The Nevada Senate adjourned Thursday without voting on a financing bill for a proposed $1.5 billion Las Vegas Strip stadium for the Oakland A's.
Public funds for the stadium would mainly come from $180 million in transferable tax credits and $120 million in county bonds. Backers have pledged that the creation of a special tax district around the proposed stadium would generate enough money to pay off those bonds and interest. The plan would not directly raise taxes.
The A’s would not owe property taxes for the publicly owned stadium. Clark County, which includes Las Vegas, would also contribute $25 million in credit toward infrastructure costs. A’s representatives and some tourism officials say a deal would further grow Las Vegas’ developing sports scene and act as an economic engine, but a growing chorus of economists and some lawmakers warn that the project would bring minimal benefits for the hefty public price tag.
Stern is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service that places journalists in newsrooms. Follow Stern on Twitter: @gabestern326.
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