Las Vegas city staff and The Cordish Cos. still are negotiating funding terms of a proposed soccer stadium in Symphony Park, with a Sept. 1 deadline looming, Councilman Bob Beers said Friday.
City officials have not elaborated on the details, but Beers said the two sides have until the end of the month to come up with terms outlining the proposed funding and public contribution for the proposed $200 million stadium.
The public could be liable for 75 percent of the costs, but there is no proposal to present yet. The city could use hotel room tax money and a potential special sales tax district to generate public dollars toward a stadium.
If terms are agreed to, then the City Council could vote on the deal at its Sept. 3 meeting, Beers said. He noted there will be no special council meeting to vote on the matter.
Cordish is partnering with Findlay Sports &Entertainment, which is run by Justin Findlay of the Findlay car dealership chain. Findlay and his supporters are lobbying Major League Soccer to award an expansion team to Las Vegas, but Las Vegas is competing against five cities for the final MLS expansion team slot. Gaming investor Jason Ader also is proposing a $350 million deal to bring professional soccer to Las Vegas.
Beers said he was hoping the stadium process would be more transparent. Two public meetings on the proposal were postponed, and city staffers have refused interviews to discuss the matter.
City spokesman Jace Radke said, “The deadline for city staff to reach a tentative financing agreement with Cordish and Findlay is Sept 1. If they don’t have a tentative financing agreement by then, the negotiations end.
“If they do have a tentative agreement before Sept. 1, then that agreement would go to the City Council for a vote at a future council meeting. The council meets twice a month, and in September the dates are the third and the 17th. Those agendas have not been released.”
Cordish spokeswoman Candice Coolahan declined to comment, suggesting that a reporter talk to the city.
Contact reporter Alan Snel at email@example.com or 702-387-5273. Follow @BicycleManSnel on Twitter.
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