Oakland A’s, state leaders reach tentative public financing deal; legislative approval still needed
May 23, 2023 9:31:00 GMT -8
Post by LVfan on May 23, 2023 9:31:00 GMT -8
Oakland Athletics President Dave Kaval, center, inside the Nevada Legislature for a meeting in Assembly Speaker Steve Yeager's office on Wednesday, April 26, 2023, in Carson City. (David Calvert/The Nevada Independent)
The Oakland A’s and major state officials have reached a loose agreement for a public financing package significantly less than the $500 million the team originally sought to assist in relocating the franchise to a $1.5 billion stadium in Las Vegas, sources confirmed to The Nevada Independent on Tuesday.
According to sources with knowledge of the discussions, the public financing package that will be presented to lawmakers will be lower than the initial threshold of $195 million in transferable tax credits the state set last week, and see a similar reduction from the initial request of $200 million in bonds backed by Clark County.
The agreement was reached after weeks of discussion involving representatives from the Major League Baseball team, the governor’s office, the treasurer, representatives of lawmakers and Clark County, among other groups, and marks a sizable step forward after weeks of concerns from lawmakers and the county over the scope of the team’s public financing request.
According to sources with knowledge of the discussions, the public financing package that will be presented to lawmakers will be lower than the initial threshold of $195 million in transferable tax credits the state set last week, and see a similar reduction from the initial request of $200 million in bonds backed by Clark County.
The agreement was reached after weeks of discussion involving representatives from the Major League Baseball team, the governor’s office, the treasurer, representatives of lawmakers and Clark County, among other groups, and marks a sizable step forward after weeks of concerns from lawmakers and the county over the scope of the team’s public financing request.
thenevadaindependent.com/article/oakland-as-state-leaders-reach-tentative-public-financing-deal-legislative-approval-still-needed
