Clark County unanimously approved a reimbursement resolution tied to $135 million in bonds the county plans to sell to help finance the construction of the Athletics’ $2 billion ballpark.

The reimbursement resolution was approved Tuesday morning as part of the board of commissioners’ meeting consent agenda, which did not include discussion on the topic. The resolution set the maximum aggregate principal amount of the bonds to be issued by the county at $135 million.

The step doesn’t necessarily mean that the county is preparing to sell the bonds, which will fund a portion of the ballpark’s construction. The resolution is a tax compliance step that will allow money spent on the project the bond sale to be reimbursed by the tax-exempt proceeds following the sale.

“As the A’s have been constructing the stadium, they have incurred costs associated with the project that are substantial in nature,” Clark County spokeswoman Jennifer Cooper said Tuesday in an email. “While bonds are not being issued soon, this reimbursement resolution allows the County to identify the costs being incurred now to pay down the bonds once they are issued.”

Ballpark funding

The A’s ballpark is set to receive up to $380 million in public funding and a $300 million construction loan, with the rest of the cost the responsibility of A’s owner John Fisher.

The A’s have also looked to sell minority ownership stakes in the team; proceeds from such deals would be used toward construction costs. The A’s inked a $175 million deal last year with Aramark Sports+ to be the concessionaire of the Las Vegas stadium and gain a minority ownership stake in the Major League Baseball team. A deal with a Korean group that includes former MLB pitcher Chan Ho Park was also reportedly inked last year, to the tune of $70 million.

The A’s also plan to create a personal seat license program for premium seats, with the proceeds going toward construction costs, according to the marketing and sales agreement set to be introduced at Thursday’s Las Vegas Stadium Authority meeting. The Raiders featured PSLs — an agreement that gives the person who purchases the seat license the right to buy season tickets for a set seat, for a team in a specific facility — on all seating when season tickets were sold for Allegiant Stadium, netting the NFL team $548 million.

Ballpark tax district

Last year, the county commission approved the creation of a tax district around the 9-acre site of the A’s ballpark. Tax revenue collected from that district will be used to pay back the bonds the county sells to fund their portion of the stadium project.

The tax district has already been generating tax revenue from ballpark construction, with the first update on those financials expected at Thursday’s Las Vegas Stadium Authority meeting.

Before the A’s can tap public funding for use during the construction of the ballpark, the organization must spend $100 million on the project, have an approved development agreement with the county and set a guaranteed maximum price on the project. The development agreement was approved last fall.

The A’s haven’t offered financial information on the project since December 2024, where Sandy Dean, A’s vice chairman, said the team has already spent $40 million during the planning stages of the project.

Previous stadium bond sale

In 2018, Clark County sold $650 million in bonds in 90 minutes raising money needed to pay for the $750 million in public funding that went toward the construction of the Raiders’ $2 billion Allegiant Stadium. A 0.88 percent room tax on hotel rooms in Southern Nevada was set up in March 2017 to pay back the bonds that were sold for the county’s contribution to the NFL facility.

Work on the A’s ballpark is well underway with two levels on concourse decking already poured around the majority of the ballpark’s footprint, creating a large C-shape. The project remains on time for a planned 2028 opening.

Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.