Indio casino finally poised to erect parking garage

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Message was posted: 09:44 Aug 25th, 2006

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The Cabazon Band of Mission Indians will spend $15 million to add a parking structure and 1,000 new spaces for the tribe's Fantasy Springs Resort Casino in Indio as a part of expansion efforts that include a golf course, housing and shopping.

Future resort visitors will also skip the heat and walk into the casino through an air-conditioned bridge, "instead of having to go on a big nature hike to get to the resort," General Manager Paul Ryan said referring to the current 3,000 parking spaces.

The tribe built its 12-story $200 million hotel in 2004 and intended to build the parking structure not long after. But financing delayed construction, Ryan said.

Tax-free bonds intended for government improvements and issued by the tribe for its hotel have been questioned by the IRS, which could ask the tribe to refinance the bonds and pay what the investors would have owed in taxes.

Ryan said he hasn't heard from the IRS.

"We're still wondering what they're up to," he said.

Reached by phone, IRS spokesman Raphael Tulino said the agency doesn't comment on specific cases.

To finance the parking structure, the tribe issued traditional taxable commercial bonds.

"Costs have gone up considerably," said Gary Anderson, director of construction for Palm Desert-based SDR Construction, referring to rising prices for steel, concrete and petroleum in the past couple of years.

SDR Construction helped build the tribe's hotel and has been hired to build the parking structure.

Ryan expects the first nine holes of the tribe's $10 million golf course to be finished by the end of the year and the parking structure to be open in about eight months. The tribe is also planning a golf course housing development and eventually a shopping area near the entrance.

"It's going to raise the bar of what the current expectation is for tribal resorts and gaming facilities. I think we're going to be a well-known resort," Ryan said by phone.

"There will actually be something here for the residents in (eastern Coachella Valley)," he said. "You don't have that right now out here."

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