CARSON CITY, Nevada — The Oakland Athletics are gearing up for a move to Las Vegas after the Nevada legislature on Wednesday finalized public funding for part of the proposed $1.5 billion retractable roof stadium. Cleared a big hurdle.
The deal still needs the governor’s signature and MLB has to approve the Athletics’ move to Las Vegas, both of which are expected.
Congress voted $380 million in a 25-15 vote after making minor changes to a bill approved by the Senate by a 13-8 vote on Tuesday, hours before the Las Vegas Golden Knights won the Stanley Cup. approved the final version of the bill, which invested
The Senate accepted the change Wednesday night without debate in a voice vote, sending it to the Governor’s Desk as an “emergency measure” adopted during a special session convened by the Democratic majority in both houses of Congress on June 7. . Republican Governor Joe Lombardo said: He proposed a stadium spending plan.
The $380 million in public funds will come primarily from $180 million in transferable tax credits and $120 million in county bonds. Backers promise that creating the smallest special tax district in Major League Baseball around the proposed stadium would generate enough money to pay off those bonds and interest. . The plan does not directly raise taxes.
The Nevada plan has reignited a national debate over public funding of private sports clubs. A’s representatives and some Nevada tourism officials said the move could further boost the growth of the Las Vegas sports scene and become an economic engine. But economists and some lawmakers are increasingly warning that such projects will bring little return compared to the high public costs.
Under the deal approved Wednesday, the Athletics are not obligated to pay property taxes on public stadiums. Clark County, which includes Las Vegas, will also provide a $25 million loan for infrastructure.
The Congressional vote is a triumph in the arduous quest the A’s have been playing in place of the Oakland Coliseum since they arrived from Kansas City in the 1968 season. The team had previously attempted to build stadiums on the waterfront in Fremont, California, San Jose, and eventually Oakland, but all ideas never materialized.
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https://www.washingtontimes.com/news/2023/jun/14/oakland-athletics-stadium-deal-wins-final-legislat/?utm_source=RSS_Feed&utm_medium=RSS Oakland Athletics stadium deal finalized by Nevada legislature as MLB considers move to Las Vegas