Nevada Senate passes Oakland A’s $380m ballpark public funding bill
The Assembly is scheduled to meet to vote on the proposal later this week.
The Nevada Senate recently voted on a $380m public funding bill for a proposed Oakland A’s stadium, according to a local report in the Las Vegas Review-Journal. The Senate passed the bill in a 13-8 vote.
The proposition will now move forward to the Assembly, which is expected to meet later this week.
Final approval will allow up to $380m in public funds for the new ballpark, which is good news for the Oakland A’s. The team has considered relocating to the Las Vegas Valley for nearly two years.
Under the conditions of SB509, up to $380m in public funds would be allocated to construct the new ballpark. In a breakdown of public funds $380m would come from tax credits, with $90m to be repaid through a sports entertainment improvement set up at the venue.
The remaining $145m in funding would come from Clark County. Future tax revenue would repay $120m and another $25m would fund future infrastructure improvements.
Senate support during the vote reflected a bipartisan effort to advance the bill.
Upon completion, the new baseball stadium would be located on the Tropicana Las Vegas site, near the southern end of the Las Vegas Strip. The new ballpark would be able to seat between 30,000 and 35,000 people.
The Oakland A’s originally sought to gain legislative approval for a $500m public funding package but amended the deal to request $380m, according to a local report.
Nevada Resort Association President and CEO Virginia Valentine told the Review-Journal, “We’re happy to see today the amendments that were made to improve the transparency and the accountability and the empowerment of the community benefits part of the program.”
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