Clark County commissioners “unanimously approved” the creation of the Sports and Entertainment Improvement District, marking “a vital step” in funding a portion of the $1.75B Athletics’ Las Vegas Strip ballpark project, according to Mick Akers of the LAS VEGAS REVIEW-JOURNAL. The district will raise $120M to “repay bonds the county will take out to fulfill its commitment to the up to” $380M in public funding approved by the Legislature in 2023 for the ballpark. The district will cover the nine acres where the 33,000-fan capacity stadium will be built, while the remaining 26 acres of the 35-acre Tropicana site -- where Bally’s Corp. plans to develop an integrated resort -- are “not included in the tax.” Taxes on the site “can start to be accrued during the construction phase of the stadium project.” Clark County will also contribute $25M toward infrastructure upgrades around the stadium site in addition to the $120M pledged toward the construction of the project. Once the county bonds are paid off, “the improvement district would be discontinued and the taxes from the stadium would then flow to the county and state.” The A’s are “still working to finalize a development agreement with the county, but the team is OK to begin initial work on the stadium before that deal is struck.” The A’s “are geared to break ground” on their stadium project sometime in June (LAS VEGAS REVIEW-JOURNAL, 4/15).
Clark County greenlights key funding step for A’s Vegas ballpark
