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\u2019 $2 billion ballpark.<\/p>\n
The reimbursement resolution was approved Tuesday morning as part of the board of commissioners\u2019 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.<\/p>\n
The step doesn\u2019t necessarily mean that the county is preparing to sell the bonds, which will fund a portion of the ballpark\u2019s 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.<\/p>\n
\u201cAs the A\u2019s have been constructing the stadium, they have incurred costs associated with the project that are substantial in nature,\u201d Clark County spokeswoman Jennifer Cooper said Tuesday in an email. \u201cWhile 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.\u201d<\/p>\n
Ballpark funding<\/p>\n
The A\u2019s 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\u2019s owner John Fisher.<\/p>\n
The A\u2019s have also looked to sell minority ownership stakes in the team; proceeds from such deals would be used toward construction costs. The A\u2019s inked a $175 million deal last year with Aramark Sports+<\/a> 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.<\/p>\n The A\u2019s also plan to create a personal seat license program<\/a> for premium seats, with the proceeds going toward construction costs, according to the marketing and sales agreement set to be introduced at Thursday\u2019s Las Vegas Stadium Authority meeting. The Raiders featured PSLs \u2014 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 \u2014 on all seating when season tickets were sold for Allegiant Stadium, netting the NFL team $548 million.<\/p>\n Ballpark tax district<\/p>\n Last year, the county commission approved the creation of a tax district<\/a> around the 9-acre site of the A\u2019s 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.<\/p>\n The tax district has already been generating tax revenue from ballpark construction, with the first update on those financials expected at Thursday\u2019s Las Vegas Stadium Authority meeting.<\/p>\n Before the A\u2019s 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.<\/p>\n The A\u2019s haven\u2019t offered financial information on the project since December 2024, where Sandy Dean, A\u2019s vice chairman, said the team has already spent $40 million during the planning stages of the project.<\/p>\n Previous stadium bond sale<\/p>\n 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\u2019 $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\u2019s contribution to the NFL facility.<\/p>\n Work on the A\u2019s ballpark is well underway with two levels on concourse decking already poured around the majority of the ballpark\u2019s footprint, creating a large C-shape. The project remains on time for a planned 2028 opening.<\/p>\n Contact Mick Akers at makers@reviewjournal.com<\/a> or 702-387-2920. Follow @mickakers<\/a> on X.<\/p>\n","protected":false},"excerpt":{"rendered":"Clark County unanimously approved a reimbursement resolution tied to $135 million in bonds the county plans to sell…\n","protected":false},"author":2,"featured_media":578530,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2391],"tags":[537,5,4,3226],"class_list":{"0":"post-578529","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-athletics","8":"tag-athletics","9":"tag-baseball","10":"tag-mlb","11":"tag-mlb-athletics"},"share_on_mastodon":{"url":"https:\/\/channels.im\/@mlb\/116089431760714655","error":""},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/578529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/comments?post=578529"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/578529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media\/578530"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media?parent=578529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/categories?post=578529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/tags?post=578529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}