archive for April 16th, 2010

AZ Central – All best are on new Talking Stick Casino

It’s a long way from bingo halls to the Casino Arizona at Talking Stick.

The $440 million hotel-casino that opened Thursday on the Salt River Pima-Maricopa Indian Community will combine Scottsdale resort amenities – fine dining, a spa and golf – with gaming and entertainment that is somewhere between Laughlin and Las Vegas.

Los Lobos headlined a private show on Wednesday night. Coming acts in the showroom include Brian Wilson, Clint Black and Big Bad Voodoo Daddy.

“We’re very excited to get in here,” said Russ Burbank, Casino Arizona chief operating officer.

Gamblers flooded into the casino on opening day as Salt River police directed traffic into the unfinished parking lots. Golf-cart shuttle drivers scurried to ferry gamblers through construction areas to the front door.

The casino, along with a few restaurants and lounges, are operating but Casino Arizona at Talking Stick is opening the hotel and other eateries over the next few weeks.

The casino’s poker room was full and seats were scarce at the slot machines. Players punched buttons on the ever-popular Monopoly slot machines, rolled dice on a virtual craps table and helped Carrie Bradshaw pick out a dress on a “Sex and the City” video slot machine.

“It’s beautiful in here – oh, my God!” one gambler said into his cellphone as he made his way across the slots floor.

Bartenders poured drinks at a main floor lounge with floor-to-ceiling windows overlooking Talking Stick’s two golf courses and an unfinished pool deck.

One gambler, who played at the old Casino Arizona at Indian Bend Road and Loop 101, was less than thrilled with her first visit.

“It’s OK,” Katie Adams of Glendale said. “I’ve just got to get used to it. It’s really packed, and we couldn’t get a seat.”

Talking Stick’s 240,000-square-foot casino is twice as large as the one it replaces.

Players can choose from 800 slot machines and 100 tables for blackjack, poker and other card games.

Smoking is allowed in the casino but restricted in the poker room, in a small area of the slot machines and in the hotel.

Views hit the jackpot

Talking Stick Resort includes eight restaurants, 10 lounges and 497 rooms, including 15 suites on the top two floors. An all-day buffet is priced from $12.95 for breakfast to $23.95 for dinner.

The hotel’s “wow” factor will come from its spa on the 14th floor and the 230-seat Orange Sky restaurant on the 15th floor. Both have spacious balconies with stunning views of Camelback Mountain and the McDowell range.

Standard hotel rooms will go for $100 to $300 per night in season. A 2,000-square-foot presidential suite is $3,500, said Burbank, the Casino Arizona executive.

“We’re going for a four-diamond rating (from AAA), and it looks like we’re going to get it,” he said.

Ties to tribes’ heritage

The hotel features a contemporary interior design by Milt Elliott of FFKR Architects with a subtle color palette of gray, black and white.

It incorporates design motifs representing the basketry of the Pimas and the red and black pottery of the Maricopas, Elliott said.

The Salt River community incorporates two tribes, the Pima, or O’odham, and the Maricopa, or Piipash.

Tribal voters approved gaming in 1994, and Salt River opened its first casino four years later.

Talking Stick’s hotel lobby includes a gallery with a large collection of contemporary Native American art.

Business groups will utilize the resort’s 50,000 square feet of meeting space, including a 25,000-square-foot ballroom.

Talking Stick will host the American Hotel Lodging Association in June. Golfers will play the two 18-hole courses that are managed by Scottsdale-based Troon Golf.

And by next spring, Salt River will host the Arizona Diamondbacks and Colorado Rockies at a Cactus League complex about a mile from Talking Stick.

The resort is adding a new entertainment package for the destination, said Rachel Sacco, Scottsdale Convention and Visitors Bureau president.

“We’re lucky it’s here on this side of town,” she said. “It will bolster the tourism market in Scottsdale.”

