Several Las Vegas City Council members say developers Cordish Cos. and Findlay Sports & Entertainment should consider taking on a third partner to privatize financing for a proposed downtown soccer stadium so that public dollars are not used.
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City Hall lobbyist Jay Brown wasn’t playing for Vegas United last Wednesday, but he did appear to be trying to save the $200 million soccer stadium proposal before it expired before everyone’s eyes.
The Las Vegas City Council recently approved nonbinding plans for a $200 million soccer stadium that mandates no public money — but it’s a rare public-private stadium deal in this country that includes no public dollars.
The Las Vegas City Council voted Wednesday in favor of a nonbinding stadium subsidy deal with the private developer team of The Cordish Cos. and Findlay Sports & Entertainment, with the goal of eliminating public dollars being used for building the soccer stadium.
The Cordish Cos. has proposed an extra $250 million of development would be woven into final agreement vote in December if the Las Vegas City Council approves the $200 million soccer stadium deal on Wednesday.
The phone calls began ringing at 7 a.m. at the Tarkanian house. Council Member Lois Tarkanian, the former basketball coach’s wife of 59 years who, with her swing vote Wednesday, will decide whether the city moves ahead with a public subsidy deal for professional soccer stadium project in downtown Symphony Park.
The Las Vegas City Council is scheduled to vote Wednesday on whether to approve a new financial term sheet to build a $200 million stadium at Symphony Park meant to provide a home field for a Major League Soccer franchise.
The city of Las Vegas’ plans to use hotel room tax money for $3 million annually over 30 years for most of its share to build a $200 million subsidized downtown soccer stadium could pose a problem, a well-known local consultant believes.
With UNLV seeking a publicly funded campus stadium and Findlay chasing a subsidized downtown sports venue, Rock Rocheleau asked the car dealership chain executive during a stadium information meeting: “Maybe the two of you can come together and build one stadium?” It’s a fairly common question, but there’s more than one answer to the question.
While the city of Las Vegas is entrenched in a high-profile soccer stadium debate, the UNLV stadium board unceremoniously closed shop Thursday as the panel planned to ship a campus football/multi-purpose stadium report to the state Legislature to meet a Sept. 30 deadline.