DEAL FINALLY CLOSED TO BRING ZAPPOS TO DOWNTOWN LAS VEGAS

The City Council voted unanimously on three motions to allow a developer to
buy the old City Hall for Zappos to renovate and import as many as 2,000 workers.

Zappos moved from San Francisco to Henderson and originally employed only 70 workers, now
has 2,000, eventually predicting as many as 5,000 workers.This event is being compared to Howard Hughes
arrival in the 1960s.

After the vote, Hsieh spoke to the Council explaining how he planned to have a campus
like setting for workers in the fashion of Google, Apple or Nike. Additional acreage
has been optioned in the area for this purpose.

In addition to boosting development downtown, the city won't have to leave recession-weary
taxpayers being stuck with an empty, decaying old City Hall.

The infusion of Zappo workers will have an impact of nearly $273.4 million downtown.

A timeline presented to the Council said the deal will close escrow by April. Zappos
will begin renovations in the summer and move-in by late 2013.

The City plans to move into the new City Hall building by the end of the month.