Las Vegas City Councilman Bob Coffin is voting yes on the newest terms for a downtown soccer stadium during a meeting set for Wednesday.
That means if private developers can get Major League Soccer to grant them a franchise, the city is going to dedicate some $60 million in taxpayer dollars toward building a $200 million stadium downtown.
Talking to "KNPR's State Of Nevada" show Tuesday morning, Coffin said he will vote for the stadium funding because he likes the fact that funding for city parks has been included in the funding proposal.
“I will because the move of the $3 million of hotel tax from the parks program was a killer deal. Instead, it’s at $1.5 million and we use it to bond and build parks and rehabilitate old parks primarily on the east side, which is the area I represent,” Coffin said.
Coffin is considered the swing vote on the seven-member Council. If he votes yes, it should give the funding the required majority of four votes.
After the show, Guy Hobbs, president of Hobbs, Ong & Associates and the former Comptroller and Finance Director for Clark County, said he considered the funding plan one of the worst he has seen since the monorail was built near the Las Vegas Strip.
The new plan is actually includes a much reduced amount of public money for the project from $129 million to $56.5 million. However, people against the stadium have opposed any use of public funds for the project.
The city says investment from developers Findlay Sports & Entertainment and The Cordish Companies would increase to $143.5 million. They would also pay for a Major League Soccer franchise that would call the stadium home.
Bob Coffin, council member, Las Vegas City Council
Guy Hobbs, president, Hobbs, Ong and Associates
Carole Vilardo, president, Nevada Taxpayers Association
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