AZ Central – Judge delays auction for 44 Monroe

 

by Jahna Berry – Apr. 15, 2010 05:08 PM
The Arizona Republic

A Bankruptcy Court dispute delayed Wednesday’s foreclosure auction of 182 unsold downtown Phoenix luxury condos.

Three creditors of the 44 Monroe tower, located near First Avenue and Monroe Street, have filed petitions to force 44 Monroe LLC into Chapter 7 bankruptcy liquidation. They are owed $306,465, court documents say.

The auction was pushed back to April 27, but a judge must OK the auction before it can continue, said Phoenix attorney Brian Spector, who is the trustee.

The 196-unit luxury high-rise was finished in 2008. Its lender collapsed and was taken over by the FDIC, which now owns a 60 percent stake in Corus Construction Venture LLC. 44 Monroe LLC owes Corus $86.8 million.

Associated Press – Want to get audited? Apply for homebuyer tax credit

 by By STEPHEN OHLEMACHER – Apr. 15, 2010 12:50 PM
Associated Press

 WASHINGTON – Here’s a good way to get audited by the Internal Revenue Service this year: claim the new homebuyer tax credit.

 About a fifth of all IRS examinations done by mail in the past six months were for people claiming the credit, National Taxpayer Advocate Nina E. Olson told a congressional committee Thursday – the filing deadline for individual tax returns.

 The audits mean big delays in getting refunds – as much as five months – just as Congress and the Obama administration hope that tax refunds will spur economic growth and the homebuyer tax credit will improve the housing market.

 ”The first-time homebuyer credit is a program that I personally would not have run through the tax code,” Olson, an independent watchdog within the IRS, said in an interview. “The taxpayers need the money at the closing, and by definition, the tax code is a one time a year filing event.

 ”Most people don’t close on their houses on April 15,” she said.

 Congress passed an $8,000 credit for first-time homebuyers early last year to help jump-start housing markets as part of the massive economic recovery package. The program was so popular, Congress extended and expanded the program in November, opening it up to longtime homeowners who buy new homes.

 Buyers who have owned their current homes at least five years are eligible, subject to income limits, for tax credits of up to $6,500. First-time homebuyers – or people who haven’t owned homes in the previous three years – can get up to $8,000. To qualify, buyers have to sign purchase agreements before May 1 and close before July 1.

 To help prevent fraud, homebuyers are required to include a settlement statement, also known as a HUD statement, with their tax returns. Longtime homeowners have to provide proof they have owned their current home for five years. That could be done with old property tax bills, said Jackie Perlman, an analyst at the Tax Institute at H&R Block.

 ”Understand your obligation to provide documentation and provide it, it’s as basic as that,” Perlman said.

 The documentation requirements mean that taxpayers applying for the credit cannot file their returns electronically, which also delays refunds.

 Refunds take about 10 days for returns filed electronically in which the refund is deposited directly into a bank account. Refunds can take six to eight weeks for last-minute filers who use paper returns and receive checks.

 As of April 2, the average refund was $2,950, up about $255 over last year.

 The National Association of Realtors estimates that about 2 million first-time homebuyers took advantage of the credit last year, said spokesman Walter Molony. The realtors project that about 900,000 additional first-time homebuyers will qualify for the credit this year, in addition to 1.5 million repeat buyers, he said.

 Through March, the IRS had completed more than 650,000 correspondence exams in which taxpayers are required to share additional information by mail. Of those exams, or audits, about 140,000 were for people claiming the homebuyer credit.

 Through the end of February, more than 1.8 million taxpayers applied for the credit. Of those returns, 260,000, or little more than 14 percent, were selected for audits, Olson said in written testimony to the Senate Finance Committee.

 By comparison, the IRS completed a little more than 1 million correspondence exams last year, out of about 140 million individual returns filed.

 Deputy IRS Commissioner Steven Miller said the agency has worked to publicize the requirements of the homebuyer tax credit as well as others that were part of last year’s economic recovery package.


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