While most of the focus on the planned $1.8 billion, 65,000-seat Las Vegas stadium is focused on the construction site at Interstate 15 and Russell Road, the Las Vegas Stadium Authority continues to monitor agreements it has reached with the stadium’s builders, the Oakland Raiders.
The stadium authority board unanimously approved a $546.3 million budget for the 2018-19 fiscal year and a collection of amended agreements designed to better account for funding of the $1.8 billion, 65,000-seat indoor stadium under construction at Interstate 15 and Russell Road.
For much of Wednesday night, there were cheers for the Henderson Raiders. Oakland Raiders President Marc Badain said his football team couldn’t be happier with the neighborhood the team will move to in 2020, when the Raiders relocate from the Bay Area to the desert.
Study after study has concluded that stadiums aren’t effective economic development drivers. But a leading urban growth researcher says Orlando and Las Vegas are exceptions because of the strength of their regions’ tourism economies.
After six weeks of high-intensity meetings with generous high-fiving for the delivery of a comprehensive stadium development deal for the Oakland Raiders and UNLV football, the Las Vegas Stadium Authority got down to more mundane work Thursday.
The Las Vegas Stadium Authority late Wednesday posted three documents on its website outlining the guaranteed maximum price negotiated by the Oakland Raiders with general contractor Mortenson Construction Co.
The Las Vegas Stadium Authority and the Oakland Raiders hope to finalize a stadium development agreement that has been months in the making at a special meeting scheduled for Thursday.
Las Vegas and its $1.9 billion stadium project won’t be forgotten when nine NFL owners and team presidents, together wielding influence over an adjusted Super Bowl bid-selection process, meet in the coming months.
It seems that every corner of U.S. Bank Stadium has some meaningful function that provides an advantage to the hometown Minnesota Vikings. It should be no different at the 65,000-seat Las Vegas stadium for the Raiders and UNLV Rebels.
Thursday’s scheduled special meeting of the Las Vegas Stadium Authority has been canceled and approval of a stadium development agreement has been pushed back to March 1.
