The Nevada Legislature, under Democrat control, is on the verge of granting the green light to a public financing package aimed at constructing a state-of-the-art baseball stadium worth $1.5 billion for the Oakland Athletics in Las Vegas, Your Content has learned.
Progressing steadily, the proposed funding has reached its anticipated final approval with minor adjustments made by the Nevada Assembly on Wednesday.
Following a 13-8 vote in favor of the measure by the Senate, the Assembly’s 25-15 vote sent the revised version back to the senators.
The Senate is poised to give its seal of approval to the amended version either on Wednesday or Thursday before submitting it to the desk of Republican Governor Joe Lombardo.
While the Governor’s signature is essential, the relocation of the A’s to Las Vegas is also subject to approval by Major League Baseball (MLB), which is widely expected.
Under the proposed funding plan, the $380 million for the A’s stadium will primarily consist of $180 million in transferable tax credits and $120 million in county bonds.
Notable changes introduced during Wednesday’s Assembly session included redirecting some funds initially intended for homeless programs towards more extensive investment in low-income housing.
The Senate’s initial endorsement of the financing package coincided with the Vegas Golden Knights’ triumph in the Stanley Cup finals, marking their sixth season in the NHL.
The forthcoming 30,000-seat baseball stadium, which will be the smallest in MLB, is planned for construction along the Las Vegas Strip in close proximity to the T-Mobile Arena, home to the Knights, and the stadium housing the NFL’s Las Vegas Raiders.
It’s worth mentioning that a timely bill passed during Nevada’s special session in 2016 paved the way for $750 million in public funding sourced from hotel room taxes to support the construction of the Raiders’ $2 billion Allegiant Stadium.
However, it is important to note that no public funds were utilized for the expansion hockey team’s arena, according U.S. News.
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