LAS VEGAS (KLAS) — The Nevada Assembly has passed the A’s stadium funding plan, making several changes that the Senate approved, allowing the bill to Gov. Joe Lombardo for a signature.
The Legislature approved Senate Bill 1 (SB1) on the fifth day of the 35th Special Session, called by Lombardo to consider the proposed $1.5 billion 30,000-seat stadium on the Las Vegas Strip. The bill caps the public’s part of funding the stadium at $380 million.
After SB1 was sent to the governor, lawmakers adjourned.
The basics of the stadium plan:
- Public funding of the stadium is capped at $380 million. The funding comes from an estimated $120 million in bonds issued by Clark County, combined with revenue from a special tax district. Transferrable tax credits worth $180 million will be issued, and the A’s will pay back $120 million of that over the life of the agreement. A $25 million credit from Clark County will pay for infrastructure improvements for the stadium.
- The stadium will be built at the site of the Tropicana Las Vegas Casino Resort.
- The A’s are expected to begin playing in the stadium when the 2028 season begins.
- The A’s have committed to a Community Benefits Agreement spelled out in SB1, with Nevada oversight to ensure $500,000 in donations and programs through 2027, increasing to $2 million per year when the stadium is complete.
- The A’s have signed a commitment to play at the stadium for 30 years — or pay the balance of their commitment if they leave.
A few questions still have to be answered. Will the A’s play games at Las Vegas Ballpark until the stadium is ready? They have one more year on their lease at Oakland-Alameda Coliseum. Will Major League Baseball owners check off on the A’s move? They are currently meeting in New York, and a vote is possible.
And after the Tropicana is demolished, what will be built on the remaining land around the 9-acre site of the ballpark? It’s just a portion of the 35-acre site. Lawmakers moved to prevent a casino or hotel from being built at the site.
The Assembly’s vote on the final version of SB1 appears below:
The Athletics released a statement regarding the passing of SB1 stating:
“Tonight, we thank the members of the Nevada State Legislature and their staff for their hard work, due diligence, and attention to detail as we work to bring the Athletics to Las Vegas. We are especially grateful for the legislators’ time and dedication to shepherding this bill through the process, including the special session. We look forward to Governor Lombardo’s signature as our next step.”