Negotiations Continue On Las Vegas Stadium Financing Plan
LAS VEGAS (AP) — Proponents of an NFL stadium in Las Vegas are pushing back on details of an agreement to publicly fund the venue, which could be home to the Raiders.
An oversight committee meets Thursday to continue discussing a hotel tax hike to fund the stadium. Proponents from Majestic Realty and the Las Vegas Sands casino want to finish negotiations and get approval from Nevada lawmakers within weeks to prepare their pitch for the NFL's consideration.
Developers estimate that a 65,000-seat domed stadium near the Las Vegas Strip will cost $1.9 billion.
They submitted a marked-up version of the bill this week that outlines the changes they want to see, including language guaranteeing a stadium wouldn't face new taxes and that they'd be entitled to the first cut of the profits.