The Nevada State Assembly is currently in session, considering a plan for a new NFL stadium in Las Vegas that would use $750 million worth of public funds.
Steve Hill is the chairman of the Southern Nevada Tourism and Infrastructure Committee. He says the stadium project is estimated to cost $1.9 billion and if that number runs higher, the developers will be on the hook for the additional cost.
Assemblyman Ira Hansen, who represents Northern Nevada’s Assembly District 32, questions Hill about what happens if the project comes in at a lower cost.
“But if in fact it comes in at $1.3 or $1.4 billion, like several other stadiums have in recent times, the $750 million is not going to be proportionately reduced,” Hansen said, “My understanding is no matter what, the taxpayers are going to be forced to pay $750 million even if the stadium comes in at $1.5 billion, say. Correct?” Hansen asked of Hill.
“Assemblyman Hansen, technically that’s correct,” Hill said.
The Senate passed the funding measure by a vote 16-5 on Tuesday. If passed in the Assembly, which is scheduled to hold a vote tonight, it will then head to Governor Brian Sandoval’s desk.
Earlier today, the Assembly passed a bill allowing the Clark County Commission to raise sales taxes by a tenth of a percentage point. The Senate later unanimously approved the measure, which now heads to Sandoval.
The extra money would go to fund more police officers, something the Las Vegas Metropolitan Police has lobbied for many years.