Congressman Cresent Hardy, R-Nev., goes to a Memorial Day Event at Southern Nevada Veterans Memorial Cemetery on Monday, May 24, 2015, in Rock City.
Thursday, July 2, 2015|2 a.m.
U.S. Rep. Cresent Hardy, a freshman Republican from Mesquite, is thoroughly familiar with the green tufts framed by the craggy desert at his home town’s Falcon Ridge Golf Course. After all, in 2005, he developed the par-71, 18-hole course. An oasis of water and yard grown in a hardscrabble basin, it reflects Hardy’s passion, the region’s turbulent property market– and the lawmaker’s failure to pay his corporate taxes and company loans completely and on time.
After a Nevada district court in 2012 ruled that Hardy and business partners were unable to repay loans made by American Bank of the North to finance the course, they were forced to sell Falcon Ridge to a Utah-based LLC for $2.8 million to pay off their debt.
That was not the congressman’s only financial hardship. He and his partners have actually dealt with unpaid company financial obligation, including tax liens and personal bank loans, totaling more than $5.3 million, according to a search of public records by the Sun.
That figure does not consist of debts originating from a formerly reported $8 million bankruptcy that Hardy’s improvement business filed in 2012.
Although he attacked Niger Innis, his Republican primary opponent in 2014, over a similar record of unpaid business taxes, Hardy has actually never ever before accounted for the full scope of his own monetary difficulties.
Today, the congressman casts himself as a victim of the economic recession, but safeguards his record as an entrepreneur. “Any small-business owner knows that the decisions are difficult, the days are long, when company is down you simply do the very best you can,” Hardy stated in a statement to the Sun.
“The small-business environment knows exactly what it’s like to take the danger and develop tasks for others; it does not always exercise, however that willingness to try is part of what makes this nation– and Nevada particularly– so fantastic. With the advantage of hindsight, everybody might be more effective– however considering that we don’t have that luxury, we need to take our great experiences and our disappointments to assist shape who we are.”
The Falcon Ridge golf course is among at least five of Hardy’s companies with big tax liens or other monetary troubles– a record that begins prior to the economic downturn.
From 2004 to 2012, the Internal Revenue Service filed $212,603 in liens on Accuracy Aggregate Products, a company where Hardy had a 33 percent interest till 2013. That business likewise faced $69,212 in tax liens in 2003 submitted by the state of Nevada.
In addition, in 2002 and 2003, Nevada filed a $196,786 lien versus Noble Devices, in which Hardy had a 25 percent interest.
Another of Hardy’s companies, Heritage Construction and Advancement, dealt with problems paying back private financial obligations, settling a $2.1 million bill with Wells Fargo Devices Finance just 16 days after the congressman took workplace. Though Hardy offered his stake in the company to a partner in 2013, his name stayed on the civil case between the bank and Legacy.
In addition to the monetary troubles, Hardy’s records create him as a popular designer in Mesquite, a town with 16,000 individuals that when offered itself as a retirement community for Child Boomers.
His business have built an elementary school, a medical facility, a bridge and at least one road. In the aggregate, Hardy’s companies were the town’s seventh-largest taxpayer in 2011 and the eleventh in 2014. Deeds in the County Recorder’s Office show Hardy’s companies have actually been involved in more than $18 million in characteristic transactions over the past 15 years. 2 roads in the town– Falcon Ridge Parkway and Hardy Way– even intersect one another.
Lots of residents safeguard Hardy’s economic impact. Richard Secrist, development services director of Mesquite, said Hardy was involved in “much of the early advancement in Mesquite” and had a “significant impact on the community.” Secrist said Hardy’s business problems were caused by the economic crisis.
It had not been unusual for excavators to lie idle for weeks in skeletal construction tasks across the city, stated Leroy “Buck” Schaeffel, a property agent and former board member of the Greater Las Vegas Association of Realtors. He transferred to Mesquite in 2005, prior to the monetary collapse. He stated that Hardy was not alone in his problems. “It’s not unique to the congressman,” Schaeffel stated. “There are a great deal of people that got themselves into financial difficulty.”
In his very first 6 months in Congress, Hardy has made the area’s small-business community a top priority, hosting regional roundtables and workshops, functioning as chairman of a subcommittee on small-business investigations and sponsoring or helping to write four bills on the subject.
It’s a group that he’s depending on to help buoy him to victory in his proposal for a second term. He notched a long-shot triumph in the 4th congressional district versus one-term Democratic incumbent Steven Horsford, helped by historically low turnout from Democrats and a last-minute expense of almost $1 million from Karl Rove-backed Super PAC Crossroads GPS. “Hardy’s victory was the biggest upset in the entire country,” David Damore, associate teacher of political science at UNLV, said.
The congressman is most likely to face a sharp challenge from one of four stated Democratic candidates. According to Damore, Hardy will have an incumbency benefit and a larger fundraising network than in 2014, however, “other than that, it’s going to be difficult.”
Though previously Hardy has not publicly acknowledged the complete scope of his tax troubles, he’s never been shy about proclaiming his distaste for the Internal Revenue Service. After his election to Congress, Hardy tweeted on April 15: “After you strike send on your taxes, inform the IRS what you really think.”