It’s going to cost a buck more to attend events at the Thomas &Mack Center.
The finance and business committee of the Nevada System of Higher Education Board of Regents voted to recommend the $1 facility fee to support the University of Nevada, Las Vegas’ ongoing improvements to the aging home of the Rebels.
The fee will be added to all tickets for Thomas &Mack events starting in July to help fund the $70 million rehabilitation of the 31-year-old arena.
The Board of Regents will vote the plan today.
Construction on the Thomas &Mack is underway, said Gerry Bomotti, UNLV’s senior vice president of finance and business.
The committee also approved refinancing some of the center’s existing debt for another $13 million.
The $70 million will include about $500,000 annually in profits from the $1 fee, the refinancing, about $50 million from the state slot tax bond fund, some cash on hand from events such as the National Finals Rodeo, and $4 million or $5 million from as yet unnamed donors, Bomotti said.
Bomotti wouldn’t say who was giving the money because it hasn’t been announced.
UNLV also is hoping to gain funding through corporate sponsorship for the center that would include putting a logo on the roof of the Thomas &Mack that could be seen from planes landing and taking off at McCarran International Airport.
Bomotti said UNLV isn’t counting that money yet because no deal has been made.
“The goal is to make it a viable venue for the next 25 years,” Bomotti said of the plans to rehabilitate the Thomas &Mack.
Improvements will include mechanical, plumbing and electrical upgrades, as well as some new amenities, such as additional escalators.
The need for these improvements include meeting updated building code requirements as well as competing with new arenas being built in Las Vegas, Bomotti said.
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