Nevada lawmakers have finalized a deal with the Oakland Athletics to move the baseball team to Las Vegas. The team will get $380 million in public assistance to build a new stadium along the Strip.
The final version of Senate Bill 1 looks much like the original drafted by the A's organization and the Lombardo administration during the regular session, which ended last week.
Overall, the team will receive $380 million in public assistance, with $180 million coming from the state and the rest financed by Clark County.
To get the money, the A's organization has agreed to spend at least $2 million a year on a community benefits agreement that includes investments in education programs, youth baseball and guarantees to hire a diverse workforce and pay a living wage.
Speaker of the Assembly Steve Yeager said it's likely one of the best community benefits packages in the country.
"We've gotten a commitment that there's going to actually be an investment in the community, and, in my mind, that that makes a difference. Is there a risk? Of course, yes. There's always risk involved, but I think in looking at this deal, at least for me, the risk is worth it. I'm hopeful that we're going to bring a team here that's going to win and it's just going to add to that sports and entertainment capital of the world in Las Vegas."
But for Assemblywoman Shondra Summers-Armstrong of Las Vegas, the state could better use the money elsewhere.
"Those dollars are intended if you look at the, at the ones that were gonna be captured for community use for homelessness and education and those things. I had trepidations about capturing and gathering those taxes for 30 years."
The passage of SB1 clears a significant hurdle on the team's quest to build a $1.5 billion stadium on the site of the Tropicana.
Before construction begins, the team must sign an official development agreement, a lease agreement and a 30-year non-relocation agreement with the Las Vegas Stadium Authority. The team must also pay the first $100 million in development costs for the ballpark before their eligible for the public money.
The bill now heads to Lombardo, who should sign it during a ceremony with lawmakers in the coming days. Major League Baseball is also expected to approve the move.
